This property provides a great opportunity for an investor to acquire an asset providing high return and considerable future rental upside & ADU potential, The property offers 6 units, with mix of 4 x 2 bd + 1 bath and 2 x 1 bd + 1bath. with 6 separate Structure, Each 2bedroom unit is stand alone unit and no sharing wall, The back Building has 2 x 1 bd + 1bath on top of the 5 covered Garages and there is a detached 1 car Garage. Total monthly Actual Gross income $ 8,650, Yearly GOI $ 103,800, GRM 12.9 and 5.2 Cap rate, with 35 % upside potential or the Projected Market Cap Rate 7.08 % while the Market GRM 9.2 on projected Yearly income $145,200, , There are total of 6 covered Garages with ADU potential. It has been reported by the seller that tenants have been paying rents on time for the last 18 months.
Listing By Keller Williams Realty Westside – Eliza Kerndian
Data Last Updated 10:14PM - 10/20/2021
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