Description

I am willing to do an AITD or SELLER CARRY FINANCING with $250,000 cash down and carry the loan for as long as the new buyer wants.

Loan is due on Dec 1, 2034
Building Size: 3,213 SF Property
Type: Multifamily Property
Sub-type: Garden/Low-Rise Property
Use Type: Investment
High Cap Rate: 9.35%
No. Stories: 1
Year Built: 1951
Lot Size: 5,848 SF

2012 Current rent roll:

1. 3bed 2bath $1335 per month
2. 1bed 1bath $1065 per month
3. 1bed 1bath $856 per month
4. 1bed 1bath $833 per month
5. 1bed 1bath $805 per month

Yearly expenses:

Property tax $5000
Insurance $1445
Utilities (water, sewer, trash & gardener) $3400

Scheduled Gross Income $58,728
Effective Gross Income $58,728
Operating Expenses $9,845
Net Operating Income $48,883

All units are separately metered and well equipped.
All units have their own gas water heater and gas apartment heater.
The 3 bedroom 2 bath unit contains a washer and a dryer.
Tenants pay their own electrical and gas charges.
Property is fenced in with driveway gate.
5 onsite parking spaces for small cars for each tenant.

Highlights:

Great South Los Angeles Location .
Building Stabilized with Paying Tenants
Great Cash on Cash Return
Low Price per Unit and Price Per Square Foot

Description:

The subject property consists of a five-unit apartment building, located on San Pedro Street, just north of Manchester between Broadway and Avalon.

The property was built in 1951 and consist of a unit mix of four one-bedroom/one-bath units and one three-bedroom/two-bath unit. The property sits on an 5,848 square foot lot and consist of 3,213 square feet of rentable space.

The location offers two markets in walking distance from the property and is accessible to public transportation and immediate freeway access. The subject property is just south of Downtown Los Angeles, along with its numerous amenities including Staples Center, L.A. Live, Nokia Theatre and the Coliseum, home to USC Trojan Football.

Price is NEGOTIABLE!! PLEASE MAKE ME AN OFFER!