Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
151 S Mountainview Avenue
Los Angeles, CA 90057
Beds
10
Baths
10
Square Ft.
6,536
$2,595,000
Renovated 10-unit building with plans for 6 additional units cash flowing at an amazing 6% Cap Rate from day 1 with upside to 8.4% Cap on Proforma. Preliminary plans to add 6 new units in the garages to achieve a remarkable 10.2% Current Cap Rate, 12.6% Proforma Cap Rate, and… Read More only 188k/door after taking into account all construction costs (~415k assuming $300/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. Plans for additional units in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area. Read Less
Listing Snapshot
Days Online
10
Last Updated
Beds
10
Square Ft.
6,536
Lot Size
0.15 Acres
Year Built
1954
MLS Number
25621599
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1954, Living area: 6536.0, 1 building, 2 stories, Levels: Two
Floors
Laminate
Income
Gross Income: $221,630, Net Operating Income: $156,878
Lot
0.1466 acres
Parking
8 total parking spaces
Taxes
Parcel Number: 5154006009, Zoning: LAC2
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