Sold $950,000
The house itself has 5 beds and 3 baths with beautiful original everything, and is about 4500 sq ft with panoramic, 180 degree views across the west side of the city, including the Hollywood sign and Observatory. Two of the rental units are really charming. The third one would need some work.
This one makes my mouth water. Check it out!
If you could have a wonderful old huge Craftsman style home in a great Silver Lake location, plus have 3 rental properties to hugely defray the monthly mortgage down to almost nothing, would this be of interest to you ??? Well, that’s what we’ve got here! On the MLS the asking price is almost $1.2 million, but I have it on very reliable authority that it can likely be had for around $950K.
I estimate it would take a total of $100K worth of updating to get it in top shape. So, if you could come up with the 20% down and also the money to upgrade, you have a very sweet deal!
Added bonus: the property can be delivered vacant so one can get current market rents. I am estimating the rents at around $4000 (not including the main house.) The main house might even rent for $4000 on it’s own, or possibly more. Also, the systems (plumbing, electrical, etc.) have recently been updated so it’s quite habitable right this minute. One could upgrade as they go.
The house itself has 5 beds and 3 baths with beautiful original everything, and is about 4500 sq ft with panoramic, 180 degree views across the west side of the city, including the Hollywood sign and Observatory. Two of the rental units are really charming. The third one would need some work.
This would be a property you would be very proud to have in your portfolio and it would be profitable. Or, it would be just a great place to call home with lots of additional income coming in at the same time.
