Great Deal Alert
Do you have any idea how hard it is these days to find a good solid property that is not a fixer where one can actually cash flow? I do. It’s real hard! But here is such a property and, more importantly, it is cash flowing on day one but also has huge upside. This is an income property on a very pleasant residential Boyle Heights street where tenants would be happy to live. The premises themselves are also very pleasant, with nice lawns, plenty of parking, plenty of open space and four very handsome structures, as you can see in the photos.
Most importantly, the property is selling for $157,000 per door, an almost unheard of metric anywhere in L.A. at this point in time. It is 3800 sq ft of dwelling space sitting on a 10,500 sq ft lot. At $7850/mo income it is selling at a 6.0 cap, yet has quite a bit of upside, or room to grow. Most of the rents are about 2/3s of market so as soon as anyone leaves you are just making more and more income. You will net $1000/mo on day one with plenty of opportunity over time to raise that up to as high $6000 or even $7000/mo in cash flow!
If you would like to purchase this property or would like to know more, give me a call and I will help you get it.
Ken Shapiro
Broker/Owner Silverwood Properties
818-237-6963
