Great Deal Alert $995,000 - Duplex
I know, I know . . . this may seem like a lot of money for a duplex in Highland Park, until you know that:
a) It is already fully rented with great tenants paying market rent, which is $2850/mo for the 3-bed, 2-bath and $3725/mo for the 4-bed, 3-bath.
b) It has been very recently and very thoroughly renovated so it is highly unlikely you, as new owner, will be spending ANY money on the property anytime soon.
c) The tenants pay ALL utilities, including water.
It is very near all the shops and restaurants springing up at the north end of Figueroa and also on York Blvd., i.e., great walkability. Also, it has three-car parking. Lastly, the units are huge: The 3-bed is about 1200 sq ft and the 4-bed is about 2000 sq ft. The 4-bed also has a nice deck in the backyard.
You should be able to net about $1700/mo in income or $20,400 year. And with the way things are going in Highland Park, the units should support the allowed 3% annual rent increases. Let me know if you are interested and I will help you get it.