Great Deal Alert
I have another pocket listing, same owner as the one I told you about last week, also in prime Echo Park. Once again, this is a distressed sale where the owner must sell quickly and, as a result, cannot place the property on the open market. For this reason, the property is being offered at a price that will work very well for either an investor or an owner user at $2.5 million.
If you are an investor, at 25% down, you will cash flow approx $3K/mo. There is still 10% upside in rents. Two of the four units are new construction and, as such, are not subject to rent control. If you are an owner-user who will live in one and rent the other three you will be living very close to ‘rent-free’; in other words, the rents from the other three will practically cover your monthly cost to live there.
Each unit is approx 1450 sq ft, 3 bed 2.5 bath. They are in excellent condition. Your home inspection will turn up virtually nothing in terms of repairs or updating expenses. It is a great street and has views and has 7 car parking. This is an asset that will nicely appreciate over time and will be very easy to manage the whole time.
If you think you might want it or want to know more about it, call me.
