Sold $650,000 - Triplex
Here is an excellent example of what one can still do in Boyle Heights, though it won’t be long before this becomes nearly impossible to do there. What you have is three units, two of which are occupied and making $1000 and $1500 respectively. Then you have a 4-bed, 2-bath vacant unit which, when filled, will make about $2500/mo. We do not currently know its condition (your offer would, of course, have a physical inspection contingency), but I drove by and it seems to be in good condition. The vacant unit is being renovated and will be fully redone before the close of escrow.
Assuming no immediate work is needed, at this price one would realize $1500/mo positive cash flow or, at a $162K down payment, an 11% cash-on-cash return—and, as I have said repeatedly, in what is one of the best upside locations anywhere (Boyle Heights).
If you are interested and want to know more, contact me immediately.
