Great Deal Alert $1,799,000 - Residential Income
It was a good deal then, especially for someone with the skills or the wherewithal to execute the plans for the rear unit; now it has been reduced in price and is officially a great deal! Specifics are as follows:
a) It will all be delivered vacant which is, of course, huge. b) Secondly, all three units are detached and there is plenty of yard space in between them. c) Thirdly, they each have a porch or a deck with fantastic downtown views. d) there are 4 garages with additional 4 car parking in front of the garages. e) the units have been thoroughly and tastefully renovated to where the one bedrooms should fetch $2700 each, and the two bedroom in the rear should fetch $3000. f) If you execute the approved plans and transform the rear two bedroom unit into a 7 bed 4 bath unit (one can easily break that up into three sub-rentals if they are so inclined) you could be looking at $5000/mo in the rear unit, or even $6000/mo or more! If you break them up in the rear (buyer to do own due diligence as to legality) you could be looking at up as much as $8000/mo just in the rear, plus the $5400/mo with the two front one beds.
This is a great property in one of the best Echo Park locations. If you want it or want to know more about it, contact me.