Great investment opportunity to own 9 X 2 bedroom units. Over 9,746 sq. ft. building on 8,100 sq. ft. R3 zoned lot. 30 % upside rent potential, Actual monthly rent: $12,980, Yearly GOI: $155,760, Current GRM: 12.8 – Market rent: $1,900/unit – Performa Yearly GOI: $205,200- Price per sq. ft.: $205 Building presents well, , 6 % cap rate, all units individually metered for Electricity and gas, 7 parking spaces, and a community laundry room, Camera system. 4 units close to Market rent $1800-$1920 and 5 units average $ 1100 monthly.
The building is situated close to the Baldwin Hills Crenshaw Plaza, an existing shopping center with approved plans to be redeveloped into 961 residential units, 300,000 square feet of retail and restaurant space, a 10-story office building, and a 400-room hotel. Also within one block is the brand new Kaiser Permanent facility slated to open late 2017 after a $90 million investment in construction costs.