This excellent investment opportunity is conveniently located two blocks north of Kaiser South Bay medical center, with excellent access to PCH, the 110 freeway, and multiple transit lines. The property is well maintained, and offers 4 one-bedroom, one-bathroom units and 12 studio units, spread across two floors. Amenities include 18 on-site parking spaces (one per unit plus 2 guest spaces) behind a controlled-access gate. The building also houses two laundry rooms, with one washing machine conveying with the sale, and the remaining machines leased from Dadson. The new owner may further increase cash flow by cancelling the laundry service lease and buying privately owned machines, with an estimated additional monthly cash flow of $500-$800 per month. Rents have been routinely raised to remain on-pace with area expectations. Currently, the building has 93.75% occupancy, with only one vacant unit (#5 seen in photos). All rents were increased last on 6/1/2022, so an additional rent increase may be enacted at the new owners discretion. Where else in LA can you get almost a 4%+ cap rate for under $200k per door? Don't sleep on this opportunity.
This excellent investment opportunity is conveniently located two blocks north of Kaiser South Bay medical center, with excellent access to PCH, the 110 freeway, and multiple transit lines. The property is well maintained, and offers 4 one-bedroom, one-bathroom units and 12 studio units, spread across two floors. Amenities include 18 on-site parking spaces (one per unit plus 2 guest spaces) behind a controlled-access gate. The building also houses two laundry rooms, with one washing machine conveying with the sale, and the remaining machines leased from Dadson. The new owner may further increase cash flow by cancelling the laundry service lease and buying privately owned machines, with an estimated additional monthly cash flow of $500-$800 per month. Rents have been routinely raised to remain on-pace with area expectations. Currently, the building has 93.75% occupancy, with only one vacant unit (#5 seen in photos). All rents were increased last on 6/1/2022, so an additional rent increase may be enacted at the new owners discretion. Where else in LA can you get almost a 4%+ cap rate for under $200k per door? Don't sleep on this opportunity.