Excellent investment opportunity for a stabilized four-unit 2003 constructed building in a transit-rich location. Los Angeles Section 8 Voucher payment standards have recently been increased to $2962 per month for 3 bedroom units. 6.27 cap conservative proforma and 6.92% cash on cash return conservative proforma with only a $300 per month/unit increase. Proforma numbers are right around the corner! This property is under statewide rent contol, not City nor County of Los Angeles rent control. You could be at proforma within 2-3 years. The building includes 2 parking spaces per unit and the additional lot that serves as the driveway from the back street. Plenty of room to build out a laundry area and perhaps even add an ADU in the current parking area.
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