BEST PRICED DEAL IN ALL OF LOS ANGELES - UNDER 11.8X GRM with upside to a 5.9% CAP and 10.8X GRM. 16 units located in Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and all units have been remodeled. The current owner has spent over $225,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market. 9 of 16 tenants are government subsidy (Section 8, Brilliant Corners or US Vets) meaning over 50% of your monthly income is guaranteed to be paid and not subject to potential COVID hardship issues. Earn over 9% cash on cash against in place rents. Contact LA for more info including a setup and Rent Roll.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
