210 N KENMORE CAN BE PURCHASED TOGETHER WITH 515 N MARIPOSA AVE. Cap rate and GRM assumes forward-looking 5% annual rent increases per the scheduled dates listed on page 17 of our OM through 7/1/2020 and that Vacant Unit 5 is leased at market rent. Twelve large studios built in 1924. Strong in-place cash flow with upside in rents. All units feature original hardwood floors, large full kitchens and bathrooms and a significant amount of closet space with some units also featuring walk-in closets, additional sitting space next to the bathroom, wall heating and wall AC units. The landlord pays for water and gas and the tenants pay for trash and separately metered electricity. Parking is provided on-site with four (4) single surface spaces and the tenants are currently paying an extra fee each month per parking space. The property features a laundry room with one washer and dryer that are both owned by the landlord.
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