Rare investor opportunity to acquire this bread & butter 4-plex located in a highly gentrifying area of prime Boyle Heights! Located just minutes from DTLA, this building features an excellent unit mix of (1) 3+1, (2) 2+1's, and (1) 1+1. This property was extensively remodeled appx. 4 years ago with new interior/exterior paint, kitchen cabinets, countertops, and appliances, new laminate hardwood floors, new bathroom vanities & tub/showers, new mirrored closets, new light fixtures, and new exterior fences. Currently 100% occupied...owner has never had any issues getting these units leased and the rents have been steadily increasing with plenty of upside to go. With today's actual rents the building is currently operating at an attractive 13.1 GRM and 5.88% cap...Once rents are brought to market the new owner could be looking at a pro-forma 11.26 GRM and 7.1% CAP rate. Truly ideal for a 1st time investor, 1031 exchange buyer, or someone just looking to owner occupy and collect extra income to help pay the mortgage. This convenient & desirable location puts you close to shopping, restaurants, parks, LA Live, Staples Center, DTLA financial district, & extremely easy access to freeways/transportation. With so much potential for upside this is one investment you won't want to pass up on and certainly will not last long!
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