Subject property was constructed with frame and stucco in different years from 1907 to 1950. There are two separate buildings. All six spacious units are 2 bed and 1 bath. Cap rate is 7.93%. Though it is in a rent control area, the rent is increased 3% per year. Monthly rental break down is $995, $910, $1030, $975, $1000, $895. Separate electricity and gas meters. Owner has constantly maintained the property in a good condition. City inspection passed and certified and no building violations. A brand new public elementary school is next to it. Just a few minutes away from Downtown Los Angeles, near Dodger Stadium and China Town. Improvement is 6,116 sqft, only around $100 per sqft for this money maker. Seller is retiring and motivated. Subject property is located in Lincoln Heights. Just a few minutes from Downtown Los Angeles. Near Dodger Stadium and China Town. Just 10 minutes away from Walt Disney Concert Hall and Los Angeles City Hall. Historically, Lincoln Heights was a very prestigious area resided by well-known people. Easily accessible from Fwy 5, 110, 710, and 10.
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