Rare investment opportunity to own a large 14 unit apartment building nested in Baldwin Village, across the street from Jim Gilliam Park and Recreation Center, and near a new approved redevelopment for Baldwin Hills Crenshaw Plaza Mall. The redevelopment will consist of 1.2 million sq. ft of new housing (more than 900 apt and condos), hotel, 10-story office building and a walkable "Retail Village", sitting along a New Metropolitan Transportation Authority Station slated to open in less than 2 years and Kaiser Medical Center under construction. Building has great unit mix consisting of (2): 2 bedroom/2 bathrooms, (2): 2 bedrooms/1 bathrooms, (8): 1 bedroom/1 bathrooms and (2): Studios / 1 bathroom, covered parking, on-site manager, individually metered for electricity and gas, rent control area, community coined laundry room facility, large open courtyard, original pool is covered (cemented), 11 covered parking spaces, Actual Monthly Rents: $12,789, Monthly Laundry Income Average: $142, Annual GSI: $155,168, Vacancy Allowance: 3%, Annual GOI: $150,513, Cap Rate: 4.81%, GRM: 15.26%, Actual Monthly Rents include 3% upcoming rent increase. Great upside potential for rents in excess of 40%. "PLEASE DO NOT DISTURB TENANTS"
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