BRAND NEW CONSTRUCTION (NON RENT CONTROLLED APARTMENT BUILDING) at $325 per Sq. ft. in booming neighborhood of RAMS Stadium. Only 3 min walk from new Florence/West LA metro station. There are total 12 very spacious unit - 9 units are 3 Bed/2 bath ranging from 1150 to 1350 sq. ft. , 2 units are 2 bed/2 bath at 950 sq. ft and one unit is 1 Bed/1 Bath on ground floor. Every unit comes with it's own private balcony and covered Reserved parking. Out of this, 2 units are reserved for affordable housing. Building has Recreational room and onsite Laundry. All the units are rented to Sec 8 LA Housing Authority, assuring the timely rent to owner. There is currently Freddie Mac non-recourse, assumable loan of $3,093,000 at 3.4%, so this will be transferred to new buyer. Buyer needs to bring the additional equity to purchase this. Monthly Gross Rental Income is $27,435 and monthly principal & Interest mortgage payment is $13,747.92. This comes at 4.92 CAP and 15 GRM. Location - Just under 2 miles to brand new 80,000 seat NFL Rams stadium, less than 2 miles away from the planned Hollywood Park development which will include about 500,000 SF retail & entertainment and more than 2500 residential units, this property's location screams for investors attention. This could be your best Investment for next 5-10 years as prices are going up consistently and growth in this area is higher as compared to other areas of LA.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
