Well maintained 6 unit property right off the 405! Rent controlled area of Los Angeles, but the factor for this building is comparable to that of newer buildings in the area. (Factor of 23.66 vs. a comparable of a newer building in the area of 19.49) Covid -19 restricts the 4% raise that would normally happen per year with rent control. Pro-forma rent would generate $122,400 in gross income for the year. All 6 units are rented. Owner is constantly is updating building, most recently exterior lighting that 'Lights up like a Christmas tree!' New paint, new plumbing, and some newer windows are also recent additions. Three door garage is separate from main building, two cars in each garage so all tenants have parking. Unit 1-rent of 1600 Unit 2-rent of 1545 (due to be raised 4/20)Unit 3-rent of 1590 (due to be raised 4/21)Unit 4-rent of 1404 (due to be raised 9/20)Unit 5-rent of 1377 (due to be raised 9/20)Unit 6-rent of 1175 (due to be raised 10/20)Expenses:Repairs/maintenance- 4,425Cleaning-1,115Utilities-4,475Insurance-1,880Taxes- 22,040Management- 805(These are actual expenses for 2019 except taxes which are adjusted to the 2020 tax rate of 1.16% if the purchase was 1,900,000)
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.
