INVESTORS: 14.5% RETURN! Both units have Sec 8 tenants, actual rents $2500 and $2275, TOTAL $4775/mo or $57,300/yr. (Tenant sec deposit is $7145). Tenants pay Gas and Electric; 90% rent comes from the Fed Govt. Rents in South Central LA for 4-bed units are already approaching $3000/mo, so there is HUGE UPSIDE in East LA. ACTUAL monthly expenses are $32 for Trash, $40 for Gardner and $134 for Water (total $2472 per year). Add Insurance $635, est. Taxes $8500 and est Maint/Repairs $2000, for TOTAL ANNUAL EXPENSES of $13,600. NET INCOME $43,700. Mort pmt with 20% down, 4.5% interest is $2736/mo or $32,832 a year, leaving $10,868 POSITIVE CASH FLOW. Add $8712 in Year 1 principal reduction - TOTAL $19,580 or 14.5% RETURN on down payment. Units built in 1949/2009, upgraded with tiles, granite, new windows/doors/flooring, W/D conxns and gated parking. V. Clean in a desirable residential area. DON'T MISS THIS OPPORTUNITY!! Buyer to verify everything.
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