Price drop! Seller is motivated! Priced to sell at $2,445,000, this property has a 14.03 GRM and 5.47% cap rate. This 5-unit turn-key Westlake apartment complex has been renovated down to the studs and is an incredible opportunity for an investor wanting passive income. The building includes (2) 2 bedroom/1.5 bath units, (2) 3 bedroom/1.5 bath units, and (1) 3 bedroom/2 bath unit.
Centrally located, the property sits around the corner from Silver Lake, Echo Park, and DTLA, and a short distance from the ever-evolving MacArthur Park and LaFayette Park areas. Being within easy reach of the Metro Red and Purple lines and minutes away from the 101,110, and 2 other freeways, this property includes 10 resident parking spaces with the potential for generating additional income. 4 of 5 tenants are on RUBS (tenants pay shared utilities) so owner has low operating costs. With every conceivable amenity within reach, this property will surely shine as the crown jewel in your investor portfolio.
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