Listing price: $1,395,000
This is an incredible opportunity to own a beautifully renovated Spanish duplex with market rents in a fantastic Mid-Wilshire neighborhood, with 2 ready to build ADUs for a fantastic price. Both ADU units (one 2BR/1BA and another 1BR/1BA) have architectural plans and all pre-construction feasibility work done.
The existing duplex (3BR/2BA and 2BR/2BA) has fantastic curb appeal and strong market rents. Both units leased at strong market rents with no Covid rent deferments allowing for maximal passive income, while building 2 additional ADUs – if the ambitious owner so desires.
Pro Forma GRM with both ADU units is at 12.9 with a 6.4% Cap Rate. Perfect for owner/user or an investor looking to maximize ROI. Centrally located, this property is ideally situated close to Miracle Mile, The Grove, Beverly Center, LACMA Museum, restaurants and much more.
Contact Will Tiao at (323) 363-1096 for more information on this property.