Description
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)
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0BEDS
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0.19ACRES
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01/2 BATHS
School Ratings & Info
Description
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)
Based on information from CRISNet MLS as of 2021-03-03T23:57:05.027. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
Based on information from the i-Tech MLS as of 2021-03-03T23:57:05.027. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.