This private, charming, turnkey investment, with current annual NOI over $111,000/yr. could be yours. Sheltered behind a tall privacy hedge in the Angelino Heights HPOZ, sits 7 individual, well-maintained Craftsman single family bungalows, each with their own private deck and outdoor space. These units were fully renovated in 2003 and converted into open concept studios; with vaulted ceilings, exposed beams and wood floors and windows. Because of its location in prime Echo Park, and its proximity to high-end amenities (newly renovated Echo Park lake, Lassen's, and multiple bars and restaurants), these units rent quickly. Well-maintained with newer roofs, sewer lines and decks. There is still quite a bit of upside. Units are SFR so possible TIC candidate. Total projected 2024 rent for all 7 units: $177,092/ yr. Pro forma rent: $247,221/ yr. (7.81% Cap rate). Current cap rate 4.86%. Permit history, general and sewer inspections, and rent rolls available for viewing.
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100
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