Listing Courtesy of: Armin Soleimani - Global Platinum Properties, Inc. 424-394-1030
$2,200,000 affordable loan icon Calculate Payment

Mountainview Ave Los Angeles, CA 90057

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Other Residence
10 Beds
10 Baths
6,536 Sq. Ft.
0.15 Acre Lot
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Last updated on 11/14/2024 1:50 PM

Listing Details

Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month ...(Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area. Continue reading
MLS#
24-463489
Property Type
Other
Bedrooms
10
Bathrooms
Year Built
1954
Square Feet
6,536 sq. ft
Price per Sq. Ft.
$336.60
Lot Size
0.15
Sewer
No Sewer
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Listing Courtesy of: Armin Soleimani - Global Platinum Properties, Inc. 424-394-1030
Barbara Lynn Simmons, License CALBRE 637579, Xome Inc., License CALBRE 1932600, [email protected], 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361


Based on information from Combined LA/Westside Multiple Listing Service, Inc. as of 11/14/2024. 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.
This content last refreshed on 11/14/2024 1:50 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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