10 Units Near Downtown LA
6.4% and 11 GRM with incredible 88% upside to 11.78% Cap Rate on Proforma! Priced at only $195k/door!
151 S Mountainview Street, Los Angeles, CA 90057
$1,950,000
Offering Price
6.40 %
Cap Rate
11.08
GRM
10
Number of Units
Description
  • Huge 450k Price Reduction! Value-Add 10-unit building with 4 fully renovated units with permits (100% occupied) in the historic Filipino Town priced at only $195k/door and $298/SF. Amazing Current Cap Rate of 6.4% and 11 GRM with an incredible 88% upside to 14% Cap Rate and 5.9 GRM on proforma. Plus, there are Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 162k/unit, 9.4% Cap Rate, and 8 GRM on Current with upside to 17% Cap Rate and 4.9 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 heart of LA 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.
  • 10 Unit building with 4 fully renovated units with permits (100% occupied) in trendy Historic FilipinoTown area near Echo Park priced at only $195k/door and $298/SF
  • Amazing Current Cap Rate of 6.4% and 11 GRM with an incredible 88% upside to 14% Cap Rate and 5.9 GRM on the proforma
  • Easy To Rent Unit Mix of 10 large (1bed/1bath) units which maybe reconfigured for additional bedrooms
  • Individually metered for Gas & Electricity
  • Preliminary plans to add 2 attached ADUs in the Garages which will eliminate/reduce soft-story scope of work and cost
  • Rare 8 Vacant single Car Garages for additional income and ADU potential
Location - Historic Filipino Town
  • The convenient location makes it easy to access the 101 and 110 freeways. With a variety of public transportation options, including buses, shuttles, and light rail lines, anyone can get around easily. The local streets are lined with beautiful palm trees and great restaurants. The creative and cultural heart of the city is alive and well here, making it a great place to live for anyone looking to explore all that Los Angeles has to offer. There are also plenty of unique restaurants, boutiques, and nightlife options available in this vibrant part of town. From trendy taco spots to artisanal coffee shops, there is something for everyone in this unique area. Whether you're looking for art galleries or funky bars, you can find what you're looking for while exploring hip neighborhoods like Downtown LA.
FOR MORE DETAILS CONTACT
Armin Soleimani
Realtor
(310) 666-2246
ziuroiluj@gmail.com
Lic: 01846872
Julio Ruiz
Broker
(818) 524-0706
ziuroiluj@gmail.com
Lic: 01911261