High LTV 86 Units (Brick) in Los Angeles County Price: $5,750,000

High LTV 86 Units (Brick) in Los Angeles County

Price: $5,750,000

 

No. Units: 86

Building Size: 57,498 SF

Price/Unit: $66,860.47

Property Type: Multifamily

Property Sub-type: Mid/High-Rise

Property Use Type: Investment

Cap Rate: 7.53%

Gross Rent Multiplier: 7.47

Occupancy: 100%

No. Stories: 4

Year Built: 1924

Lot Size: 0.51 AC

 

Highlights

Maximum Leverage for Smart Investor

Tremendous Upside Potential

Heavy Foot Traffic/ High Density Area

Close Proximity to Downtown and Many Points of Interest

Description

 

48-unit and a 38-unit property located in the Westlake neighborhood of

Los Angeles, CA.. Built in 1924, the two four-story properties present a strong unit mix of forty single units and

thirty three single units each, seven one-bedroom/one-bathroom units and three one-bedroom/one-bathroom

units each, and one two-bedroom/one-bathroom unit and two two-bedroom/one-bathroom unit, separately. There

are a total of 10+ parking spaces in between the buildings and one building is separately metered for electricity.

Situated in a dense rental market, these two properties lie within walking distance to many parks, restaurants,

stores, and schools. It is conveniently located east of the 110 and south of the 101.

This package-deal has a loan that must be assumed, which identifies the perfect opportunity for an investor to

grow their portfolio substantially with very little money down i.e. buyer will reap the benefits from the leverage.

 

Financial Summary

Debt & Equity Information

10-Year yield maintenance loan. Fixed until

February 2019. Lender: Fannie Mae.

Actual

2012 - $770,076

           $770,076

           $299,544

           $434,878

Debt Type Existing Loan with Fane Mae

Loan Amount $4,360,000

Interest Rate 6.19%

Amortized Over 30

 Due In 6

Annual Debt Service $320,104

Down Payment  $1,240,000

Call 714-606-6100 email mweahunt@gmail.com

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