Description
Beautiful Spanish character cottages. Walk to Fairfax and San Vicente! 3 Units delivered Vacant at close of escrow! Massive upside potential. Tenants paytheir own water, electricity, gas and trash as all utilities are on separate meters for gas, electric, and water. Convert the 3 car garages to an ADU plus addan additional unit on top. With the ADU additions the potential increased revenue will be $141,120 and the cap will be potentially 6.6%. The current ownership has remodeled two of the cottages. The front home features high barrel ceilings, remodeled kitchen, in unit washer and dryer, tankless water heater, new tile flooring, new counter tops, fresh paint and beautifully preserved hardwood flooring. R3 zoned, potential to build 15 units using TOC density bonus. A new 17 unit building is being built next door and it's 4 months from completion. Miracle Mile is a great rental market, attracting a huge supply of A+ tenants looking for quality units in a premium location. Convenient access to transit, employment, retail and entertainment venues. Minutes to downtown LA, Beverly Hills, Santa Monica and Culver City.
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School Ratings & Info
Description
Beautiful Spanish character cottages. Walk to Fairfax and San Vicente! 3 Units delivered Vacant at close of escrow! Massive upside potential. Tenants paytheir own water, electricity, gas and trash as all utilities are on separate meters for gas, electric, and water. Convert the 3 car garages to an ADU plus addan additional unit on top. With the ADU additions the potential increased revenue will be $141,120 and the cap will be potentially 6.6%. The current ownership has remodeled two of the cottages. The front home features high barrel ceilings, remodeled kitchen, in unit washer and dryer, tankless water heater, new tile flooring, new counter tops, fresh paint and beautifully preserved hardwood flooring. R3 zoned, potential to build 15 units using TOC density bonus. A new 17 unit building is being built next door and it's 4 months from completion. Miracle Mile is a great rental market, attracting a huge supply of A+ tenants looking for quality units in a premium location. Convenient access to transit, employment, retail and entertainment venues. Minutes to downtown LA, Beverly Hills, Santa Monica and Culver City.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-18T23:35:35.913. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.