TREMENDOUS UPSIDE for this 4-Plex Building w/ tons of Rental Growth

2038 Hollenbeck Dr, Los Angeles, CA 90023

$1,050,000 After Repair Value -
$1,050,000 Asking Price -
$0 Cost of Repairs =
$0 Potential Profit

Property Details

Asking Price $1,050,000

After Repair Value $1,050,000

Costs of Repairs $0

Potential Profit $0

Living Area 3884 ft2

Property Type 4-Plex

Bedrooms 4

Bathrooms 4

Half Bathrooms 0

Parking 0

Listed with Agent Yes

EPI (Estimated Potential Income)

Potential Rental Income $57,360

Yearly Expenses $19,713

Property Taxes $11,813

Net Operating Income $37,648

Cap Rate N/A

Property Description

TREMENDOUS UPSIDE for this 4 plex building with tons of rental growth potential along with rapid city development. There will be a new bridge that connects Boyle Heights to the Arts District and you can imagine all the change that will happen once that is completed. Google \"Sixth Street Viaduct\" for more information. This property is located across the street from Hollenbeck park. Excellent and desirable location. All units are approximately 950 sq ft. The new owner can convert each unit into 2 bedrooms. There is a carport with 4 parking spots, one for each unit. Additionally, 4 cars can be parked behind it. One of the unit has been remodeled with a washer and dryer in the unit and collecting $1690 in rent. All other units can be remodeled to maximize income. Many upgrades have been done within the last few years including new roof, new electrical panel and partial plumbing was replaced. Separate meters for gas and electricity. All units are tenant occupied and will be delivered with tenants at closing. PLEASE DO NOT DISTURB TENANTS! OM package is available upon request.


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