5407 2nd Ave, Los Angeles, CA 90043
REDUCED! Four unit building with 4704 sqft on large 6152 sqft lot. Each unit is 2BD+2BA. One unit completely remodeled with hardwood flooring, new bath and kitchen, and currently vacant for owner occupant. Recently updated plumbing. New painting and carpet in hallways. Other units rented to easy tenants paying on time every month. Four (4) one-car garages with new roofs rented for $150/month and will be delivered vacant. Property has low monthly expenses. Gross Scheduled Income: $66,508. Total Expense: $19,973. Annual Net Income: $46,535. GRM 13.76. Cap Rate 5.04%. Walking distance to new Crenshaw Metro Line. This area is up-and-coming. Easy commute to Hollywood, downtown LA or Santa Monica, or new Inglewood football stadium. Tremendous upside in future. Price per sqft is amazingly low. Great for 1031 exchange. Property located in Economic Opportunity Zone (EOZ) for developers and tax deferment. A great property for long term hold. Appraised value $1,049,000 in March 2020.