151 S Mountainview Avenue, Los Angeles, CA 90057
- $2,395,000
- 10
- BD
- 10
- BA
- 6,536
- SqFt
- List Price
- $2,395,000
- Status
- ACTIVE
- MLS#
- 26851443
- Year Built
- 1954
- Bedrooms
- 10
- Bathrooms
- 10
- Living Sq. Ft
- 6,536
- Lot Size
- 6,388
- Acres
- 0.15
- Days on Market
- 38
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
3rd Price Reduction and Now with Fully Approved RTI Plans! Renovated 10-unit building with RTI plans for 6 additional units cash flowing at an amazing 6.75% Cap Rate from day 1 with upside to 9.25% Cap on Proforma. RTI plans to add 6 new units in the garages to achieve a remarkable 11.3% Current Cap Rate, 13.7% Proforma Cap Rate, and only 175k/door after taking into account all construction costs (~415k assuming $300/SF). 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 for additional units 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. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town 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.
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Additional Information
- Appliances
- Refrigerator
- Attached Structure
- Detached
- Number Of Units Total
- 10
Listing courtesy of Listing Agent: Julio Ruiz (ziuroiluj@gmail.com) from Listing Office: Global Platinum Properties, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.