Description
New Pricing! Dubbed "The Coolest Street in Los Angeles" by Time Out Magazine 2022, this architectural Virgil Village four-plex has everything you want in an income property. An excellent unit mix of all 2BR/1BA apartments, two units have been completely remodeled and fetch market/near market rents. The remaining units are poised to replicate this process for substantial upside. A four-car detached garage in the rear provides additional storage income as well as potential for adding one or two ADUs. Here are some of the other highlights: *Bright and airy 2bd/1ba units all come with personal outdoor space. *4 garage units each receive $150/month/unit for a total of $600 in income per month. *Easy access to the 101 freeway and four blocks to the Redline Metro. *Four surface lot parking spaces in addition to the four-car garage. *Multiple potential development opportunities as the property is zoned LAC1 along with TOC Tier 3 and Opportunity Zone designations. *Located in the heart of Virgil Village and within a short distance from hot venues such as Vinovore and Sqirl, Erewhon, Tartine, Intelligentsia, and Courage Bagels. Priced at a 4.7 cap and 16.51 GRM with current income, and an unheard of 7 cap with pro forma income, this building is a great play for the savvy investor -- with excellent current income, and the opportunity to for even better upside.
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Listing Agent: Will Tiao 01918965 Courtesy of: The Collective Realty "All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Updated: 29th January, 2023 9:49 PM (UTC)
