Description
This private, charming, turnkey investment, with current cap rate of 5.6% and annual NOI over $118,000/yr. could be yours. Sheltered behind a tall privacy hedge in the Angelino Heights HPOZ, sits 7 individual, well-maintained Craftsman single family bungalows, each with their own private patios and outdoor space. These units were fully renovated with permits in 2003 and converted into open concept studios; with vaulted ceilings, exposed beams and wood floors and windows. Because of its location in prime Echo Park, and its proximity to high-end amenities (newly renovated Echo Park lake, Lassen's, and multiple bars and restaurants), these units rent quickly. Well-maintained but with upside potential if you add laundry to each unit. Permit history, general and sewer inspections, and rent rolls available for viewing. Recent termite clearance provided. Motivated seller.
