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Listed by Adam Kanizo of LND Realty
Presenting a renovated and well maintained 4-unit multi-family property at an in place 4.75% Cap rate. The property comes with RTI plans to add two adu's. Upon completion of the adu's and investor will benefit from immediate upside bringing the new cap rate to 6.4% without having to do any tenant buyouts. Upon the last below market unit becoming vacant the property will be at a 8.39 Cap and 9.7 GRM. Investor has ability to attain section 8 renters which adds a layer of reliability, offering guaranteed income and a secure investment as sec 8 rents for 90028 zipcode are $3120, current in place rents are $2795 for the renovated 2bds.. An additional advantage is the delivery of one unit vacant, providing investors with the flexibility to attain owner occupancy financing. Don't miss this rare opportunity to own a turnkey multi-family property with immediate income & a clear business plan for immediate upside. The property is located walking distance to the Netflix's campus and sunset Bronson studios and everything the heart of Hollywood has to offer.

Property Details of 5734 Fountain Avenue

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Based on information submitted to CRMLS as of February 23, 2024 5:56 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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