Description
Brand new 4plex in West Adams at 2414 Clyde Avenue, 90016. Originally built in 1964, all 4 units have been completely remodeled with brand new copper plumbing, HVAC, flooring, countertops, kitchens, bathrooms, washer & dryers, appliances, cabinets, etc. The exterior underwent a full rehab as well with a new roof, new asphalt/driveway, gated entry, drought-tolerant landscaping and exterior lighting. Electrical sub-panels are also new. Currently grossing $97,908 a year in rents, Buyer will be sitting on a 5% cap rate on day 1 of ownership. Each unit is on RUBS, which means tenants pay for all utilities and the Landlord only pays for exterior and common area utilities. Per the tenants leases, next year, the rents will jump from $97,908 to $105,240 and the cap rate will go from 5% to 5.50%. The subject property is located in a 1-1.5 mile radius from the Culver City Arts District, Kaiser Permanente West LA, the new Cumulus Development Project & the La Cienega/Jefferson Metro Station.
-
8BEDS
-
0.11ACRES
-
0BATHS
-
01/2 BATHS
-
2,928SQFT
-
$490$/SQFT
School Ratings & Info
Description
Brand new 4plex in West Adams at 2414 Clyde Avenue, 90016. Originally built in 1964, all 4 units have been completely remodeled with brand new copper plumbing, HVAC, flooring, countertops, kitchens, bathrooms, washer & dryers, appliances, cabinets, etc. The exterior underwent a full rehab as well with a new roof, new asphalt/driveway, gated entry, drought-tolerant landscaping and exterior lighting. Electrical sub-panels are also new. Currently grossing $97,908 a year in rents, Buyer will be sitting on a 5% cap rate on day 1 of ownership. Each unit is on RUBS, which means tenants pay for all utilities and the Landlord only pays for exterior and common area utilities. Per the tenants leases, next year, the rents will jump from $97,908 to $105,240 and the cap rate will go from 5% to 5.50%. The subject property is located in a 1-1.5 mile radius from the Culver City Arts District, Kaiser Permanente West LA, the new Cumulus Development Project & the La Cienega/Jefferson Metro Station.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-20T07:42:18.617. 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.