Sold $749,000 - Triplex
I see this property garnering minimally $6000/mo income and needing very little work to get it there. On top of that, because of it’s location (right in the heart of Echo Park and walking distance to everything,) abundant parking, washer/dryer in each unit, wonderful back yard and views, it has marvelous upside as well.
You know I specialize in finding properties for your that have yet to be placed on the Multiple Listing Service (MLS) enabling you to acquire a property without having to engage in what are becoming an increasing number of bidding wars.
And here is one right now. First, a caveat …. this property is only legally a duplex but is currently being used as a triplex. However, all the square footage is legal and there are a number of ways to get maximum use out of this property to make it pencil out. I see this property garnering minimally $6000/mo income and needing very little work to get it there. On top of that, because of it’s location (right in the heart of Echo Park and walking distance to everything,) abundant parking, washer/dryer in each unit, wonderful back yard and views, it has marvelous upside as well.
At this monthly income, with 25% down, one would have a delicious 12% cash on cash return ! By the way, plumbing and electrical were both updated 18 mos ago. If you want to see it I can show it anytime.
