Sold $1,750,000 - Investment Property
Well, turns out you can still get value in Boyle Heights if you know your way around it . . . but not for long! Soon, “the cat will be out of the bag.” But in the meantime, you have this:
The property is thoroughly, beautifully and very recently renovated. It is getting $13,050 in rents which means, at this price, you can get about $4500/mo. in net income, or roughly 10% cash-on-cash return. It’s very, very hard to find that in any decent location these day. In fact, almost impossible. Plus, this is not a property you will be spending money on any time soon. On top of that, you have the upside situation that—even though you are currently earning enough rental income to have 10% return—you still have two low-rent tenants who, whenever they leave, will translate to an additional $2000 (!) income each month.
If you are interested, call me anytime.
