Sold $429,000 - Triplex
lthough it’s being offered for $429K, I believe it can be had for much closer to $400K based on my conversation with listing agent. At $410K for example, plus $30K upgrade cost, it would yield a cash on cast return of about 12% ! There are no viable offers currently.
Years of eagle eyed real estate experience in North East Los Angeles has enabled me to spot investment properties with juicy returns that are ‘flying under the radar.’ This Glassell Park triplex is such a property.
Here are the specifics:
a) Two of the three units will be delivered vacant.
b) Renting those two units at market rent, plus the existing one, will give you approx $3900/mo income.
c) The large unit needs no work; the other two need some, but I estimate this is probably no more than about $30K.
d) The property has nice views, plenty of parking, and is in an upside location.
e) Although it’s being offered for $429K, I believe it can be had for much closer to $400K based on my conversation with listing agent. At $410K for example, plus $30K upgrade cost, it would yield a cash on cast return of about 12% ! There are no viable offers currently. I would jump all over it….
Call me if you want to pursue it.
