Excellent 4 unit building located near Studio City. Built in 1979 and eligible for rent increase of 7.5% by August 2020 which will increase the rental income to $99,007. Achieve 13.63 GRM as of August 2020. Subject consists of (four) 2 bedroom + 2.5 bath townhome style apartments with approximate rentable square footage of 4,796 per assessor. Property has in-unit washer/dryer, dishwashers, central a/c & heat, and fireplace. Per owner, units 1 and 3 had water overflow issue and the entire first floor for both units has been replaced and owner?s insurance has approved to replace kitchen cabinets in both units. Tenants in both units are not paying rent. Similar properties in the area are in escrow between $1,599,000 -$1,799,000. Submit all cash offers only.
Courtesy of Keller Williams Encino-Sherman Oaks, Anie Mayelian - CA BRE#00778825
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