346 N Gardner St, Los Angeles, CA 90036

Property Description

We are pleased to present this 4 unit multifamily property located at 346 N Gardner St, Los Angeles, CA 90035. The property is in an excellent Fairfax District location, less than half a mile or a short 8 minute walk from The Grove.Built in 1930, this historic property has a great unit mix of all 2 bed / 1 bath units of approximately 1,380 square feet each. Three of the units are currently vacant and will be delivered vacant, renovated, and rent ready. Each unit has its own laundry room, beautiful French doors, and a private outdoor balcony or patio. Also, the property offers 4 secure garage parking spots in the back which could be converted to an ADU if the Buyer chooses.We received a great loan quote for this property. As of early September 2022, a qualied buyer can get a 3.70% interest only loan with a 40% down payment. With this loan, the buyer for this property will enjoy a great 5.73% cash on cash return after renting out the 3 vacant units. However, interest rates are changing quickly so please reach out to listing agent for an updated loan quote.This property is in an ideal Fairfax District Location. Nestled between West Hollywood and La Brea, Fairfax is best known for its major shopping destination: The Grove. Walk along the famous Melrose Avenue and stop by Pink's Hot Dogs to fully embrace the Los Angeles culture, but make sure to leave plenty of time to explore the other eateries and upscale boutiques that make the neighborhood so iconic. Plan ahead to watch a taping at CBS Television City, stay the night at a chic hotel, and catch the pop-up shops and concerts that frequent The Grove.