4538 Abbey Pl, Los Angeles, CA 90019

Property Description

This is a rare opportunity to purchase two homes on 1 lot in a fantastic Mid-Wilshire location for less than the price of one nearby single family home. Currently the average sales price of new construction houses within a half mile radius of this stunning property is $2,408,750. Why spend that much on a single house when you can purchase two enormous 4 bedroom side-by-side homes for a total of $1,700,000– that’s only $850,000 a piece! The options are endless. Occupy the breathtaking 4 bedroom/3.5 bathroom house with large enclosed yard and rent the other 4 bedroom/3 bathroom for a market rent of $4,900. OR, if you are an investor, rent out both units for a pro forma monthly gross income of $9,900 (a whopping $118,800 per year!). The cap rate fully rented is an incredible 5.39%. Whether you are an investor or owner occupier, this new construction property offers a strategic route to growing wealth exponentially while owning a luxurious, high quality, easy to maintain product. Notable features include: separate meters for gas, water and electric, 1 year builder’s warranty, enormous units that are 1,816 square feet each, top of the line stainless steel appliances, and an overall quality of construction you won’t find anywhere else. On top of that, the location of this property is unbeatable!