6914 Malabar St A-E, Huntington Park, CA 90255

Property Description

HUGE PRICE DROP-Great Investment Property- Proforma rents should give you a cap rate of 7.7% & a GRM of 9.35 with a NOI of $117,600. Long term tenants are all on month-to-month leases. The property manager lives in one of the 2 bedroom units at a reduced rate of $800 in exchange for her service which according to the seller does her job really well! No Rent Control in Huntington Park CA. PROJECTED RENTS around the area: 0bed/1bath- $850-$1,000 and 2bed/1bath-$1,500-$1,700. Spanish Style 7-Plex located on a wide open tree lined street in a highly sought after neighborhood in Huntington Park. 11 bedrooms and 7 bathrooms. A total of Four 2 bedroom, 1 baths and 3 studios with 1 bath each. Upgraded plumbing, windows and some electrical. Most units have had their kitchenettes replaced. Outside stucco has recently been repainted. There are 3 garage spaces. Property is secure with rod iron fencing and locking security gates on the sides and the back as well as bars on all of the windows. Huntington Park is a perfect location only 5 miles to Los Angeles city center offering residence more of an urban feel. Walking score of 74.7. All units have separate meters. Three of the 2 bedroom units have their own separate laundry rooms. One of the 2 bedrooms has added w/d in the kitchen. Property is gated and secure. There is a large interior courtyard shared by all units along with a small back patio. Old laundry room in 4 plex being used for storage, but could be extra income.