151 S Mountainview Avenue, Los Angeles, CA 90057
List Price: $2.4M
Listing Status: Active
0Days on Market: 0
10 Bedrooms · 10 Bathrooms · 6,536 sq ft
Property Type: ResidentialIncome
Year Built: 1954
Lot Size: 6,388 sq ft
MLS Number: 26851443
About This Property
3rd Price Reduction and Now with Fully Approved RTI Plans! Renovated 10-unit building with RTI plans for 6 additional units cash flowing at an amazing 6.75% Cap Rate from day 1 with upside to 9.25% Cap on Proforma. RTI plans to add 6 new units in the garages to achieve a remarkable 11.3% Current Cap Rate, 13.7% Proforma Cap Rate, and only 175k/door after taking into account all construction costs (~415k assuming $300/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI Plans for additional units in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Listing provided by: Julio Ruiz DRE #01911261 424-394-1030 ziuroiluj@gmail.com, Global Platinum Properties, Inc.
Source: CRMLS, MLS #: 26851443
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.