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Listing Details

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School Ratings & Info

Description

1 Unit now delivered tenant-ready! Great opportunity to own a Non-Rent Controlled, 85 Construction property at 733 Bernard St., Los Angeles. New buyers can take advantage of this Value-Add, NON-RENT CONTROLLED asset, currently operating at a 4.76% CAP, with still plenty of room to grow the monthly income. This Echo Park adjacent 6-Unit asset is located only one block away from Dodgers Stadium!Bernard St. has a very strong unit mix, comprised of (6) 2-bedroom/2- bath units. There is plenty of tuck-under parking on the property, enoughspace to fit over 10 cars. Units are in good shape, featuring Central A/C & Heat, and copper plumbing. All units are currently receiving good rental income, with the property operating at a 4.76% Cap and 13.75 GRM. There is still over 23% upside in rental income available, offering a proforma 6.51% Cap and 11.02 GRM. Property is separately metered for gas and electric.Only minutes away from Downtown Los Angeles, Echo Park, & Silverlake, this Non-Rent Controlled asset is an ideal pickup for any exchange buyeror investor looking to own a cash-flowing property, with still plenty of upside in market rents.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/116977371
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733 Bernard Street Los Angeles (City), CA 90012

  • Price: $1,900,000
  • Status: Active
  • Updated: 230 min ago
  • ID#: SB21099601
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1985
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
1 Unit now delivered tenant-ready! Great opportunity to own a Non-Rent Controlled, 85 Construction property at 733 Bernard St., Los Angeles. New buyers can take advantage of this Value-Add, NON-RENT CONTROLLED asset, currently operating at a 4.76% CAP, with still plenty of room to grow the monthly income. This Echo Park adjacent 6-Unit asset is located only one block away from Dodgers Stadium!Bernard St. has a very strong unit mix, comprised of (6) 2-bedroom/2- bath units. There is plenty of tuck-under parking on the property, enoughspace to fit over 10 cars. Units are in good shape, featuring Central A/C & Heat, and copper plumbing. All units are currently receiving good rental income, with the property operating at a 4.76% Cap and 13.75 GRM. There is still over 23% upside in rental income available, offering a proforma 6.51% Cap and 11.02 GRM. Property is separately metered for gas and electric.Only minutes away from Downtown Los Angeles, Echo Park, & Silverlake, this Non-Rent Controlled asset is an ideal pickup for any exchange buyeror investor looking to own a cash-flowing property, with still plenty of upside in market rents.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 6 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Heating Forced Air Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.76 Common Interest None Community Features BikingCurbsDog ParkFoothillsHiking Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 138156 Gross Scheduled Income 138156 Insurance Expense 0 Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 90450 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 43562 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Lar3

Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660