Description
Cash Cow Alert! Existing 6% Cap Rate and 11.9 GRM from Day 1. Large 7,168 SF Renovated building that features 8 large 2 Bed/1 Bath units. Priced only at $320/SF for fully renovated units that are cash flowing at a current 6% Cap Rate and 11.9 GRM with additional upside to an 8.2% cap rate and 8.9 GRM on the proforma. The offering features 16 tandem parking spaces (2 spaces per unit) in the covered carport area in the back. This Newer complex was built in 1977 and consists of two 4-unit structures that have been fully renovated in 2022. Individually metered for Gas & Electricity, Central AC/Heat for all units, as well as newer roofs. Preliminary plans to add 3 ADUs (1 Attached ADU in the Laundry room + 2 Detached ADUs over the back Carport) to further improve the numbers. Do not miss out on your chance to acquire a stabilized 8-unit apartment building located in a high-demand rental area of Panorama City!
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16BEDS
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0.26ACRES
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0BATHS
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01/2 BATHS
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7,168SQFT
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$320$/SQFT
School Ratings & Info
Description
Cash Cow Alert! Existing 6% Cap Rate and 11.9 GRM from Day 1. Large 7,168 SF Renovated building that features 8 large 2 Bed/1 Bath units. Priced only at $320/SF for fully renovated units that are cash flowing at a current 6% Cap Rate and 11.9 GRM with additional upside to an 8.2% cap rate and 8.9 GRM on the proforma. The offering features 16 tandem parking spaces (2 spaces per unit) in the covered carport area in the back. This Newer complex was built in 1977 and consists of two 4-unit structures that have been fully renovated in 2022. Individually metered for Gas & Electricity, Central AC/Heat for all units, as well as newer roofs. Preliminary plans to add 3 ADUs (1 Attached ADU in the Laundry room + 2 Detached ADUs over the back Carport) to further improve the numbers. Do not miss out on your chance to acquire a stabilized 8-unit apartment building located in a high-demand rental area of Panorama City!
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-03-24T08:27:22.713. 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 The Zia Group | eXp Realty. Licensed in the State of California, USA.