Built in 1989, not subject to LA Rent Control. Significant (20%) upside in rents that can be raised up to 10%/year. 14.1 x Gross & 4.4% cap with existing rents. 11.7 x Gross & 5.7% cap with rents at market. Existing loan is $5,500,000 at 3.25% fixed until 8/1/26, payable interest only until 8/1/23, due 8/1/2051. 4% cash on cash return at closing; 7.3% cash on cash with rents at market.
Listing courtesy of Listing Agent: Hamid Soroudi (firstname.lastname@example.org) from Listing Office: Keller Williams Beverly Hills.
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