PRIME MID-CITY! TROPHY SPANISH 4-PLEX IN BEAUTIFULLY REMODELED CONDITION.
11 Beds • 8 Baths • 5,826 SF • 8,400 SF Lot • $1,799,000
5068 W 20th St, Los Angeles, CA 90016, USA
Well-maintained Spanish Fourplex with great rents, further upside potential, and character details galore. 2 of 4 units are remodeled. 5,826sq. ft. interior on a spacious 8,400sf lot. Units are a mix of 2 and 3 bedroom units. Western two units fully renovated in 2017, and eastern 2 units have classic original details. Hardwood floors, new recessed LED lighting, tankless hot water heaters, new low-e vinyl windows, fully remodeled kitchens with quartz counters and stainless appliances, remodeled bathrooms with subway tile, walk-in showers and new vanities.
Stated rents are accurate. 2 Units are at market rent, and other 2 units have long-term stable tenants (Under market. Value-add opportunity. Original condition.). Building currently grosses $10,182 per month with an attractive Cap Rate of 5.15% (with further upside!) and a GRM of 14.73.
Hot rental market situated in Mid-City Heights with easy access to the restaurants, shops and cafes on Pico, Picfair Village, Highly Likely, Miracle Mile, LACMA, Kasier Permanente, Culver City Art District. RARE OPPORTUNITY FOR A STRONG 4-PLEX IN TRENDY NEIGHBORHOOD.
Top 10 Features
- Trophy Spanish 4-Units.
- 5,826 sq. ft. interior.
- 8,400 sq. ft. lot.
- Great Cap Rate & GRM. Further Upside.
- Value-add opportunity (2 untis are under market by 40%)
- Tankless water heaters (2 units)
- Hardwood floors
- Renovated kitchens with Stainless Steel Appliances (2 units)
- New bathrooms with walk-in showers (2 units)
- Character Details Throughout
- Excellent location near Pico Area, Miracle Mile, West Adams, Culver City & the Art District