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listing
1 of 18
Residential IncomeFor Sale
$1,950,000
151 S Mountainview Street
Los Angeles, CA 90057
Listed by Armin Soleimani DRE#01846872 arminsoleimani@gmail.com Global Platinum Properties, Inc.
MLS: California Regional MLS (CRMLS)
10Beds
10Baths
6,536Sq Ft
Est. Mortgage
$10,166/mo

Huge 450k Price Reduction and Now offered with Higher Rents! Value-Add 10-unit building with 4 fully renovated units with permits (100% occupied) in the historic Filipino Town priced at only $195k/door and $298/SF. Amazing Current Cap Rate of 6.5% and 10.8 GRM with an incredible 75% upside to 13.1% Cap Rate and 6.2 GRM on proforma. Plus, there are Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 162k/unit, 9.5% Cap Rate, and 8 GRM on Current with upside to 16.1% Cap Rate and 5.1 GRM on Proforma after ADUs. 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 to add 2 Attached ADUs 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. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the heart of LA 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.

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Information courtesy of Global Platinum Properties, Inc. is subject to verification and is not guaranteed.
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