I know, I know.... seems like a lot of money for just a duplex, but hear me out. Factually, when you see all the info below, this could possibly be the best investment deal in Echo Park right now! What you are buying is: a) two beautifully and thoroughly renovated units, each of which are 1600 sq ft two story 3 bed 3 bath units with parking and views. But additionally, you are buying b) the plans for two brand new construction 3 bed 2.5 bath 1450 sq ft units in the rear of the property. As the new owner you will have to take the permit process to completion, but it is already well in progress. All four units will fetch $4500 each. We estimate it will cost, between getting through the permit process and then building the units, a total of about $500K. This means that, for under $2.4 million you have four units that are grossing a total of $18,000/mo. If you care to hold it, you have a property that will net approx $5300/mo in cash flow, or close to 11% cash on cash return.
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Listing Courtesy ofSilverwood Properties