Description
This 8 unit property located near the corner of Washington and Ridgeley includes a mix of 1 bedroom and 2 bedroom rental units, three of which are Section 8 housing. It is central to many Los Angeles attractions: 8.9 miles to LAX, 4.3 miles to Beverly Hills, 3 miles to The Grove, and about half a mile to a big Target store. It is also within walking distance to the metro station on La Cienega.This property is a well-oiled working machine and has big income potential because of the location. The two bedroom units are renting for $1850 and the one bedroom units for $1450 with a rent increase of 3% every year. The property is paying for itself, nothing out pocket for the seller. The rental rates could be maximized - the seller was not able to maintain the yearly increase.The water heater was changed last year, 2020. The whole building was painted 5 years ago. In 2017, the roof was fixed for leaks, the roof of the carport was replaced, no major repairs.
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0BEDS
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0.22ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
This 8 unit property located near the corner of Washington and Ridgeley includes a mix of 1 bedroom and 2 bedroom rental units, three of which are Section 8 housing. It is central to many Los Angeles attractions: 8.9 miles to LAX, 4.3 miles to Beverly Hills, 3 miles to The Grove, and about half a mile to a big Target store. It is also within walking distance to the metro station on La Cienega.This property is a well-oiled working machine and has big income potential because of the location. The two bedroom units are renting for $1850 and the one bedroom units for $1450 with a rent increase of 3% every year. The property is paying for itself, nothing out pocket for the seller. The rental rates could be maximized - the seller was not able to maintain the yearly increase.The water heater was changed last year, 2020. The whole building was painted 5 years ago. In 2017, the roof was fixed for leaks, the roof of the carport was replaced, no major repairs.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-19T20:34:37.62. 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 Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.