Description
*FINANCIALS ARE PRO-FORMA - CURRENT RENTS ARE SUBSTANTIALLY BELOW MARKET. See Marketing Package, Rent Roll (Documents). Value-add 5-unit apartment built 1955. Unit mix = (1) 2bed+2bath (roughly 800 SF), (2) 2bed+1bath (roughly 705 SF), (2) 1bed+1bath (roughly 550 SF). Roughly 45% upside. Ability to add laundry/storage income, and possibly convert 3 garages to ADUs? Units are dated, but well-maintained. New roof done 4 years ago. All new bathrooms in all units done in last 2-4 years. Has been owned long term in a family trust for almost 20 years. Larger lot with mature landscaping, trees, shade, and a grass lawn. (3) 1-car storage garages in the rear (allocated to 2-bedroom units), + additional common laundry/storage area with storage lockers and laundry hookups. Roughly 4-5 parking spaces in the rear, accessible via alley. 1 tenant has about 6-months remaining on current lease. All others month-month. Quiet, residential area w/ easy access to 805 freeway. Information deemed reliable, but not guaranteed. All buyers must take appropriate measures to verify all information set forth herewith.
Map
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