Description
44 unit Single Room Occupancy residential hotel property with plans in ready to issue status to add kitchens and bathrooms to all units. Proposed plans ready to start construction include 41 studios and 3 one bedroom one bath units. Electrical upgrade to 600 AMPs has been initiated and MEPs are in plan check. Buyer has the option to operate As Is with 44 SRO units leased to new tenants at $1,050 per month with a proforma estimated cap rate of 6.26%. Do not walk property, call listing agent for more details.
This is a high cash flow opportunity in a Mid City LA neighborhood with a lot of new construction on the same block.
Location
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Courtesy of: Altman Apartments LLC The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 9th August, 2022 10:52 AM (UTC)
