Property Description

2 Units now delivered tenant-ready! Great opportunity to own a Non-Rent Controlled, ‘85 Construction property at 733 Bernard St., Los Angeles. New buyers can take advantage of this Value-Add, NON-RENT CONTROLLED asset, currently operating at a 5.33% CAP, with still plenty of room to grow the monthly income. This Echo Park adjacent 6-Unit asset is located only one block away from Dodgers Stadium!rrnBernard St. has a very strong unit mix, comprised of (6) 2-bedroom/2- bath units. There is plenty of tuck-under parking on the property, enoughrrnspace to fit over 10 cars. Units are in good shape, featuring dishwashers, Central A/C & Heat, and copper plumbing. All units are currently receiving good rental income, with the property operating at a 5.33% Cap and 12.64 GRM. There is still over 23% upside in rental income available, offering a proforma 6.70% Cap and 10.73 GRM. Property is separately metered for gas and electric.rrnOnly minutes away from Downtown Los Angeles, Echo Park, & Silverlake, this Non-Rent Controlled asset is an ideal pickup for any exchange buyerrrnor investor looking to own a cash-flowing property, with still plenty of upside in market rents.

Residential Income

Street 733 Bernard
Los Angeles California 90012

Basic Details
Property Type : Residential Income
Status : Active
# of Rooms : 0
# of Bathrooms : 0
SF : 0SF
HOA : $0
Parking : 0
Lot SF : 6,264SF
Lot PPSF : $295
Year Built : 1985
Virtual Tour : Not available
Agent info
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