6339 10th Avenue

Description

Incredible opportunity in the vibrant city of Los Angeles! This charming 6-unit property offers a remarkable chance to enhance and expand your real estate portfolio. With an attractive 7.0% Cap Rate, this building, constructed in 1990 (buyer to do own diligence on RSO restrictions), showcases significant potential for multiple ADUs and substantial rental growth. Spanning a generous 8,309 square feet on an expansive 11,000 square foot lot, this property also boasts an astounding 12 parking spaces! It features four spacious 4-bedroom units, perfect for families, alongside two well-appointed 2-bedroom units. Larger, family-sized units like these consistently demonstrate more favorable expense ratios; operating costs don't scale linearly with unit size, meaning stronger net operating income and greater long-term efficiency for owners. Additionally, the property includes an assumable $1.56M loan with a remarkably low 3.17% interest rate locked through 2028 (with capped increases thereafter), resulting in substantial positive leverage. With a 64% Loan-to-Value (LTV) and a compelling 13.6% cash-on-cash return at the asking price, this offering embodies an exceptional investment profile. This is an unusual chance to secure today's pricing at a 7.0% cap rate, paired with interest rates from four years ago and a significantly favorable LTVa combination virtually unheard of in today's market. Don't miss out on this outstanding opportunity!