Description
Newly renovated Spanish style multi-family property. Recent improvements include new electrical, plumbing, foundation, exterior/interior paint, flooring, kitchen and bathrooms. 3 of 4 units renovated. 1 of 4 units has under market renter. 3 of 4 units currently vacant and completing renovations and almost ready for lease up. Property consist of de-attached garage structured primed for an ADU conversion. Seller has plans to add 2 ADU's and construction documents ready to be submitted. In place 4.5% cap rate and 15xgrm. Once ADU's are added and last unit brought to market, property boast a remarkable 8% Cap rate and 11xgrm ant 11% yield on cost.
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Listing Agent: Adam Kanizo
Listing Office: LND Realty
