Mayelian Group presents a beautiful Spanish character cottages. Walk to Fairfax and San Vicente! 75% delivered Vacant at close of escrow! Massive upside potential. Tenants pay their own water, electricity, gas and trash as all utilities are on separate meters for gas, electric, and water. Convert the 3 car garages to an ADU plus add an additional unit on top, please email to receive additional information on ADU's. With the ADU additions the potential increased revenue will be $141,120 and the cap will be potentially 6.6%. The current ownership has remodeled two of the cottages. The front home features high barrel ceilings, remodeled kitchen, in unit washer and dryer, tankless water heater, new tile flooring, new counter tops, fresh paint and beautifully preserved hardwood flooring. R3 zoned, potential to build 14 units using TOC density bonus. A new 17 unit building is being built next door and it's 4 months from completion. Miracle Mile is a great rental market, attracting a huge supply of A+ tenants looking for quality units in a premium location. Convenient access to transit, employment, retail and entertainment venues. Minutes to downtown LA, Beverly Hills, Santa monica and Culver City.
Phone: (818) 915-9118