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Updated over 9 years ago,
Real Estate Investment Opportunity for seasoned Investors.
SoL.A. Investments is proud to present this portfolio of 11 Duplexes. These Duplexes are all 2008-2009 construction, which qualifies these properties as Non Rent Control opportunities. There is a nice mix of Front-toBack and Upstairs-Downstairs duplexes, as well as large units in 17 Four-Bedrooms and 5 ThreeBedroom Units all with 2-Baths, garages and private parking Due to their large configuration these properties are 100% occupied and mostly accommodate working class families. Most of the tenants are Section 8 with 7-10% Upside to Market Rents with 60-days written notice. Centrally located just East of the 110 Fwy and South of Downtown these buildings were all constructed with High Quality, Durable Interior and Exterior Finishes while using all of the same inventory of parts for stream-lined, cost-effective maintenance and repairs. Portfolio Sub-Sets available in groups of 3 or 4 properties (per grouping of Portfolio A, B or C); All yielding 9% Cash-on-Cash in the 1st Year on 6.5 CAPs with residential financing available for terrific leverage and low barrier to entry. As an added benefit for those owners that prefer a ‘hands-off’ approach, all properties are currently under the property management of the original builder and property mgmt services can be retained at only $150/door/month.
*2008 - 2009 Construction *No Rent Control *Current 6.55 CAP and Market *7.3 CAP w/60 days written notice *Retain Property Management for $150 per Mo. per Unit w/waiting list of applicants *8.75% Cash-on-Cash 1st Year on over half-a-million Gross
List Price/Sale Price $5,369,000
Down Payment % 0.25%
Down Payment $1,345,250
Mortgage Amount $4,026,750
Price/SF $187.85
Price/Lotsqft $90.27
Year Built 2008-2009
Bldg. SF 2,8582 Lot Sqft 59,475
# of Units 22
Actual GRM 10.37
Actual CAP 6.55%
Pre Tax
Cash on Cash Return 9.03%
Price/Unit $244,045
Monthly Rental Income $43,129
Gross Scheduled Income $517,548
Vacancy (3%) $15,526.44
Effective Gross Income $502,022
Property Taxes(.0132) $70,870.80
All Other Op.Expenses $79,269.72
Total Expenses $150,140.52
Net Operating Income $351,881
Debt Service (30YR,..4.0% INT) $230,692
Pre-Tax Cashflow $121,189
Year 1 Principle Reduction $70,912
Debt Coverage Ratio (Actual) 1.53
OE Ratio 29.0% Rent/SF/Year $18.11
1st Year Annual Return $192,101.56
1st Year Annualized Net 14.3%