East Los Angeles Multifamily

[Peter Sinclair]

Purchased a multiunit - 3bd/1ba & 1bd/ba

Cost: $490,000

Down payment: $200,000

Renovation Budget: $70,000

Mortgage: $2100/month - 30 yr fixed @ 4%

Expenses: $190/Month (Utilities, upkeep, and administration) 

Rental Income: $4000/month ($2400 3bd/1ba & $1600 1bd/ba)

Profit: $1600-$1710 a month depending on utility costs

To keep costs down my wife and I did as much work as we could, such as painting, installing kitchen cabinets, laminate flooring, light fixtures, etc. But hired professionals for things like plumbing ($6100), AC/Heating ($15,000), electrical ($2000) and landscaping ($5000) 

All profit each month is directly applied to the principle. The goal is to pay off the house ASAP so we can have a stable income when my wife and I retire in the next 15-20 years

Let me know your thoughts or questions by leaving a comment.

Here’s a short video I made on the renovation process:

[Peter Sinclair]

This property was in East LA, just above Caesar Chavez 

Cash flow very much depends on much you’re willing invest.. When we decide on purchasing a property is has to be vacant, under $600k and able to produce $1000 rough profit per month (Rental income - Mortgage - Expenses) 


Originally posted by @Henry J.:

@Peter Sinclair

Congrats!  Where (roughly) is this property and how did you find it?  I didn't think it's possible to find a cash flow duplex around East LA.  

Thanks!

Henry