Does this seem like a good deal?

[John P.]

I'm looking to buy my first investment property in Southern California. I found one that I really like, partly because it seems to be relatively low-maintenance for my first property, but my calculations put my ROI only at around 20%. Is that too low or do you think I should go for it?

http://www.redfin.com/CA/Los-Angeles/3170-Farnsworth-Ave-90032/home/6952924

This is a 5 bedroom newly remodeled duplex in a quiet neighborhood with laundry hookups in both units. Gas and electric utilities are split; water is not. After my realtor did some rent comparisons, he said I coud probably get the following rents:

$1000-$1200 for the 2 bdrm
$1400-$1600 for the 3 bdrm

I'd probably need to install laundry appliances in both units. There's no air conditioning either. I might consider installing that too. Do you think this is a good deal? Do you think I could charge more for rent with those add-ons?

Thanks everybody!
John