All Forum Posts by: Othmane Khayatey

@Julie Coleman thanks Julie for the insights. 

According to owner and listing agent, there is no rent control on this property which is weird since the property was built before 1978 and in an area subject to rent control.  

@Chase Louderback the plan is either redevelopment or updating the units to bring them at market rent.    market rent is minimum 1.5 the current rent.

@Oleg Shalumov cap rate in the area is 3%

Hello, I would love to hear some opinions from you guys about this value add multi family deal in Beverly Hills for those who know the area.

341s elm dr.

6896 sqft, 6 units

2 3/2 rented for 2780 and 2600 a month

2 2/2 rented for 2110 and 2040

1 1/1 bot rented for +- 1500

Bed/bath

Owner asking: 3250000

Gross income: 138410

Expenses: 39419

Property tax: 18849

NOI: 80142

The building needs a few updates to bring the rent to market price.

I could be a redevelopment opportunity too.