2665 Pasadena Avenue

Description

We are pleased to present For Sale these Beautiful 9 Unit Pride of Ownership Spanish Style Villas that are located in a Great Lincoln Heights neighborhood. The property has an Attractive Single Story Layout with Spacious 2 and 3 Bedroom Units that are sitting on a Large 17,090 Square Foot Lot Zoned both LAC4 & RD3. The Layout of these 9 Units are as follows: FOUR DUPLEXES (which are comprised of EIGHT Spacious 2 Bedroom + 1 Bathroom Single Story Units) and a detached 3 Bedroom + 2 Bathroom Single-Story home. The 2 Bedroom Units are Approx. 700 Sq.Ft. & the 3 Bedroom Unit is Approx. 980 Sq.Ft. This is a True Turn Key Opportunity that yields a 4.03% Cap Rate on Current Rents and a Market Cap Rate of 6.59%. Over the tenure of ownership there have been Many Capital Improvements done to both the interior as well as the exterior of the property. This property has an Amazing Walk Score of 88 and therefore the Tenants enjoy the ease and comfort of being Walking Distance to Nearby Parks, Schools, Shops and Restaurants off Pasadena Ave and N Broadway. The Property neighbors Boyle Heights and Highland Park, and allows easy access to Downtown Los Angeles, Dodger Stadium and USC. Further from a convenient standpoint, the property is strategically near the 5, 110, 101 and 10 Freeways. Please note, Buyer to verify all information with respect to size, unit mix, unit count, zoning, etc.