Mixed Used Development Opportunity Los Angeles & Vegas Multi-Family 22 Units Available


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Attn: Developers! Fantastic Opportunity to Build a Landmark Property on Beverly Blvd.

  • Price – $22M
  • 3 Parcels. 75.500 SF piece of re-development land in Los Angeles, CA.
  • Mixed-Use, Zoning – LAC2 & LAR4. Currently there is 61,500 SF of Commercial space & 14,000 SF of residential land.
  • Adjacent to downtown LA, Echo Park, Beverly blvd 90057
  • 350 ft frontage on Beverly Blvd.
  • Westlake area
  • Property takes up 2 corners on busy street
  • Walking score is 85

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22 unit Multi-Family Building right off of the Vegas Strip

  • Price – $1.6M, 25% Down Payment – $400K
  • Price/Unit – $72,727
  • Price/SF – $68.97
  • 22 Units
  • 2 Stories
  • Built in 1961
  • Lot Size- 24,393
  • Current CAP – 5.85%
  • GRM – Current 8.47
  • NOI – Current – $93,555
  • Net Cash Flow after Debt Service – Current – 5.5% / $22,181
  • Total Return – Current – 11.2% / $44,628
  • CAP Rate – Pro Forma – 7.41%
  • GRM – Pro Forma – 7.71
  • Net Operating Income  – $118,579
  • Net Cash Flow After Debt Service – Pro Forma – 11.8% / $47,204
  • Total Return – Pro Forma – 17.4% / $69,652

Property is Free & Clear

Proposed New Loan Amount – $1,200,000

Terms: 3.65%, 30 years, 5 year Fixed, 75% LTV, Due in 30 years, DCR – 1.42

  • 18 units – 2/2, 1000 SF, Current Rents – $650-$700, Monthly income – $12,150
  • 4 units – 3/2, 1300 SF, Current Rents – 900, Monthly Income – $3,600
  • Total SF = 23,200, Total Income = $15,750

Landlord pays Water & Gas, Tenants pay Phone, Electric

Common Area Features:

  • Courtyard
  • Pool
  • Outdoor Grill
  • Secure Gated Entrance

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If interested, Contact Me ASAP! I’m direct to the sellers, they are also lenders and can provide Debt on any of my property opportunities or any of yours!

Greg@fixandflippers.com | 858.386.0949

 

 

Build Lakefront homes overlooking the Great Smoky Mountains 78 lots available just outside Knoxville, Tn


Lake Cherokkee

78 lots available overlooking Lake Cherokee (Rutledge, TN)

Rare property in prestigious Shiloh Springs Community.
Breathtaking views of Lake Cherokee and the Great Smoky Mountains.
Iron Gate entrance with cobblestone waterfalls.
Private marina.
Average lots sell for over $100k buy one today for $39k

Gated community with a cascading waterfall at the front entrance Build gorgeous dream homes

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