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10071 Carmenita Rd

  • Huge 6-unit apartment building in South Whittier on an oversized lot priced below replacement cost at only $268 per square foot
  • Perfect unit mix with all large two bedroom, one bathroom units
  • Very well parked with carport for 6 cars plus 6 additional parking spaces
  • Enormous 102% upside in rents to a cap rate of 6.5% and a GRM of 9.8X on market rents
  • Rare opportunity for a true value add in a great location

Property Details

  • Units: 6
  • Gross Rent Multiplier: 19.74
  • Cap Rate: 2.2

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Price

$1,425,000

Annual Income

$71,352

Annual NOI

$31,420

Annual Expense

$37,189

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
121$721$721$2,000$2,000
121$1,060$1,060$2,000$2,000
121$1,030$1,030$2,000$2,000
121$1,030$1,030$2,000$2,000
121$1,055$1,055$2,000$2,000
121$1,055$1,055$2,000$2,000
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
6126$5,951$12,000

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