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3648 Percy St, Los Angeles

  • Huge newer construction Boyle Heights single parcel 6 unit campus comprised of (3) Duplexes with spacious 3 Bed, 2 Bath Units + fully approved plans for (2) 1 Bed “Tiny Home” ADUs
  • Main units finished in 2017 with ADUs ready to construct at close
  • Permits ready to issue plans included with sale
  • Luxury newer construction finishes and features include in-unit laundry, stainless appliances with microwaves, dishwashers, and fridges, recessed overhead lighting, central AC, vaulted ceilings and balconies in upper units, vinyl plank flooring, master suites, fire sprinklers, water free landscaping, and modern open concept floor plans
  • All Utilities are separately metered leaving zero utility expenses
  • High yield, low expense property at an in-place cap rate of 5.4% and GRM of 12.41 with an additional 27% upside through rent increases and construction of ADUs to a market cap rate of 7.3% and a 9.83 GRM
  • Very well parked with 10 parking Spaces plus additional driveway parking
  • Available separate or together with very similar properties 2 blocks down located at 3429 Percy St and 3672 Percy St.

Property Details

  • Units: 6
  • Gross Rent Multiplier: 12.41
  • Cap Rate: 5.4

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Price

$2,650,000

Annual Income

$212,352

Annual NOI

$140,738

Annual Expense

$60,997

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
132$2,895$2,895$3,195$3,195
132$2,526$2,526$3,095$3,095
132$3,195$3,195$3,195$3,195
132$2,990$2,990$3,095$3,095
132$2,995$2,995$3,195$3,195
132$3,095$3,095$3,095$3,095
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
61812$17,696$18,870

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