916 W 88th St, Los Angeles
Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income in the Vermont Vista neighborhood. This cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy. This is a great investor opportunity offered at a 12.1 GRM and 5.4 Cap Rate on current rents with an additional 20% upside. Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach. Adjacent to the 110 (Harbor) Fwy & close proximity to local Elementary & Middle schools. Approximately 3 miles from the Downtown Inglewood Entertainment District including SoFi Stadium, Intuit Dome and Hollywood Park Development. 2/10 of a mile to the Algin Sutton Recreation Center with Tennis & Basketball Courts, Baseball, Soccer Fields, Fitness Zones, Play Areas & Swimming Pools. Don’t miss out on this fantastic opportunity!
Property Details
- Units: 4
- Gross Rent Multiplier: 12.1
- Cap Rate: 5.4%
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$869,000
Annual Income
$72,924
Annual NOI
$54,018
Annual Expense
$16,718
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 1 | 1 | $905 | $905 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,559 | $1,559 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,663 | $1,663 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,950 | $1,950 | $1,950 | $1,950 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 4 | 4 | $6,077 | $7,350 |
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