Property Detail

Description

JNM Realty Inc is proud to present, on an exclusive basis, a 22-unit low-rise apartment complex in the heart of East Hollywood with tremendous in-place cash flow. The asset has been professionally managed and maintained over the past 11 years and presents the opportunity for a new investor to improve the facility and its financial output through extended renovations. Community amenities include a pool, laundry room, and onsite parking. The property has been extremely well-maintained with improvements to the exterior facade and sixteen (16) of twenty-two (22) units fully renovated featuring new flooring, electrical, plumbing, and mini splits. There are (17) onsite parking spaces, non-tandem. A qualified investor could assume the favorable 3.20% interest-only rate through March 2026, amortizing through March 2027. This results in a 10.83% cash on cash return immediately upon acquisition. Through renovations and improvements, the property has the potential to reach a 7.65% stabilized cap rate and a 17.67% cash on cash return. Additional potential upside through ADUs through utilizing the onsite parking. Buyer to verify.