Incredible opportunity to own a beautifully renovated Spanish duplex with market rents in a fantastic Mid-Wilshire neighborhood, with 2 ready to build ADUs for a great price. The existing duplex (3BR/2BA and 2BR/2BA) has excellent curb appeal and strong market rents.
Large living room with cozy fireplace and large formal dining room. Both kitchens are updated with quartz counters, stainless steel appliances, and separate laundry rooms off the kitchen. The long driveway leads to three detached private garages and two additional parking spaces in the front as well. Both units leased at strong market rents with no Covid rent deferments allowing for maximal passive income, while building 2 additional ADUs – if the ambitious owner so desires. Both ADU units (one 2BR/1BA and another 1BR/1BA) have architectural plans and all pre-construction feasibility work done. Pro Forma GRM with both ADU units is at 12.9 with a 6.4% Cap Rate.
Perfect for owner/user or an investor looking to maximize ROI. Centrally located, this property is ideally situated close to Miracle Mile, The Grove, Beverly Center, LACMA Museum, restaurants and much more. Hurry as this deal won’t last long!