6 Units, 16.03 GRM, 4.25% CAP
The Satsuma Apartments is a remarkable apartment building, situated on a large 9,467 square foot lot, with 2 separate structures, consisting of 6 one bedroom one bathroom units.
Located blocks away from the NoHo Arts District, the Satsuma Apartments make it a convenient location for renters to flock to.
All units have various upgrades, with 2 parking spaces assigned for each unit, one of which includes a separate garage for each unit. Buyer can explore options of potentially converting these garages into ADU units, which will provide an additional source of income, and a stronger return on investment.
From the 6 units, 4 of those units are part of the front structure, and the other remaining 2 units are part of the back structure, sitting on top of the 6 garage spaces. No soft-story retrofit required! Property is exempt from City of LA’s soft-story requirement!
Each unit has it’s own water heater, essentially alleviating any gas bills for the owner to pay. The property is subject to Los Angeles rent control, and all rents are paid up-to-date by tenants. Annual gross income for the property is $93,287. Truly a great investment in a great location!
Total annual gross income for the property is $93,287. Low property expenses and easy management make the Satsuma Apartments a desirable investment for anyone looking to own an apartment building. Close proximity to shops and eateries, and blocks away from the hot-spots of the NoHo Arts District!
© Baboudjian Properties, Inc.