Fantastic Opportunity available in the up and coming area of North Hills, CA 5 individual condos in a 21 unit complex available as a packaged sale. Townhouse styled units consist of 2 upstairs bedrooms with a full bath, and a half bath, kitchen and living room downstairs. Being condos, these units are not subject to traditional Los Angeles rent control. (Buyer to Verify) Gross income of $118,200 per year, which results in a 5% cap rate on day 1 plus multiple sources of upside, including raising rents, vacating tenants and selling units to owner-users individually, vacate and remodel units and re-rent units at higher amounts, or taking an active approach with the building HOA and improving maintenance of common areas (buyer will be largest owner in the 21 unit complex). With tremendous upside as gentrification sprawls through the area, this investment offers several sources of upside for the seasoned investor as well as substantial current cash flow for the passive investor.
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