4 LARGE townhouse style units. High demand, easily rented units. All long term tenants, all month to month. Currently below market rents. Building and units in good condition (but interiors could use updating to increase rents). 3 bedroom 2 bath - "owner's unit" has fireplace, dishwasher and large balcony. All other units have 2 bedrooms 1 1/2 baths. All units have and washer, dryer hookups. Units B & C have Balconies. 3 units have detached 2 car garages; 1 unit has attached 1 car garage with direct entry to the unit. All electric building with individual meters. The location is excellent, wide street with good mix of properties including new and newer construction. The location has superior access to freeways and all services - it is also Manhattan Beach adjacent. With a little updating the rents should match the (pro-forma that is stated below). POTENTIAL gross income of $112,800 with current actual expenses and new taxes NOI would be $80,988 - this is a 4.2 CAP rate and 16.8 GRM. Offers are subject to inspection and presented as a 1031 Exchange at no cost, liability or delay to the buyer.
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