INVESTORS 12.25% RETURN! Both units have Sec 8 tenants, actual rents are $2500 and $2275, TOTAL RENTS $4775/mo or $57,300/yr. (Tenant sec deposit is $7145). Tenants pay a small portion of the rent plus Gas and Electric; 90% rent comes from the Fed Govt. Rents in South Central LA for 4-bed units are already $3000 per month, so there is HUGE UPSIDE here in East LA. ACTUAL monthly expenses are $32 for Trash, $40 for Gardner and $134 for Water (total $2472 per year). Add Insurance $635, est. Taxes $8500 and est Repairs $1000, for TOTAL ANNUAL EXPENSES of $12,600. NET INCOME $44,700. Mort pmt with 20% down, 5.25% interest is $2982/mo or $35,784 a year, leaving $8916 POSITIVE CASH FLOW. Add $7614 in Year 1 principal reduction – TOTAL $16,530 or 12.25% RETURN on down payment. Units were built in 1949/2009, and have tiles, granite, new windows/doors/flooring, W/D conxns and gated parking. Clean and well-managed in a desirable residential area. DON'T MISS THIS OPPORTUNITY!!
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7 days ago
Listing updated with changes from the MLS
2 weeks ago
Listing first seen online
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Listing Courtesy of: Sam Sant 01224108 with Sanjiv Sant 01224108
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