3783 First Avenue, Mission Hills, CA 92103

$2,290,000
1
BD
Sold Price
$2,290,000
List Price
$2,295,000
Closing Date
May 31, 2018
Days on Market
85
Status
SOLD
MLS#
180011901
Bedrooms
1
Lot Size(apprx.)
6,767
Property Type
Multifamily

Property Description

The First Avenue Townhomes property is an amazing opportunity for an investor to invest in an "A" location and via renovations stabilize a property and generate maximum returns. Located in the heart of Hillcrest, this address boasts a walk score of 93! The property consists of five 2br/1.5ba townhomes that are approx. 1,200sqft each. Not only is the property full gated, but each unit comes with a parking space and private patio. Four of the five units have washer and dryers in the unit and the fifth units has access to on site laundry facilities. In the last few years, current ownership has replaced the roof (with approx. 16 years left on the warranty), painted the exterior and replaced all of the windows. All units will have leases which convert to month-to-month leases effective June 30th 2018. Currently the rents are significantly below market. By modernizing each unit, rents can be increased to $2,800+/mo. There is also a strong short term rental play to maximize returns.

Additional Information

Annual Expense Actual
1953
Construction
Stucco
Cooling
Other
Financing
Other/Remarks
Laundry
Owned
Lot Size
6,767
Roof
Other/Remarks
Stories
2 Story
Style
Com-Res Income

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of The Browar Group

Selling Office: Marcus & Millichap.

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