961 W 47th ST Los Angeles, CA 90037

Located on West 47th Street in Los Angeles, California, this fully vacant quadraplex offers a true COVID-19 hedge with 'ready-to-issue' plans for a legal ADU. The asset offers an amazing unit mix with (4) - 2 Bed / 1 Bath and RTI plans for a (1) - 3 Bed / 2 Bath ADU. This asset offers huge cash flows for a potential Buyer with an all-in cap rate of 8.91% inclusive of a capital expenditure allowance of $130,000. By capturing Section 8 rents, a potential Buyer will have the opportunity to cash-flow over 11.75%. Currently, the asset qualifies for a 30 year fixed residential financing. With proper timing, there is potential for a potential Buyer to lock in double digit cash flows for the following 30 Years (Buyer to verify). By refinancing the asset prior to the issuance of the ADU's certificate of occupancy, a Buyer may finance their new five unit asset with residential financing (Buyer to Verify).