49th QUADRAPLEX WITH HUGE UNITS & "RTI" ADU
601 West 49th Street
Los Angeles, CA 90037
Located at 601 West 49th Street in Los Angeles, California, this four-unit apartment complex offers a “ready-to-issue” garage conversion accessory dwelling unit for a legal market-rate fifth unit. Currently, three of the four units are vacant offering huge upside to a new buyer. Inclusive of the fifth unit ADU, the building offers a total square footage of ±5,546 on a ±6,794 square foot lot.
POTENTIAL FOR ADDITIONAL BEDROOMS IN EXISTING UNITS
Each of the existing four units are large with a possibility to create additional bedrooms for higher potential rent (buyer to verify). Furthermore, each unit offers separate water heaters and washer/dryer hook-ups allowing for an owner to provide premium finishes for a new potential renter.
Currently, the asset qualifies for a 30-year fixed residential financing. With proper timing, there is potential for a 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).
Four units with "ready-to-issue" plans for a garage conversion accessory dwelling unit
Existing 1-bedroom units are approximately ±1,150 SF allowing possibilities for a buyer to increase bedroom counts to two or three bedroom units (buyer to verify)
Great per per SF inclusive of the accessory dwelling unit of $189.33
Each unit maintains a separate water heater and washer/dryer hook-ups
Located in vastly improving marketplace with the asset's location near 110 Freeway, University of Southern California, and Downtown Los Angeles
The upper level units maintain private balconies
Kitchens offer private dining nooks with built in seating.
Potential for thirty-year residential financing with five units (buyer to verify).