This is a 10% interest as a Tenant in Common with 3 other owners who own the remaining 90%. One of a kind Charming Spanish Adobe Style 6 unit 1920's apartment complex. Situated on a large corner lot in a quiet residential neighborhood with tree lined streets. All units are 1 bedroom 1 bath, and several have been remodeled, but have retained the charm and character of the 1920's with ceramic tile in the kitchens and bathrooms, and hardwood floors. There are 4 garages on the side of the property.
The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment.
When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
|
DAYS ON MARKET
|
21
|
LAST UPDATED
|
7/15/2025
|
|
YEAR BUILT
|
1928
|
COMMUNITY
|
618 - Eagle Rock
|
|
GARAGE SPACES
|
4.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Gas Oven, Gas Range |
| AREA |
618 - Eagle Rock |
| GARAGE |
Yes |
| HEAT |
Floor Furnace |
| LOT |
8172 sq ft |
| PARKING |
Garage, Garage Faces Side |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| UTILITIES |
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Neighborhood |
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Listed with Re/Max Commercial & Investment
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 8/4/25 12:08 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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