8% Return on Fourplex!
I have a new listing that you should definitely check out. It’s a turn-key fourplex in the red hot Silver Lake adjacent neighborhood – 3 minutes from Sunset Junction. Rents in this area keep going up, and there were multiple applicants for the last unit, which was rented at $1950/mo. The address is 228 S. Vendome St. – here are more photos and a map.
If you put 25% down with a 4.5% interest rate, you can make 8% return on your investment at asking price. That’s incredibly hard to find in this market in quality neighborhoods like this.
Each unit is 2br-1ba with separate gas and electric meters, which means low costs. Here are some features:
hardwood floor in 2 units
new carpet in 2 units
new paint
two new front doors
new appliances
new sprinkler system
some new fixtures
new blinds
new staircase
8 parking spaces
4 in-unit laundry hook-ups
Here’s how the numbers look:
| List price | 997,000 |
| Units | 4 |
| Structure sq. ft. | 3,480 |
| Built | 1917 |
| Lot sq. ft. | 4,807 |
| % down | 25.00% |
| Downpayment | 249,250 |
| Total monthly rent | 7,250 |
| Total monthly costs | 1,678 |
| Monthly net income | 5,563 |
| Interest Rate | 4.5% |
| Monthly debt service | 3,775 |
| Monthly free cashflow | 1,789 |
| Cash-on-cash % return | 8.25% |
Please let me know if you have any questions!
david@adaptiverealty.com
310-869-6577