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!


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