Highland Park Townhouse – GREAT deal for FHA
Hey there – There’s a really nice, sizable 2br 2.5ba townhouse in Highland Park that is open only to FHA-backed loans for a limited time. If you want to own your own place in Highland Park with only $7,000-$10,000 down, let me know!!! You can move out in two years and rent it for $1600+, if that’s your bag. Homeowners association dues are $200 and priced at $200K.
La Brea & Venice
4822 Pickford St.
There’s a slow gentrification creep right now moving southeast from Pico & Fairfax. A cornerstone of the “trendification” is the relatively new and lovely Paper or Plastik café and adjoining MiMoDa dance studio, whose owners I happen to know and adore. As these rent increases start to move, it makes a property like 4822 Pickford St. a viable investment option.
Just southeast of Venice and La Brea, this triplex (listing at $499K) has decent rents for the area, with a lot of upside. It’s available now. If you want to know more about these numbers, email me.
Read MoreBoyle Heights Fourplex
2038 Hollenbeck came on the market a couple months ago at 475K, and was bought last week for 455K. Part of the reason it lasted that long is because people aren’t sold on Boyle Heights yet, the way they weren’t sold on Echo Park ten years ago.
One thing I know about 2038 Hollenbeck is that it borders a beautiful park called Hollenbeck Park. Most park-bordering property in L.A. isn’t prime real estate, but this park is more like a New York or San Francisco park, with small streets bordering it, and the buildings all directly facing it.
Actual rents were $800 each, with three 1+1s, and one 2+1. It would have been perfect for an owner-occupier who could move into the underpaying 2+1. If you moved out in two years and rented it at market value, that would turn the deal from a 3.5% annual return to a 9.5% return. Things to think about.
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