The LA Apartment Advisors are proud to present 12000 Runnymede Street, a very unique opportunity where the front house, built in 1931, has been completely gutted and renovated in 2020. Furthermore, the seller just finished construction on an additional 3 units, built in 2020, just behind the original house, making this property completely turn-key for the buyer to enjoy.
12000 Runnymede is made up of a fully renovated, 1,945 sq.ft. 2-story 5-bed / 3-bath house and three brand new 1,424 sq.ft. 3-story 3-bed / 2-bath, side-by-side town-home style units with a private 2 car garage, in-unit washer/dryer and spacious floor plans.
For an unbeatable price of $2,150,000, an investor can realistically expect a projected 6.6% cap rate! With today's low interest rates, an investor is projected to achieve more than a 10% cash-on-cash return with a down payment of $430,000. Furthermore, since this offering is 4 units, an investor can take advantage of residential financing, fixed for up to 30 years!
Also notable is the fact that this property is in a California Opportunity Zone, which means the immediate area is expected to be gentrifying greatly in the near future.
This offering is ideal for the buyer who wants a pride of ownership, brand new construction property with very little maintenance or expenses, in a very dense rental pocket of North Hollywood.