Distressed purchase in July 1999 for $500,000. GRM was 8.7, with GRI approximately $65,000 annually. Tremendous upside in this building given that each unit is 1,500 SF.
All units 2 BD/ 2 BA
Since purchase, buyers have started remodeled each of the four units. Investors have added central A/C and heat, laundry rooms, rehabbed original hard wood floors in each unit.
Hancock Park, Los Angeles 8 BD / 4 BA
Investors made $90,000 in annual Net Operating Income (NOI) in 2014. Valuation has increased by over 150% since purchase.