Condominium buy in Leimert Park California

We are proud to present this unique turnkey income property with an exceptionally attractive cap rate of 4.42 percent. This West Adams Heights Mansion is a Historic Cultural Monument designed by the iconic Early 20th Century “Millionaire’s Architect,” Fredrick Roehrig. The Mansion sits in a gorgeous, quiet pocket comprised of Early 20th Century Mansions. It was fully and tastefully restored and remodeled into 8 suites in 2019 resulting in a functional income property with high quality finishing. All suites are fully occupied with great tenants; a private kitchen and bathroom comes with each suite. Features include brand new installation on the exterior and roof; a cost/energy efficient zone-controlled central air HVAC system, plumbing, and electrical; 2 huge water heaters with an eco-friendly circulatory pump system and timer; and Smart House systems with speakers and more. The amazingly structured basement comes with an exterior entrance and is ready to be converted into a recreation room with a built-in wine cellar. The property has 9.5 parking spaces plus 2 street parking permits and a big walkway to park an additional 10 motor bikes. This architectural dream combines a historical monument with a modern and sustainable hybrid twist that makes this property a unique work of art. Profit will be generated immediately after purchasing. Take advantage of upside potential by developing a 1,400 SF ADU in the back and increase the gross income to a potential $260,000+ per year. This rare opportunity won’t last long- You must come and see it to truly appreciate it!