Value-add 6-unit building consisting of 5-2 bedroom, 1 bath and 1-4 bedroom, 1 bath. The owner performed renovations in some units in the last 3 years. The building is 100 percent occupied. All tenants are month-to-month. It is in a great rental area of Lynwood. The month-to-month tenancy structure offers flexibility to reposition the property and increase rents over time, enhancing cash flow. With a pro forma cap rate of 6.58%, this asset presents an excellent value-add opportunity while generating strong returns from day one. The most recent update was performed in 2022.
Great opportunity if you are in a 1031 Exchange period. The principal for this property is liquidating and will not be doing 1031 exchange.