$999,000

CAP RATE 5.5%. GRM 14.28. New owner can use the laundary room to increase the CAP RATE to over 6%. The only GEM in the area close to East LA and Downtown with existing cap rate over 5%, not in city terrace with low rental return! Prime development opportunity positioned on a high-visibility corridor with strong traffic counts and long-term growth potential. This property is a rare R3 land which offers an excellent opportunity for developers, builders, and value-add investors seeking to capitalize on a well-located parcel with flexible future use (buyer to verify zoning, density, and permitted uses with the city). The land itself already worth over 900K and planned for multi-familiy. Also, it starts earning rental income from day one with this fully tenant-occupied property while you are waiting for plan check or you want to keep it! Exceptional income-producing property priced below market for a quick sale. This fully tenant-occupied asset offers immediate, stable rental income of approximately $5,600/month All lease are month-to-month lease, making it an ideal opportunity for investors or owner-occupants seeking strong returns. Rent are close to the market but still have room to increase. The property also has a laundry room for extra income. Great value-add opportunity and projected rent can be over $6,700/month. Tenants will be transferred. The property has been professionally managed and well maintained over the past 5 years, with long-term tenants who have consistently paid on time for over a decade. Rents are near market value, with built-in potential for future incr