Property Description

458 Vernon Ave is a 4Plex that will be delivered FULLY VACANT by Close of Escrow. All units have been cleaned up and renovated for new tenants to move in. The property is comprised of an ideal unit mix of (2) 1Bed/1Bath, (2) 2Bed/1Bath units and delivered with Fully Approved LADBS ADU plans for (2) 3Bed/2Bath RTI. The asset will operate at a 7.2% Cap Rate Day 1. After Building the ADUs, this property will operate at a 9.3% Cap rate and 7.8 GRM! (Including Estimated Construction Costs) With all four units currently renovated and tenant ready, this asset will immediately cash flow and is fit for any investor looking for stable income and the opportunity to add value through the process of ADUs. Located in a rapidly growing neighborhood of Los Angeles, 458 Vernon is steps away from USC, BMO Stadium, Los Angeles Memorial Coliseum and Downtown LA.