HUGE PRICE REDUCTION-27+1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer/Dryer hookups in every unit. (2+1 units are 1+1's with a den rented effectively as 2 BDR units). The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i/o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01% . Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A+ location with upgraded interiors.

The manager has listed the unit size as 29536 square feet.