3 unit cash flow buy-in in Atwater Village

[Cameron Rath]

Hello!

I'm pleased to present a fantastic opportunity to buy in to 1/3 ownership of a fully rehabbed building in Atwater Village. My partners and I turned a 5 bedroom house into three upscale units. We've been running them as airbnb's and now transitioning to long term rentals. I am moving out of the country so looking for someone to buy out my portion of the company. Info below.

Comps: $1.8M

Mortgage: $550k at 3.5% interest rate

Monthly expenses: $3700

Unit configuration:

2/2 - rented for $5k a month as a STR. Currently vacant but I have a long term tenant interested at $5k a month

1/1 - rents for $3500 a month plus utilities. This is rented as an office for a reputable company

1/1 - rents for $3500 a month. My business partner has been staying there for $2500 a month but is now moving out so it'll be rented at the market rate

Total: $12k gross monthly

This is one of the most desirable neighborhoods in Los Angeles and will definitely deliver a healthy return if held for 5 years. One of my partners is a contractor so can handle all repairs. My other partner is former wall street and easy to do business with.

I'm asking $350k for my portion which is equal to my share at current market value. Photos here: https://www.goatlandiala.com/s...