Echo Park of Jefferson and Hauser??
Am looking at these two properties in LA, one is a 4-unit 50 years old just East of Culver City, somewhere east of Hauser and just north of Jefferson Blvd. this one is a bread and butter property which almost covers its own expenses and will be completely carrying itself in 5 years, second one is a 3-units 95 years old on Eagle Rock in walking distance to Colorado Blvd with one unit vacant (needs 30K to rehab). I know Eagle rock is the place to be, but also the other one also pays for itself.
Eagle rock has a long way to cover its own expenses as the other 2 tenants pay so low rents and does not seem like they will be going anywhere any time soon, so I am not sure if I invest in the Eagle Rock property and carry a large negative for at least next 10 years or go with the Bread and Butter property and stay in a not so good neighborhood.
What do you guys think, a better neighborhood or an easier investment in a not so good area?
Give me your thought.
thx