Help analyzing duplex deal in West Adams
Duplex in West Adams area.
Asking $830000
Spanish style house on a nice street with similar houses, mixed single family and duplexes.
2 units total, 2b/1b and 1b/1b
About 1600 sq feet total
I think 2 bedroom could be rented for at lest about $2500 and 1 bedroom for around $1800-2000.
I will live in one of them though.
Also has a 2 car garage which can be converted into ADU.
Has parking plus street parking.
Both units need reno.
Considering that all units need renovations and I will live in one unit and rent the other and that at some point I will convert garage into ADU.
Does it still seem like a good deal?
Based on my calculations it seems a bit overpriced. I am looking for an appreciation and to cover most of my mortgage.
Also any tips how much such reno could cost are highly appreciated.
thank you