Description:

Rare Find in PRIME Ocean Park LOCATION! Charming building with great unit mix and opportunity to add value with future upside. Walk to the beach and Hip Main Street. 3 Bedroom unit built in 1982 & is not under rent control with a large patio. Beautiful open courtyard. Nice spacious units with hardwood floors, discount lots of storage & dining rooms. Individually metered including water heaters. Ideal for an owner user and/or investor to buy now in this high demand area. Unit # Unit Mix Actual Rents 611 1 Bedroom – 1 Bath $ 2,042.00 611 ½ Single – 1 Bath $ 675.00 613 1 B611 Ocean Park Pic1ed + Den – 1 ¾ Bath $ 2,127.00 613 ½ 1 Bedroom – 1 Bath $ 2,400.00* Projected 2550 Beverly 3 Bedroom – 2 Bath $ 2,357.00 Laundry $ 30.00 Total Actual Monthly Income: $ 9,631.00 Total Actual Annual Income: $ 115,572.00 Annual Expenses: $ 21,618.00 Insurance: $7,822.05 ($2934.94 Earthquake & $409.98 $1M Required Coverage by lender) Gardener: $1,200.00 Utilities: (Water & Sewer) $5,700.91 Utilities (Electric): $ 773.07 Utilities (Gas): $ 221.60 Repairs & Maintenance: $5,900.00