5150 Ithaca, Los Angeles, CA 90032

Description

This turnkey four-unit income property presents an outstanding investment opportunity, featuring a beautifully remodeled Unit 2 with a modern, high-end aesthetic and a newly constructed ADU with its own private entrance. The spacious unit mix offers strong tenant appeal while providing excellent long-term income potential. Ideally located near Cal State LA and with convenient access to Downtown Los Angeles and other major employment and lifestyle destinations, the property benefits from consistent rental demand. With projected rental increases, investors have the opportunity to achieve an estimated 5.1% capitalization rate, making this an attractive option for both long-term investors seeking stable cash flow and owner-occupants looking to offset ownership costs with rental income.
Current Rents (Total: $7,619.43/month)
Unit 1: 3 Bed / 2 Bath - $1,609.81
Unit 2: 2 Bed / 2 Bath - $2,250
Unit 3: 2 Bed / 2 Bath - $1,259.62
Unit 4 (ADU): 2 Bed / 2 Bath - $2,500

Current Financials:
Annual Net Income: $69,928.57
Net Operating Income (NOI): $69,928.57
Annual Operating Expense: $21,504.59
Gross Rent Multiplier (GRM): 14.76%
Capitalization Rate (Cap Rate): 5.18%