6525 Holmes Ave, Los Angeles, CA 90001

Description

7% Cap. Great mixed use income property on a large 7545 sq.ft. corner lot. Ground floor unit on Holmes ave. is a mini market tenant that has beer & wine license. The market is currently paying $2916.50 per month and has appr. 2 years remaining on their 5 year lease with a 5 year option with rent increase each year. There are also two residential tenants on the 2nd floor : There is a 2 bedroom/1 bath unit paying $1591 per month & $50 per month to park an extra car. The 1 Bedroom/1 bath unit is paying $1660 per month plus $150 per month for renting 1 garage storage space. Owner pays for Water. There are two storage garages on the lot. One is being used by the 2 bedroom unit tenant and one is being used by 1 bedroom unit tenant. There is also a advertising sign on the side of the building that the owner receives a few hundred dollars per year. Appr. $6400 gross income per month. Great for long term hold and/or possibility of adding additional units on the property. Also great for a 1031 Exchange. Buyer and/or Buyers agent to check for themselves as to what can be built there. Property is currently under the County of Los Angeles.