Property Details

TITLE:
3 Industrial Building Work/Live Building on 2 Legal Lots
CONTROL:
Exclusive
VALUE:
$6,000,000
LOAN:
$2,500,000
EQUITY:
$3,500,000
TYPE:
Other
HAVE:
Well Located 3 Industrial Buildings on 2 legal parcel. Property was converted to to 12 Legal Work/Live Commercial Units. Income is 5.6 Cap and can go to 7.5 within 90 days of closing
ADDRESS:
2888 E Walnut Avenue, Pasadena, California
BENEFITS TO NEW OWNER:
Great Actual Cash Flow Property (5.6%) but can go to market in 90 days and achieve 7.5%. All tenants are month to month. Lots of Development Potential Plans to convert into 12 Commercial Condos to sell individually.
OTHER FILES:
GROSS SCHEDULED INCOME:
$535,000 Projected
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$535,000
EXPENSES:
$87,500
NOI:
$447,500
DEBT SERVICE:
$0
CASH FLOW:
$447,500
CAP RATE:
7.46%
BENEFITS SOUGHT:
Quick Sale
CAN ADD:
None
REMARKS:
Seller is motivated if Buyer can close quickly
COUNSELOR:
Mike Vachani
Provenio Realty & Investments
100 West Lemon Ste 203
Monrovia, California, 91016
Cell: 626-391-9100