JUST LISTED - Great three unit investment property with mountain views!

7/7/2016

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3608 Griffin Ave.
Montecito Heights, CA 90031
List Price: $689,000

Property Details:

3 unit property
6 bedroom (2 bedrooms per unit)
3 bathroom (1 bathroom per unit)
1,848 sq.ft. living space
Lot: 7,501 sq.ft.
Year Built: 1924
Spanish style
Easy access to freeways and downtown Los Angeles
Beautiful mountain views
Renovated rear Spanish cottage
Large property
Great investment property - GRM 12.5
Excellent Rents
Unit 1: $1,550 (2 bedrooms + 1 Bathroom)
Unit 2: $1,495 (2 bedrooms + 1 Bathroom)
Unit 3: $1,700 (2 bedrooms + 1 Bathroom)

WOW! Beautiful and well maintained Spanish style property. Front building is a duplex - each side-by-side unit has 2 bedrooms + 1 bath. In the rear is a Spanish cottage with 2 bedrooms + 1 bath. Large property nestled at the base of Montecito Heights. Great views of surrounding mountains. Easy access to major freeways and Downtown Los Angeles. With today's low interest rates and a 20% down payment, your total monthly housing costs would be ~$3,477. You can collect the rent for all three units ($1,550 + $1,495 + $1,700) and a positive cash flow of $1,268/month. AND if you live in the back unit, you pay only ~$432 while your tenants pay the rest of your mortgage.