Just Listed! Restored FOURPLEX in Westlake - Great Investment! (GRM 13.4)

Open House!
Saturday, May 20, 2017 from 1-4PM

Great Investment Property!
220 South Hoover Street, Westlake 90004
List Price: $1,490,000
FANTASTIC GRM = 13.72​

Lovingly restored FOURPLEX built in 1917 is a charming, bright, 
and airy San Francisco-esque place to live.

​8 beds + 4 baths w- 4,700 sqft total living space

Unit #220: $1,950/m actual x 12 = $23,400/y
Unit #220-1/2: $2,300/m projected x12 = $27,600/y (may be delivered vacant)*
Unit #222: $2,300/m actual x 12 = $27,600/y
Unit #224: $2,300/m actual x 12 = $27,600/y
Garages: $200/m projected x 12 = $2,400/y**

TOTAL ACTUAL + PROJECTED GROSS INCOME = $108,600 per year.
FANTASTIC GRM = 13.72 ($1,490,000 / $108,600 = 13.72)

*Unit #2 is owner occupied and may be delivered vacant at COE. Current market rent for Unit #220-1/2 is projected to be ~$2,300/ month to $2,500/month.

**Garages are currently being used by owner and are not rented but there are four individual garages and each could be rented for a projected $50/month x 4 garages = $200/month if all garages are rented out.

This fourplex was built in 1917, and has been lovingly restored to a charming, bright, and airy San Francisco-esque place to live.

All units have recently renovated bathrooms or kitchens or both.

Each unit has ~1,175sqft living space and features:
Hardwood floors
Cove ceilings
Crown moldings
Large living room with faux fireplace
Full dining room with craftsman built-ins.
Lots of natural light
The kitchens boast 2 door stainless steel refrigerators, 
dishwashers, restored antique stoves
Washer/dryer hook-ups inside each unit
The bathrooms have subway tile, built ins, cast iron tubs
Showers have fantastic water pressure.
All units are 2-bed + 1-bath
Two units have front bonus rooms with jalousie windows

Each unit has unique features. 
Examples:
1 unit has a grand stairway with 9 foot windows
1 unit has double French doors that can open directly onto the private deck.
The deck has a BBQ, fresh basil, a gazebo, great lounging furniture, and friendly neighbors.
The deck is built over 4 garages, which have all been recently renovated and could provide additional revenue.
Solar panels were recently installed

Open house details continued below...

Join the FUN! ​FREE ADMISSION!

​​Glassell Bark is an event to bring the people and pets of NELA together! The event will feature rescue adoptions, local artists, local dance and karate performances, food trucks, lots of freebies, contests and more! 

June 10, 2017 from 12noon - 3pm

We will be offering the community
FREE PROFESSIONAL FAMILY/PET PHOTOS
FREE MICROCHIPPING
FREE Spay/Neuter Vouchers
LOW COST Vaccines

​Glassell Bark is presented by The Fitzburgh Realty/Homes Fur All Team with co-sponsors Verdugo Bar and Councilmember Gil Cedillo.

Each unit features hardwood floors, cove ceilings, crown moldings, a large living room with a faux fireplace, and a full dining room with craftsman built-ins. ​

Open house details continued below...

The kitchens boast 2 door stainless steel refrigerators, dishwashers & restored antique stoves and there are also washer/dryer hook ups. 

The bathrooms have subway tile, more built-ins, and the showers have fantastic water pressure. ​

All of the units have 2-bedrooms + 1- bath but two of the units have an additional room that can be used as a small third bedroom or an office or meditation room. ​

All four units are different and have unique features. As examples, unit 224 has a grand stairway with 9 foot windows, and unit 222 has double French doors that can open directly onto the private deck. The deck has a BBQ, fresh basil, a gazebo, great lounging furniture, and friendly neighbors. The deck is built over on the roof of the four-car garage.

The neighborhood is centrally located within minutes of Larchmont Village, Downtown, Koreatown, and Los Feliz. Walking distance to grocery shopping, bowling, restaurants, coffee shops, the original Original Tommy's burgers, Langer's Deli, McArthur Park, and The HMS Bounty. The 101 Freeway is blocks away and the 10 Freeway is within 15 minutes drive.

NOTE: There are four separate garage bays that have all been recently renovated and could provide additional revenue. 

BONUS: There are solar panels on the roof of the fourplex that will reduce the electrical bill and reduce operating costs and increase cash-flow for the lucky owner!

Learn more about this property!

Contact us today! 
Brian Fitzburgh, Broker/Owner
Cell: (818) 571-9712
team@brokerstrust.com