7061 Greeley Street, Tujunga, CA 91042

Property Description

SIGNIFICANT PRICE REDUCTION — SOLD AS-IS!!! Six-unit apartment building offering 12 bedrooms, with each unit featuring 2 bedrooms and 1 bathroom. Five units are currently occupied, generating approximately $8,160 per month in residential rental income, plus approximately $120 per month in laundry income. One unit is currently vacant and is projected to rent for approximately $2,000 per month when ready for occupancy. When fully occupied, projected gross income is approximately $10,280 per month, or $123,360 annually, including laundry income. Based on reported operating expenses, including approximately $840 annually for LAHD-related expenses, projected net operating income is approximately $82,039 annually before a vacancy allowance and before debt service, income taxes, depreciation, capital expenditures, and any other unreported expenses. Applying a 5.5% vacancy allowance results in a projected annual net operating income of approximately $75,333. Property is being sold AS-IS. Buyer and Buyer's Agent are advised to independently investigate and verify all information concerning the property, including but not limited to rents, expenses, projected income, square footage, lot size, building information, permits, zoning, boundaries, rental regulations, and other applicable property information. Information provided is believed to be reliable but is not guaranteed. Seller and Listing Broker make no representations or warranties regarding the accuracy or completeness of the information, and Buyer is advised to conduct their own due diligence and rely on their own investigations.