4660 Clara

Description

This prime investment opportunity, is a gated garden-style apartment complex which offers investors a rare combination of stable cash flow, meaningful rental upside, and future development potential. The property features secure common areas and extensive on-site parking, including two single garages, twenty-one carports, and two additional gated spaces. The asset produces strong in-place income with a 6.42% percent cap rate and a 11.7 times GRM, while an estimated (+-25%) twenty five percent rental upside provides a clear value-add pathway. Brand new electrical panels have been installed throughout the property, creating a major advantage in obtaining competitive insurance rates. The efficient layout consists of fifteen one bedroom one bath units, and no on-site manager is required (subject to buyer verification).An unused enclosed area offers additional potential for a two-story addition or future expansion, and the large rear portion of the lot may accommodate new construction for 7-14 units (also subject to buyer verification). Situated near the 710, 5, 101, 105, and 60 freeways, the property at 4660 Clara Street benefits from excellent regional connectivity. Built in 1964 and set on a 16,936 square foot lot with 10,382 square feet of improvements, this fifteen unit offering is priced at 3,370,000 dollars, reflecting 225,000 dollars per unit and 325 dollars per square foot, within CUR3* zoning.