***Listing Update - Just reduced by $100,000 & 2 NEW market-rate leases in the last 60 days*** 1926 Santa Ynez is a 6-unit Spanish-style property located two blocks west of Echo Park Lake and two blocks south of Sunset Blvd. This largely-renovated turnkey property is located within walking distance of a revitalized urban oasis serving as a neighborhood hub, and a wide array of popular retailers, cafes, and restaurants along Sunset Blvd. Four of these units are extensively renovated and blend Spanish charm with luxurious amenities that appeal to high-income young professionals and families. These units feature stone countertops, stainless-steel appliances, designer tile backsplash, wood-vinyl flooring, custom cabinets, recessed lighting, mini-split A/Cs, and an in-unit stackable washer and dryer. 1926 Santa Ynez is offered at a 5.29% CAP and 12.76 GRM on current rents and offers approx. 31% rental upside. 2 of the renovated units at the subject property received market-rate leases in the last 60 days, proving the units' quality and design can achieve market rents. At projected market rents, the CAP is 7.64%, and the GRM IS 9.75. Additionally, the property features seven surface parking spaces that generate additional income; and two storage units that generate additional income, and may be converted into ADUs (buyer to verify). ***Please do not disturb occupants - tours are available with an accepted offer***
