1001-1003 W Myrtle St

Please check the video tour on the 2nd slide.
You can reach CAP rate 8% and INCREASE your income substantially approx.$40,000 annually, BY ADDING an ADU & build an addition to FRONT house. ALL PERMITS OBTAINED. (Extra rent is based on the average rent & cap rate depends on the loan interest rate)
In 1986, BACK house SFR was build, with 2 interior units, besides the Original FRONT single family House, built in 1931, sitting on a LARGE Lot approx. 9,583 sq.ft.
In 2022 MAJOR REMODEL for both houses was done.
Currently you have 7 bedrooms, 5 car garage. You can have (extra rooms) by adding 3 more bedrooms & converting 2 rooms.
Each house is SEPARATELY metered for gas, electric and water. Building PERMIT has been issued. Seller has approved PLANS from the city to ADD living space and a bath to the FRONT HOUSE. And to convert the 3 garages in the back HOUSE to a 2-bedroom ADU
** YOU CAN END UP with FOUR spacious units on This LARGE lot * Currently we have TWO HOUSES with a PRIVATE gate for more privacy and security. * BOTH HOUSES have NEW Paint, double-pane windows, floors w/ baseboard & bathroom tiles, light fixtures. NEW tub, vanity & toilet. NEW kitchen cabinets, countertops, plumbing fixtures.
*FRONT house is one level w/ 2 bedrooms & one FULL bath, full kitchen & 2 ATTACHED car garage.
*BACK house is a 2-story house with 3 car garage, inside there are TWO SEPARATE units with SEPARATE stairs, as follows:
*Unit ONE (can be 5 bedrooms) consists of TWO stories, 2 detached garages. It DOWNSTAIRS has a LARGE open floor plan with one bedroom, one FULL bathroom, spacious living area that opens to the full kitchen, completely remodeled w/cabinets, pull-outs & self-closing w/quartz counters. Kitchen has a sliding window that opens to a big patio.
* It's UPSTAIRS has 2 bedrooms, one full bath, an OPEN area that can be an additional (one room) or office and a BIG LOFT that can be an additional (one room)
**Unit TWO, is an upstairs unit w/ 2 bedrooms, one FULL bath, SPACIOUS entrance to living area & kitchen & 1 detached car garage.
Per documents, it's 2 units (the 3rd is the interior split in the back house)
NEW tankless water heater.
** OVERSIZED LOT for additional parking (can fit 6-9 extra cars)
CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. GREAT INVESTMENT. MOTIVATED SELLERS. Over $27,000 in design & city fees paid & included in the purchase price. The permit will be TRANSFERRED to the buyer AS-IS. ** ALL Tenants are on month-to-month lease and paying Excellent rent - MARKET Value. Must see in person to see the flow and floor plan. PROPERTY VIDEO available.
Please contact Carmen directly for all details.