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ADD VALUE OPPORTUNITY 10408 Fairgrove Ave

6 Unit Apartment Building $1,995,950 ($332,658/Unit) 6.04% Cap Rate Tujunga, CA 91042

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Executive Summary

Amazing 6 unit income property in a nice street of Tujunga built on almost 26,000 sq ft of land. Potential great add value opportunity not to be missed. The 2 story detached property consists of 2 X 1 Bed 1 Bath unit on the second floor and a 2 X 2 car garage and a studio unit on the first floor. The second structure has a 1 Bedroom 1 Bathroom, the third structure has another 1 Bedroom 1 Bathroom and the front house has a 2 Bedroom 2. Bathroom with a nice attached one car garage with direct access that can be used as an office, bedroom or a nice workspace for artists or content creators. There is a detached garage at the end of the property that might be converted to another unit for more rental income. Almost all units have washer dryer hookups for convenience. Property has storage area on the property that can be leased for more income. Long, wide solar lighted driveway with plenty of parking at the end. Plenty of carports for additional cars and even an RV or a boat. Property has a huge space at the front and the back with more room to add more possible rental units, house, ADU or a storage as a source of additional income. For questions and offers email GlendaleBroker@gmail.com

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$121,800	$27.30
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$121,800	$27.30
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$1,800	$0.40
Net Operating Income	$120,000	$26.89

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$121,800
Annual Per SF	$27.30

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$121,800
Annual Per SF	$27.30

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$1,800
Annual Per SF	$0.40

Net Operating Income
Annual	$120,000
Annual Per SF	$26.89

Property Facts

Price	$1,995,950	Apartment Style	Garden
Price Per Unit	$332,658	Building Class	C
Sale Type	Investment	Lot Size	0.58 AC
Cap Rate	6.04%	Building Size	4,462 SF
Sale Conditions	Build to Suit	Average Occupancy	100%
Gross Rent Multiplier	16.47	No. Stories	2
No. Units	6	Year Built	1938
Property Type	Multifamily	Parking Ratio	1.34/1,000 SF
Property Subtype	Apartment

Price	$1,995,950
Price Per Unit	$332,658
Sale Type	Investment
Cap Rate	6.04%
Sale Conditions	Build to Suit
Gross Rent Multiplier	16.47
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.58 AC
Building Size	4,462 SF
Average Occupancy	100%
No. Stories	2
Year Built	1938
Parking Ratio	1.34/1,000 SF