The Landis Canyon apartments provides a unique opportunity to own a 4 Unit Apartment Complex with Stabilized Market Rents in Four 3BR Units. The Seller has Architectural Plans to Build 2 Additional Units. Located in the highly desirable 92104 Zip Code on a .21 Acre Flat Lot the property consists of Four Large 3BR/2Bath units with an average of 915 SF each and built in 1987. Architectural Plans are available to build 2 additional units consisting of a 2BR/2Bath & a 3BR/3Bath. The addition of these 2 units should bring in close to $7,000/month on top of the current income which is $11,400/month.
The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.