Excellent Rehab/Development Opportunity
Mixed-use potential with first-floor retail(COIN LAUNDRY, CONVENIENT STORE, BARBER SHOP, DONUT SHOP, SMOKE SHOP),
2nd floor currently offices, CAN BE CONVERTED INTO live/work studio apartment(40 to 46 UNITS) option.
Offers substantial vacant space for additional income (buyer to verify with city). Located in a high-demand area with a 99.9% apartment occupancy rate in El Centro and nearby hotel booking rates exceeding 120%.
AFTER REMODEL/CONVERSION MONTHLY PROJECTED INCOME WILL BE $25,000 TO $30,000 per month for residential Units for the 2nd Floor
MAKING THIS PROPERTY VALUE TO BE $4,000,000.00 to $6,000,000 +(after 1st floor renovation) at CAP 6%
REMODEL ESTIMATES CAME IN AT $900,000.
LOCAL MANAGEMENT AVAILABLE.
SECURING GOVERMENT CONTRACT TALKS WITH FEDERAL LEVEL.
CONSULTATION IN PERSON, PLEASE TEXT TO MAX LEE 213-434-2433