MAST MARINA DEL REY, CA 90292

Features

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Facts

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Sale Type

Rent-to-own homes can be purchased using a Lease Option. This means the buyer rents the home for a set period of time, sets aside a portion of monthly rent payments during this time, and then has an option to purchase the home later, using the accumulated savings toward the down payment. Rent-To-Own properties offer home ownership opportunities to those who have poor credit or can't afford the down payment. It gives buyers time to rebuild their credit and accumulate purchase credits while living in the house.

Description

Great opportunity to own a rare Silicon Beach 5 unit Building on the Marina Peninsula with many possibilities. Located on a beautiful walk street, steps to the beach, close to all the popular restaurants and shops in Venice and Marina Del Rey. All New York style lofts and recently remodeled units, complete with some sq ft expansion, common area remodel, Earthquake/ soft story retrofit and new garage doors. Cap rate 4.5 and Gross income of $298,920 annually with great upside potential. 2 Multi level units some with 2 story living rooms with multipurpose loft area. Great mix of units, most with their own private garages. 2 units have large spectacular Ocean view rooftop patios. Many possibilities from short term rentals, or owner user one or a few of the units. Possibilities are endless. Multi-level units have large, bright 2 story living rooms with open kitchen w/ stainless steel appliances with granite counter tops and more. Units 2 and 3 have been completely remodeled. Landscaped garden area located on a beautiful walk street. 4 Units are Luxury exempt. Earthquake retrofit has been completed. Potential to increase rents to $348,000 with a 5.5 CAP. Two units can be delivered vacant at the close of escrow.