4557 Colfax is a pride-of-ownership triplex made up of two gorgeous 1986 construction 2 bedroom, 2 bathroom units and a charmingly updated 1940’s 2 bedroom, 1 bathroom house with a private yard. Situated in upscale Studio City, this property is one of very few 2-4 unit properties to ever hit the market in this rare and prestigious area. These units have wonderful tenants who have all paid rent during Covid-19 at close to market rents of $2,500, $2,300 and $2,045. The property boasts an outstanding current cap rate of 4% and a pro forma cap rate of 4.56%. This property was fully renovated in 2005 and has been lovingly maintained over the years. It features an extensive list of upgrades including: a huge, enclosed front yard, large balconies/porches for all three units, washer/dryers in all units, fireplaces in both rear units, high ceilings, new metal and wood security gates, a new roof within the past 5 years, a Lorex security system and flood lights, a newly landscaped side yard, a recently replaced front fence and newly repainted exterior trim. Unit 4555 has recently rebuilt and sealed exterior stairs, as well as new stainless steel kitchen appliances, washer and dryer, kitchen faucet and hot water tank. Unit 4557 features updates including restored wood floors, a remodeled kitchen with white subway tile, and a hot water tank that has been replaced within the past 7 years. Unit 4553 boasts a new stove and water heater as of a few years ago.
Listing By The 2-4 Unit Specialists – Elizabeth Maddox
Data Last Updated 3:17am - 05/10/2021
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