January 8, 2010
Become a Landlord in North Atwater Village
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FOR SALE: A 4-unit apartment building in a formerly gang-ridden area of Atwater Village. The "garden style" building at 4031 Sequoia Street offers units with 1 bedroom, 1 bathroom, hardwood floors (under carpet), patios and fireplaces.
Let's say you buy the place with a great 5 percent mortgage rate and 20 percent down. Your monthly payments would be about $2,500. Considering ongoing maintenance and management, would you make your money back if 4 tenants paid $1,000/month each? Would you pay that to live on Sequoia?
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3 comments:
Nope. I pay $730 and live on Garden.
No one is going to pay more than 1k for a one bedroom apt. in toonerville. Bad investment.
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