Description

5142 Riverton Ave is a rare, non-rent controlled new construction fourplex in prime Toluca Lake Adj. that is ready to close ASAP: a dream come true for 1031 exchange buyers! This sleek, easy to manage fourplex is made up of two tri-level duplexes containing a premium unit mix of two 4 bedroom, 3 bathroom units and two 3 bedroom, 3 bathroom units. The rear units will come equipped with fully enclosed, private yards, a feature that draws a major premium! Additionally, the property boasts an unheard of 10 PARKING spaces- 6 of which are in private 2-car garages (a major bonus for renters). We project an exceptional cap rate of 4.7%, which is hard to come by in this A+ location near celebrity-studded Toluca Lake. Other notable perks include: stainless steel kitchen appliances, a huge front yard, upscale modern kitchens, high quality finishes, extremely spacious floorplans, separate meters for gas, water & electric, a 1-year builder’s warranty, little to no maintenance, and extreme desirability amongst renters. A trophy property in an unbeatable location with a huge return– that is a true recipe for success! With SB-8 in effect, we expect less fourplexes will be built, making properties like this an even more rare and hot commodity. Now is the time to add one of these amazing properties to your portfolio before they’re all gone!