George Yessaie, CCIM

5 Unit Building in is now !

If you are looking to invest in buildings or have any questions, call me today at 818.844.2505 and let's talk!

10 Unit Building in is now !

If you are looking to invest in buildings or have any questions, call me today at 818.844.2505 and let's talk!

This 14 Unit Building in is now !

If you are looking to invest in buildings or have any questions? Give me a call at 818.844.2505 and let's talk!

9 Unit Building in is now !

If you are looking to invest in buildings or have any questions, give me a call at 818.844.2505 and let's talk!

14 Unit Building in is now !

If you are looking to invest in buildings or have any questions, give me a call at 818.844.2505 and let's talk!

8 Unit Building in is now !

If you are looking to invest in buildings or have any questions? Give me a call at 818.844.2505 and let's talk!

29 Unit Building in is now !

Are you looking to invest in buildings or have any questions? Give me a call at 818.844.2505 and let's talk!

Far North Glendale: Investment notes: why invest in apartment buildings when cap rates are higher than interest rates ?

A great question which can only be answered by how an actual has performed in the recent past.

The astute investors of this asset purchased the property in 2010 when commercial lenders treated apartment buildings as toxic assets. They were able to negotiate a 90% seller financing as that also benefited the seller, i.e. installment sale.

The asset was in terrible shape with numerous tenancy issues, warranty of habitability issues, various notices from health department. So, they addressed all of the issues and raised the rents from $8,000/month with poor quality of income to $16,000/month excellent quality of income.

They refinanced the mortgage and pulled all of the equity invested in the building and paid off the seller. They get about $2500/month positive cash flow.

At successful sale of the building, they will have about $2,000,000 equity which they will invest in Single Tenant NNN, i.e. CVS pharmacy, dollar general, in a 1031 tax deferred exchange fetching them 6% return, or $120,000/year!! They will leave the asset to their kids after passing who will inherit the property at market value at the time of death, i.e. step up in basis.

If your "long-term" investments is not giving you similar results you should have a conversation with George Yessaie, CCIM, as he "talks the talk and walks the walk".

This 9 unit Gem is located in the heart of a stone throw away from the Trader Joe’s on Honolulu, and walking distance to blue ribbon public schools, the Glendale Library and Montrose shopping park.

This asset is an 8,138 sqft multifamily that was built in 1967 with a lot size of 13,216 sqft.

This building is located in the incorporated area of LA County and is operating above 4% cap rate based on current rents. There is about 20% rental upside, provided all of the units are re-positioned with more modern amenities.

For more info, message me!

https://la.curbed.com/2019/2/15/18223644/glendale-rent-control-rules-relocation-fees

Glendale now requiring landlords to pay relocation fees when raising rent It’s not rent control, but it’s similar.

in !

This is an amazing opportunity to own a gem in the heart of Glendale “above Glenoaks” right next to newly constructed senior center with a park in the middle.

This building was constructed in 1959 & consists of (14) 1+1 bungalow style spacious units with ample parking, i.e. either carport or surface parking, for all residents.

This asset has 12,278 SQFT of improvement over a 19,172 SQFT lot & there are 14 carport & 3 surface parking on the premises.

If you're interested or want more info, give me a call at 818.421.7181.