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21 Spinnaker St, Marina Del Rey 90292

Unique opportunity to own a two bedroom, one and a half bathroom condo plus a separate studio only steps to the sand in Marina Del Rey! Settle into your permanent vacation and live in one unit and rent out the other to help pay the mortgage. Front unit has two bedrooms, one and half bathrooms. Open floor plan with kitchen, breakfast bar, eating area, and living room with fireplace opening onto an ocean view balcony. Private patio wrapping around both front unit and rear studio which adds an extra 500 square feet of outdoor space. Three parking spaces tucked under building for convenience of owners and guests. Special assessment for City of Los Angeles earthquake retrofit already paid and work underway. Front unit most recently rented for $3900/month, rear studio most recently rented for $2195/month. HOA pays for all utilities except electricity, one meter for both units. One of the least expensive ways you can own and live right on the beach. Two units can also easily be joined, creating a large three bedroom, two and a half bathroom unit with a master suite.

current

UNITS: 2

GROSS RENT MULTIPLIER: 19

CAP RATE: 3.2

PRICE

$1,395,000

ANNUAL INCOME

$73,140

ANNUAL NOI

$44,546

ANNUAL EXPENSE

$24,938

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
122$0$0$3,900$3,900
101$0$0$2,195$2,195
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
223 $0 $6,095
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