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25 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. Front unit most recently rented for $3916/month, rear studio most recently rented for $2195/month. 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. 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. 21 Spinnaker #6 is also available, which is the next door unit. Can be sold separately or together.

current

UNITS: 2

GROSS RENT MULTIPLIER: 19

CAP RATE: 3.2

AGENT: Anthony Walker

PRICE

$1,395,000

ANNUAL INCOME

$69,665

ANNUAL NOI

$44,727

ANNUAL EXPENSE

$24,938

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
122$3,916$3,916$$0
101$2,195$2,195$$0
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
223 $6,111 $0
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