One of the best options for a first-time home buyer is a duplex. The optimal duplex consists of 2 separate homes on a lot in good condition. Lucky for you, this 1923 California Bungalow in Frogtown comes equipped with all that and the rare windfall of getting both units vacant at close.
Priced at $499,500, this property has been completely redone and features wood floors, open floor plans, new systems and a detached 2BR/1BA rental unit. With rents on a 2/1 house fetching $1500/mo., your mortgage would be $1526/mo. even at with a 3.5% FHA loan burdened by PMI. In other words, you’d be paying as much as your tenant, but have title to the house. For more info or to see in person, let me know.
1914 Mellon Ave., Los Angeles, 90039
Duplex: 2BR/1BA each
1285 sq. ft., 5184 sq. ft. lot
1923 California Bungalow
Complete Redo, 2 Separate Homes on a Lot