Located at 1937 L Avenue, this is 24 unit property constructed in 1971 and consisting of 16 one bedroom, one bath units averaging 532 square feet, and 8 two bedroom, one bath units averaging 725 square feet. The property maintains nearly 100% occupancy due to the convenient location. The primary reason to purchase this property has a transferrable first trust deed of $2,112,000, at an interest only rate of 4%. The property can be purchased with a 25% down payment ($737,000) and will yield a cash-on-cash return of 8.35% before taxes.