Description
This property is being offered for the first time in 45 years, featuring an expansive 18,630 SF lot. It represents an exceptional value-add opportunity for experienced and savvy investor(s). The four separate buildings at the property consists of all one-bedroom, one-bath units, each approximately 650+ SF (buyer to verify). Potential to achieve a CAP rate exceeding 10% over time. Located in the dynamic area of South LA, this is the best deal on a per-door basis. The property offers the possibility of income growth surpassing 90%, along with the opportunity to add Accessory Dwelling Units (ADUs). It falls under TOC-TIER1 and is subject to LARSO, while providing significant development potential for a qualified buyer/investor. Utilities are separately metered. Buyers are encouraged to perform their own due diligence regarding ADU additions and overall development options. The property is sold in "as-is, where-is" terms. Laundry room is owned by the seller, and there are over 10+ parking spaces available to tenants that are being used for storage at this time. Two units, along with all parking and storage areas will be delivered vacant at closing. The rental income per unit listed on the flyer represents the average income across all units.
Property Details
- Stories1
Measurements
- Acres0.4279
Construction Details
- Property TypePurchase
Condition
- Year Built1931
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,900,000
Other
- MLS #24455231
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: George Morales (#CLW-C125491)
Listing Office: Compass (#CLW-X81461)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
