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$1,649,000
Est. payment /mo
0.43 Acres Lot
UPDATED:
12/28/2024 02:35 AM
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 24455231
HOA Y/N No
Year Built 1931
Lot Size 0.428 Acres
Property 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.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Total Parking Spaces 10
Building
Story 1
Others
Tax ID 6032021019
Special Listing Condition Standard
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Listed by George Morales • Compass