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Listed by Michael Millea • Lyon Stahl Investment Real Estate, Inc.
$1,949,500
Est. payment /mo
8,329 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,329 sqft
Price per Sqft $234
MLS Listing ID CRSB25057071
HOA Y/N No
Year Built 1948
Lot Size 0.472 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Don’t miss this very interesting one-of-a-kind opportunity in the 90037 area code. This 20,539 sq. ft. R3-zoned, street to alley multifamily lot has huge upside potential. Super low rents with approximately 50% upside. An astute investor can purchase the property for income now with the potential to build new units down the road. 8.15 GRM at Market Rents and close to a 9% CAP Rate at Market Rents. In the Tier-3 TOC with zoning allowing for the potential construction of a three-story, 25-unit building Prior to developing, buyers can take advantage of the desirability of owning and remodeling a much sought after property featuring bungalow units (which tenants are often willing to pay a premium rent). Residents benefit from the property’s prime location with easy access to public transportation and major freeways, commuting to Downtown Los Angeles and located within 1 mile of the U.S.C. campus. Property consists of 8 separate single-story buildings on a 20,539 sq. ft. street to alley R3 Lot. The 20,539 sq. ft. includes an approximately 5,000 sq. ft. parking area in the back (off of the alley), on which a buyer could possibly consider building ADU's. Tenants' benefit from a gated entrance front and rear There are three large 2-bedroom units (each approximately 1,000 sq. ft.) and
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry No Hookups
Building
Lot Description Level, Other
Water Public
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