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Listed by Michael Millea • Lyon Stahl Investment Real Estate, Inc.
$1,949,500
Est. payment /mo
0.47 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25057071
Originating Board California Regional MLS
Year Built 1948
Lot Size 0.472 Acres
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
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Interior
Laundry None
Exterior
Parking Features Assigned Spaces
Garage Spaces 11.0
Pool 31, None
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Others
Tax ID 5020034036
Special Listing Condition Not Applicable
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