$ 1,200,000
2319 2nd AVE Los Angeles, CA 90018
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$ 1,200,000
Est. payment /mo
Pending
2319 2nd AVE Los Angeles, CA 90018
12 Beds
8 Baths
7,042 SqFt
UPDATED:
09/30/2024 05:27 PM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 7,042 sqft
Price per Sqft $170
MLS Listing ID 24378001
Bedrooms 12
HOA Y/N No
Year Built 1921
Lot Size 0.289 Acres
Acres 0.289
Property Description
An incredibly rare 4-Unit Investment Opportunity in Jefferson Park, nestled on a Massive corner lot. This two-story Fourplex built in 1921, boasts 7,042+/-sqft of livable space and offers a desirable unit-mix of (2) 3 bedrooms/2 bath & (2) 3 bedrooms/1.5 baths. The formal living and dining room completes the spacious floor plans. The expansive 12,583+/-SF Lot Zoned for RD2 is prime for potential development, multiple ADU's or redevelopment into a larger residential complex subject to local regulations. Located in a revitalized district with rising property values and a strong demand for housing options. All units are tenant occupied with a generous rental upside $69,900/annually (+/-4.6% CAP Rate, +/-17.39 GRM). Add value opportunity with potential projected rental income of $153,600+/-/annually (+/-9.83% cap rate, +/-8.14 GRM). Gas & Electric are separately metered with a common building meter, and one water meter. Off-street parking can accommodate (8) spaces in rear. All on the same parcel, step outside to a tranquil front yard with grass for play and enjoy gardening at the community garden on the attached side yard- separate water meter attached to community garden- water consumption paid by LACGC. A thriving community with close proximity to West Adams, USC, DTLA, 10 FWY, Metro Expo Line, and plenty of exciting food options, including Insta famous Phillips Bar-B-Que. Whether you're looking to expand your investment portfolio or embark on a new development project, this fourplex offers the perfect blend of passive income and long-term growth potential.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD2
Interior
Heating Floor Furnace
Cooling None
Fireplace No
Exterior
Garage Detached Carport
Parking Type Detached Carport
Attached Garage No
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5059026028
Special Listing Condition Probate Listing
Listed by Giuseppe Zumbo • Corcoran Icon Properties