2319 2nd AVE Pending

Los Angeles,CA 90018

$ 1200000

12 Beds

8 Baths

7042 SqFt


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

Year Built 1921

Lot Size 0.289 Acres

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

Exterior

Garage Detached Carport

Building

Story 2

New Construction No

Others

Special Listing Condition Probate Listing

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