2319 2nd Ave Pending Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90018
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 7,042 sqft
Price per Sqft $170
MLS Listing ID 24-378001
Bedrooms 12
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 Mid Los Angeles
Zoning LARD2
Rooms
Other Rooms None
Interior
Heating Floor Furnace
Cooling None
Equipment None
Exterior
Parking Features Carport Detached
Garage Spaces 4.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Probate Listing