2422 W Florence Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90043
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,066 sqft
Price per Sqft $654
MLS Listing ID 24-430687
Style Other
Bedrooms 5
Year Built 1955
Lot Size 5,744 Sqft
Acres 0.1319
Property Description
DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.
Location
State CA
County Los Angeles
Area Park Hills Heights
Zoning LAC2
Rooms
Other Rooms Shed(s)
Interior
Heating Central
Cooling None
Flooring Mixed
Fireplaces Type None
Equipment Range/Oven, Washer, Dryer
Laundry In Unit
Exterior
Parking Features Gated
Garage Spaces 10.0
Pool None
Waterfront Description None
View Y/N No
View None
Roof Type Composition, Shingle
Building
Story 1
Sewer In Street
Water Public
Architectural Style Other
Level or Stories One
Others
Special Listing Condition Standard