4217 Menlo AVE Los Angeles, CA 90037
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25057071
HOA Y/N No
Year Built 1948
Lot Size 0.472 Acres
Property Sub-Type Apartment
Property Description
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 1,000 sq. ft.) and eight 1-bedroom units (each approximately 659 sq. ft.). Separately metered for gas and electricity
Rents are super low. Even better for Investors is the fact that three of the 1-bedroom units will be delivered vacant (all in need of work) at the close of escrow.
Each tenant has one allocated spot in the 50' by 100' gated parking lot in the back of the property.
building presents an exciting opportunity to increase rents and add value.
Located less than one block from Manual Arts High School.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAR3
Interior
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features Assigned
Fence Security
Pool None
Community Features Curbs, Street Lights, Sidewalks
Total Parking Spaces 11
Private Pool No
Building
Lot Description Lawn, Level, Near Public Transit, Rectangular Lot, Street Level
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5020034036
Energy Description 495.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
