This spacious 8-unit garden style apartment building, situated on a sprawling 19,000 sq ft lot, presents a compelling investment opportunity. The property boasts a secure, gated environment and offers a mix of recently remodeled and classic units, ensuring broad appeal to potential tenants.Key Features:Remodeled Units: 6 of the 8 units have been thoughtfully modernized with new windows, kitchens, bathrooms, separate laundry connections, flooring, and fresh paint.Strong Income: The property currently generates an annual income of $161,088, demonstrating its income-generating potential.Prime Location: Conveniently located near LAX, popular beach communities, major freeways (105 and 110), and SoFi Stadium, the property enjoys high visibility and accessibility.Ample Parking: Residents will appreciate the abundance of parking options, with 8 garage spaces and 7 outdoor spaces available.Expansion Potential: The property is currently in the process of obtaining entitlement for 1 ADU, offering the opportunity to increase rental income and property value.Why This is a Great Investment:This property combines a desirable location with strong existing income and potential for future growth. The remodeled units are likely to attract quality tenants and command higher rents, while the ADU entitlement offers a clear path to increasing the property's overall value. The large lot size also provides flexibility for future development or expansion, further enhancing its investment appeal. With its prime location, attractive features, and income potential, this 8-unit garden style apartment building is an excellent investment opportunity for those seeking both immediate returns and long-term value.
|
DAYS ON MARKET
|
89
|
LAST UPDATED
|
10/14/2024
|
|
YEAR BUILT
|
1953
|
COMMUNITY
|
Metropolitan Southwest
|
|
GARAGE SPACES
|
8.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
Ductless |
| AIR CONDITIONING |
Yes |
| AREA |
Metropolitan Southwest |
| GARAGE |
Garage, Yes |
| HEAT |
Ductless |
| LOT |
0.44 acre(s) |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| PARKING |
Garage |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| STYLE |
Bungalow |
| WATER |
Public |
| ZONING |
LCR2* |
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Listed with Prospect Group Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 1/10/25 4:14 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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