Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro-forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in today’s market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor' why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!
Property Details
Price:
$3,795,000
MLS #:
DW24215271
Status:
Active
Baths:
0
Address:
1201 E 59th Place
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
Oct 16, 2024
State:
CA
ZIP:
90001
Lot Size:
11,200 sqft / 0.26 acres (approx)
Year Built:
2024
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Schools
Interior
Cooling
Central Air
Heating
Central
Exterior
Community Features
Sidewalks
Garage Spaces
12.00
Lot Features
0-1 Unit/ Acre
Parking Spots
16.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address1201 E 59th Place Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90001
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1201 E 59th Place
Los Angeles, CA
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