We are proud to present 2051 S Corning St, a 6-unit property located in the Palms submarket priced at a 5.24% CAP and a 111.99 GRM! This opportunity consists of a single, two-story building built in 1960 comprising of 6,448sf situated on a 6,307sf LARD1.5 zoned lot featuring a superior unit mix of (5) three-bedroom two bath and (1) studio units. 4 of 6 units have been renovated and the Earthquake Retrofit has been completed! With alley access, this property features 5 parking spaces in the rear, providing tenants easy access to and from the building. One three-bedroom two bath unit, featuring a private yard, will be delivered VACANT and renovated. There is potential to operate the building at a 7.04% cap rate and 9.74 GRM at market rents, offering an exceptional opportunity for any type investor looking to preserve capital while continuing to drive long term returns in an exceptionally robust submarket that is continuing to improve with ongoing development. Contact the listing broker for additional details.
Property Details
Price:
$2,395,000
MLS #:
25519279
Status:
Active
Baths:
0
Address:
2051 S Corning Street
Type:
Residential Income
Neighborhood:
c09beverlywoodvicinity
City:
Los Angeles
Listed Date:
Apr 1, 2025
State:
CA
ZIP:
90034
Lot Size:
6,307 sqft / 0.14 acres (approx)
Year Built:
1960
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Schools
Interior
Exterior
Parking Features
Attached Carport
Parking Spots
5.00
Stories Total
2
Financial
Map
Community
- Address2051 S Corning Street Los Angeles CA
- AreaC09 – Beverlywood Vicinity
- CityLos Angeles
- CountyLos Angeles
- Zip Code90034
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2051 S Corning Street
Los Angeles, CA
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