Rare opportunity to buy a building with 6 of 9 units delivered VACANT, giving a Buyer endless rental possibilities to hand pick their own tenants and generate substantial Day 1 cashflow! Diverse and top-heavy unit mix with (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath, and (2) Studio units. Of the 6 vacancies, 3 of them are remodeled and Section 8 move-in-ready, with the other 3 ready for a Buyer to renovate to their preference! Of the 3 occupied units, one (Unit #4, 1 Bed/1 Bath), has been remodeled and leased to Section 8 for $2,407/month! In addition to 4 renovated units, the building has undergone remodeled hallways & common areas, electrical repairs, and all 9A work (i.e. EQ shut off valves, carbon and smoke monoxide detectors, water heater strapping and low flush toilets) has been completed. The property is separately metered for gas & electricity, and, with no on-site laundry room, common area utilities will remain low to help sustain a great NOI. Tenants are just a close 2 miles away from the evolving Exposition Park that now features The Lucas Museum of Narrative Art to go along with BMO Stadium, LA Coliseum, California Science Center & Natural History Museum, and USC’s campus.
Property Details
Price:
$1,795,000
MLS #:
25486731
Status:
Active
Baths:
0
Address:
211 E 55th Street
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jan 21, 2025
State:
CA
ZIP:
90011
Lot Size:
4,888 sqft / 0.11 acres (approx)
Year Built:
1912
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Schools
Interior
Heating
Wall Furnace
Exterior
Parking Features
None
Parking Spots
1.00
Security Features
Gated Community
Stories Total
2
Financial
Tenant Pays
Gas, Electricity
Map
Community
- Address211 E 55th Street Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90011
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211 E 55th Street
Los Angeles, CA
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