An incredibly rare 4-Unit Investment Opportunity in Jefferson Park, nestled on a Massive corner lot. This two-story Fourplex built in 1921, boasts 7,042+/-sqft of livable space and offers a desirable unit-mix of (2) 3 bedrooms/2 bath & (2) 3 bedrooms/1.5 baths. The formal living and dining room completes the spacious floor plans. The expansive 12,583+/-SF Lot Zoned for RD2 is prime for potential development, multiple ADU’s or redevelopment into a larger residential complex subject to local regulations. Located in a revitalized district with rising property values and a strong demand for housing options. All units are tenant occupied with a generous rental upside $69,900/annually (+/-4.6% CAP Rate, +/-17.39 GRM). Add value opportunity with potential projected rental income of $153,600+/-/annually (+/-9.83% cap rate, +/-8.14 GRM). Gas & Electric are separately metered with a common building meter, and one water meter. Off-street parking can accommodate (8) spaces in rear. All on the same parcel, step outside to a tranquil front yard with grass for play and enjoy gardening at the community garden on the attached side yard- separate water meter attached to community garden- water consumption paid by LACGC. A thriving community with close proximity to West Adams, USC, DTLA, 10 FWY, Metro Expo Line, and plenty of exciting food options, including Insta famous Phillips Bar-B-Que. Whether you’re looking to expand your investment portfolio or embark on a new development project, this fourplex offers the perfect blend of passive income and long-term growth potential.
Property Details
Price:
$1,200,000
MLS #:
24378001
Status:
Pending
Baths:
0
Address:
2319 2nd Avenue
Type:
Residential Income
Neighborhood:
c16midlosangeles
City:
Los Angeles
Listed Date:
Jul 10, 2024
State:
CA
ZIP:
90018
Lot Size:
12,587 sqft / 0.29 acres (approx)
Year Built:
1921
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Schools
Interior
Cooling
None
Heating
Floor Furnace
Exterior
Parking Features
Detached Carport
Parking Spots
4.00
Stories Total
2
Financial
Tenant Pays
Electricity, Gas
Map
Community
- Address2319 2nd Avenue Los Angeles CA
- AreaC16 – Mid Los Angeles
- CityLos Angeles
- CountyLos Angeles
- Zip Code90018
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Courtesy of Corcoran Icon Properties. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2319 2nd Avenue
Los Angeles, CA
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