DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There’s ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property’s practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you’re looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.
Property Details
Price:
$699,000
MLS #:
24430687
Status:
Active
Baths:
0
Address:
2422 W Florence Avenue
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Aug 21, 2024
State:
CA
ZIP:
90043
Lot Size:
5,744 sqft / 0.13 acres (approx)
Year Built:
1955
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Schools
Interior
Appliances
Range
Cooling
None
Fireplace Features
None
Heating
Central
Exterior
Parking Features
Gated
Parking Spots
10.00
Pool Features
None
Roof
Composition, Shingle
Security Features
Gated Community
Sewer
Other
Spa Features
None
Stories Total
1
View
None
Financial
Map
Community
- Address2422 W Florence Avenue Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90043
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Courtesy of Compass. 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.
2422 W Florence Avenue
Los Angeles, CA
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