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$2,895,000

Beds
20
sq ft
7,918

212 E 29th St, Los Angeles, CA 90011

212 E 29th St

Los Angeles, CA 90011

  • 35 days on market
Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!

Details

Property type

Est. home value

$820,990

Property condition

New Construction

Lot size

6,252 sq ft

Price per sq ft

$366

Year built

2024

HOA

No

Price History

11/18/2024
CLAW

CLAW #24463491

Listed
$2,895,000
-3.34%
08/28/2024
CRMLS

CRMLS #BB24097509

Removed
$2,995,000
06/11/2024
CRMLS

CRMLS #BB24097509

Price change
$2,995,000
+1.53%

Schools & Community

Neighborhood: 

Central City

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Republic Bank

Loan start date

August 2022

Original loan amount

$442,000

Est. remaining balance

Not provided

Interest rate

3.8%

Loan type

New Conventional, 30 year

Seller

The Beloit Company Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/23/2024 at 2:40 AM

Listing updated: 12/05/2024 at 3:05 AM

Listed by: Michael Fitzgerald, Power Brokers Phone #: (424) 738-5900

MLS: CLAW #24463491

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