$1,200,000
- Beds
- 12
- sq ft
- 7,042
2319 2nd Ave, Los Angeles, CA 90018
2319 2nd Ave
Los Angeles, CA 90018
- 70 days on market
- Price drop $88,000↓
Price Improvement! 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.
Details
Property type
Lot size
0.289 acres
Price per sq ft
$171
Year built
1921
HOA
No
Price History
08/30/2024
CLAW #24378001
Price change
$1,200,000
-6.83%
08/13/2024
CLAW #24378001
Price change
$1,288,000
-4.59%
07/10/2024
CLAW #24378001
Listed
$1,350,000
Schools & Community
Neighborhood:
Jefferson Park
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/20/2024 at 11:40 AM
Listing updated: 08/30/2024 at 5:21 PM
Listed by: Giuseppe Zumbo, Corcoran Icon Properties Phone #: (510) 428-0900
MLS: CLAW #24378001
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