tomo logo

$698,000

Beds
5
sq ft
1,066

2422 W Florence Ave, Los Angeles, CA 90043

2422 W Florence Ave

Los Angeles, CA 90043

  • 124 days on market
    • Price drop $1,000↓
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.

Details

Property type

Lot size

5,744 sq ft

Price per sq ft

$655

Year built

1955

HOA

No

Price History

12/05/2024
CLAW

CLAW #24430687

Price change
$698,000
-0.14%
10/10/2024
CLAW

CLAW #24430687

Price change
$699,000
-12.52%
08/21/2024
CLAW

CLAW #24430687

Listed
$799,000

Schools & Community

Neighborhood: 

Hyde Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Status: Active

Tomo last checked: 12/25/2024 at 6:25 AM

Listing updated: 12/04/2024 at 6:05 PM

Listed by: Stephanie Younger, Compass Phone #: (310) 499-2020

MLS: CLAW #24430687

CLAW logo

Recently listed in Los Angeles