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$2,980,000

Beds
Unknown
sq ft
3,580

2909 N Coolidge Ave, Los Angeles, CA 90039

2909 N Coolidge Ave

Los Angeles, CA 90039

  • 39 days on market
Introducing The Coolidge Compound, an exquisite and newly constructed Spanish Modern masterpiece nestled in the vibrant neighborhood of Frogtown. Brand new and yet to be lived in as a whole, this exceptional property boasts a rare and unique offering of four vacant units, each meticulously designed to cater to the discerning tastes of the market.This brand new property has been intelligently designed to accommodate a mix of owners, making it the ideal low-maintenance investment property for those seeking hassle-free recurring income. Owners have the option to live rent-free in one unit while the rental income from the remaining units covers the mortgage, providing a steady cash flow, equity growth, and valuable tax benefits. Keeping this in mind, the property boasts fully paid for solar panels adding even more value and desirability to the property. The fact that all four units are fully vacant is a rare find in Los Angeles, allowing for immediate market rate rents at close to $200,000 annually.What sets this compound apart is its ability to command top market rents in one of the most sought-after rental markets in the country, all while maintaining a standard of quality, design, and craftsmanship that is unparalleled. Equipped with a deep understanding of the needs of residents in this area specifically, each unit is tailored to be the epitome of desirability and offers many added features including Solar panels to limit the resident's utility bill thereby making this property all the more desirable and cost effective.Each unit within the Coolidge Compound features two spacious bedrooms and two well-appointed bathrooms, catering to a variety of tenant configurations. The design of the units ensures that each resident enjoys a private and independent living experience, with the added luxury of huge outdoor spaces in the form of rooftop decks for relaxation, privacy and entertainment.Extensive data analysis confirms that this property addresses a crucial gap in the real estate market, offering high-quality housing in an area where demand far exceeds supply. A truly win-win situation in that this compound offers a multitude of benefits to its owner while speaking to the taste and quality of living of its residents, there is no other property in Los Angeles that compares or offers a better return on investment.

Details

Property type

Est. home value

$1,127,029

Property condition

New Construction

Lot size

5,227 sq ft

Price per sq ft

$833

Year built

2023

Price History

05/23/2024
CRMLS

CRMLS #P1-17796

Listed
$2,980,000
05/21/2024
CRMLS

CRMLS #P1-15784

Removed
$2,980,000
01/23/2024
CRMLS

CRMLS #P1-15784

Pending
$2,980,000

Schools & Community

Neighborhood: 

Elysian Valley

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Fishing, Park, Street Lights, Sidewalks

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

Center Street Lending Corp

Loan start date

August 2023

Original loan amount

$1,834,000

Est. remaining balance

Not provided

Interest rate

6.71%

Loan type

Commercial

Seller

Uncoolidge 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: 07/01/2024 at 9:00 AM

Listing updated: 05/31/2024 at 3:53 PM

Listed by: Michael De Perio, Kirela Real Estate Co Phone #: (626) 536-3556

MLS: CRMLS #P1-17796

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