tomo logo

$1,598,500

Beds
Unknown
sq ft
4,894

8708 S Central Ave, Los Angeles, CA 90002

8708 S Central Ave

Los Angeles, CA 90002

  • 113 days on market
    • Price drop $500↓
Discover a standout investment in the heart of Los Angeles! This eye-catching, two-story building features 10 in-demand residential units, making it a hot property for the savvy investor. Choose from a mix of one spacious 2-bed, 1-bath unit, eight charming 1-bed, 1-bath units, and a cozy studio. Plus, with four single-car garages available for lease, there's extra income potential. What makes this property irresistible? The vibrant paint job and updated windows make it a prime location for tenants. Most units also feature refreshed interiors and individual water heaters, offering modern comfort. The exterior has seen a major upgrade, with over $200K spent on a seismic retrofit to meet Los Angeles city. Situated close to public transportation, local amenities, and just minutes from Downtown LA, this property is a fantastic opportunity for rental growth. Even better, a twin building next door shares a courtyard with this property and is also up for sale. With two separate APNs, both properties are a package deal. The address of the neighboring building is 8704 S. Central Avenue, MLS: MB24106529 This prime investment is on the market now, waiting for a smart investor to snap it up. The seller is willing to negotiate a carryback offer. Don’t miss your chance to add this standout property to your portfolio!

Details

Property type

Apartment

Lot size

5,063 sq ft

Price per sq ft

$327

Year built

1956

Price History

08/13/2024
CRMLS

CRMLS #MB24107071

Price change
$1,598,500
-0.03%
06/21/2024
CRMLS

CRMLS #MB24107071

Listed
$1,599,000
06/07/2024
CRMLS

CRMLS #MB24107071

Removed
$1,599,000

Schools & Community

Neighborhood: 

Southeast Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated, 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

East West Bank

Loan start date

January 2020

Original loan amount

$675,000

Est. remaining balance

Not provided

Interest rate

3.39%

Loan type

Commercial

Seller

Jose Rosalio Torres and Jose R Torres

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: 09/20/2024 at 9:35 PM

Listing updated: 09/12/2024 at 10:11 AM

Listed by: ROBERT SORIANO, EXCELLENCE RE REAL ESTATE Phone #: (562) 948-4553

MLS: CRMLS #MB24107071

CRMLS logo

Recently listed in Los Angeles