Price Reduction! (4.6% CAP Rate, 17.39 GRM) Incredibly rare 4-Unit investment/development opportunity in Jefferson Park, nestled on an expansive 12,583 SF corner Lot Zoned for RD2 is prime for potential development, multiple ADU’s or redevelopment into a larger residential complex subject to local regulations. This two-story Fourplex built in 1921, boasts 7,042 sqft of livable space and offers a desirable unit-mix of (4) 3 bedrooms/2 bath. The formal living and dining room completes the spacious floor plans. Off-street parking can accommodate (8) spaces in the rear.
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/add value opportunity with potential projected rental income of $153,600±/annually (10.24% CAP Rate, 7.81 GRM). Gas & Electric are separately metered with a common building meter, and one water meter.
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 and water consumption paid by the City of Los Angeles.
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.
Now Listed at $1,200,000
2319 2nd Avenue, Los Angeles
TheMLS 24-378001
(Seller will offer concessions)
Listed by Giuseppe Zumbo
Zumbo Real Estate Group
[email protected]For more information, call 310.776.3494 (office) 510.331.5153 (mobile)