2319 2Nd Avenue

Los Angeles, CA 90018

PRICE REDUCED

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-$150,000 (-11.11%)

$1,200,000

List Price

12

bed Beds

8

shower Baths

7,042 sqft

straighten / sqft

1921

calendar_month Built

Property Description

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.

Listing Information

List Price $1,200,000
Status Active
MLS 24378001
Type Residential Income
Year Built 1921
Lot Size 12,587
Structure Size 7,042
DOM 51
Courtesy Of Corcoran Icon Properties
Listing Agent Giuseppe Zumbo DRE#01753412

Interior Features

Total Bedroom
Bedrooms 12
Total Bathroom
Bathrooms 8
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Giuseppe Zumbo, Corcoran Icon Properties . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 30th, 2024 at 4:19 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.