2319 2nd Ave Los Angeles, CA 90018
Listing Courtesy of: Combined L.A. Westside (CLAW) / Corcoran Icon Properties / Giuseppe Zumbo

  2319 2nd Ave Los Angeles, CA 90018

Pending (109 Days)
$1,200,000
12
BED
8
BATH
7,042
SQFT

Description

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.

MLS #:
24-378001
Lot Size
0.29 acres
Type
Multifamily
Year Built
1921
County
Los Angeles County

Listed By

Giuseppe Zumbo, DRE #01753412 CA, Corcoran Icon Properties
Source
Combined L.A. Westside (CLAW)
Last checked Dec 24 2024 at 3:10 AM GMT+0000
Bathroom Details
Heating and Cooling
  • Floor Furnace
  • None
Basement Information
  • No
Parking
  • Parking Garage: Carport Detached
Stories
  • 2
Living Area
  • 7,042 sqft
Location
   
Calculate drive times to this property
 
Powered by INRIX® Drive Time

Powered by Walk Score®

Listing Price History

Date
Event
Price
% Change
$ (+/-)
Aug 30, 2024
Price Changed
$1,200,000
-7%
-88,000
Aug 13, 2024
Price Changed
$1,288,000
-5%
-62,000
Jul 10, 2024
Original Price
$1,350,000
-
-
Disclaimer: Copyright 2024 CLAW MLS. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 12/23/24 19:10