0.44 Acres Lot
0.44 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26002050
HOA Y/N No
Year Built 1960
Lot Size 0.436 Acres
Property Sub-Type Apartment
Property Description
potential. Offered at just $195 per square foot and 8.99 GRM, the property provides an attractive cost basis for investors seeking both immediate
cash flow and has the potential to convert the uncovered parking into multiple ADUs. With SB1211, a buyer can build up to (8) ADUs that can increase value tremendously. (Buyer to Verify feasibility of ADUs). Using conservative construction costs, building out (8) 2-Bed/1-Bath ADUs, the property can operate at a 6.61 GRM and 10.41% Cap Rate, while still achieving upside through unit turns and renovations. Situated along South Broadway, the property benefits from proximity to major transit routes, employment centers, and new development projects reshaping the surrounding neighborhood.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs, Suburban, Sidewalks, Urban
Total Parking Spaces 20
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6031010030
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
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