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Listed by John Fredrickson • Sotheby's International Realty
$ 3,750,000
Est. payment | /mo
6,704 SqFt
$ 3,750,000
Est. payment | /mo
6,704 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,704 sqft
Price per Sqft $559
MLS Listing ID CRPF24148851
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1940
Lot Size 0.568 Acres
Property Description
Property Details: This investment opportunity comprises two parcels of land totaling 24,744 square feet. The current development on these parcels includes: Parcel 1: A 9-unit apartment complex featuring a mix of 6 one-bedroom and 3 two-bedroom units. Additionally, this parcel boasts three 2-car garages and on-site laundry facilities. Parcel 2: Positioned to the north, this parcel includes a single-family residence at the rear of the property with a detached garage conversion. Notably, the front portion of this parcel offers ample parking space for up to 18 vehicles and a site for development. Opportunity 1: Expansion and Conversion: The prospective investor can explore the possibility of adding additional units to the parking area. Additionally, there exists the potential to convert the current garages into income-generating units, thereby maximizing the revenue potential of the property. Opportunity 2-A new development of low income housing for Senior citizens or… Alternatively, investors may opt to embark on a new development project encompassing both parcels. This comprehensive approach allows for the creation of a fresh, integrated development plan spanning across the entire property. Importantly, rental income from the existing structures can be sustained throughout the pl
Location
State CA
County Los Angeles
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Other
Building
Lot Description Level, Other
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