2319 2nd Avenue Los Angeles, CA 90018
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site40 Days
- MLS StatusActive
- MLS ID Number24378001
- Home Size Source N/A
- Year Built1921
- Lot Size0.289 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Detached Carport
- Parking Spaces 4
- Number of Stories 22
- Acreage 0.289
- Attached Garage No
- Zoning LARD2
- Listing Conditions Probate Listing
Interior Features
- Cooling None
- Heating Floor Furnace
Community Features
- Senior Community No
- MLS Area C16 - Mid Los Angeles