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… Read More 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. Read Less
Property listed by Corcoran Icon Properties, Giuseppe Zumbo 510-428-0900
Listing Snapshot
Days Online
189
Last Updated
Property Type
Other
Beds
12
Square Ft.
7,042
Lot Size
0.29 Acres
Year Built
1921
MLS Number
24378001
30 Days Snapshot Of 90018
$1,077k
0%
(avg) sold price
0
-100%
homes sold
98
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1921, Building area total: 7,042, Levels: Two, Living area: 7042, 2 stories, 1 building
Cooling
None
Heating
FloorFurnace
Income
Gross income: $5,825
Lot
0.289 acres, 12,587 square feet, Size: 12,587
Parking
4 totals parking, DetachedCarport
Property
Zoning: LARD2
Tenant Pays
Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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