2620 Idell Street is a value-add, 4-unit investment located in an Opportunity Zone within the Cypress Park neighborhood of Los Angeles. Situated on an oversized 7,080 SF lot, 2620 Idell Street is a 2,208 SF apartment building comprised of four one-bedroom/one-bathroom units with below market rents. Zoned LARD1.5 and located… Read More within a TOC Tier 3 zone, the large lot is underutilized and presents an opportunity to add additional units in the rear of the property.
This property is ideally located near the entrance to both the 110 Freeway and the 5 Freeway, giving tenants quick access to all Greater Los Angeles. The central location in Cypress Park allows tenants to easily enjoy many of the main attractions of Los Angeles such as Dodger Stadium, Downtown Los Angeles, Echo Park, the University of Southern California, and the Westside of Los Angeles.
2620 Idell Street offers an amazing opportunity for an astute investor or owner-user to implement a value-add program to capture the rental upside. Additionally, being within an Opportunity Zone and a TOC Tier 3 zone of Los Angeles, 2620 Idell Street offers an investor the ability to build additional units and take advantage of the Opportunity Zone tax advantages and TOC density bonuses. Located in one of the most up-and-coming neighborhoods of Los Angeles with incredibly low inventory available, 2620 Idell Street is positioned well to capture the long-term appreciation and transformation that is underway in the neighborhood. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Lorraine Tan 310-259-7556
Listing Snapshot
Days Online
471
Last Updated
Property Type
Quadruplex
Lot Size
0.16 Acres
Year Built
1917
MLS Number
SB24191224
Additional Details
Building
Built in 1917, 2 buildings, 2 stories, Entry level: 1, Entry location: West
Community
Curbs, Sidewalks
Expenses
Operating: $18,585
Garage
4 spaces
Income
Gross Income: $60,540, Gross ScheduledIncome: $60,540, Net Operating Income: $38,928
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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