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1009 E 29th Street

Los Angeles (City), CA 90011
  • $798,000
  • STATUS: Active
  • ON SITE: 21 Days
  • ID#: SB22090438
UPDATED: 31 min ago
$798,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): Evelyn Baez Gonzalez of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Olga Wright of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

1009 E 29th St is a five unit apartment complex located in Los Angeles. Constructed in 1923 and sitting on a large 7,739 SF Lot Zoned LAR3 Tier (1) in a high density area with new development projects. Property consists of separate Bungalow- Style 1 Bedroom / 1 Bath units totaling 2,808 SF. The property line is fully fenced on all 4 sides including the gated entrance with back and front access. The property has ample space to park 1 car per unit. This investment has over 50% of upside in rental income and presents a tremendous value-add opportunity. All units are separately metered for gas and electricity. Tenants are all on month to month leases, subject to LA City rent control. 1009 E 29TH Street is ideally developed in the Historic South Central District, one of the most highly sought-after neighborhoods in the city for new investment and urban redevelopment. Property will be sold as is and with tenants in place.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T19:31:41.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/128283245
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1009 E 29th Street Los Angeles (City), CA 90011

  • Price: $798,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 31 min ago
  • ID#: SB22090438
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1923
Built
Neighborhood:
C34 - Los Angeles Southwest
County:
Los Angeles
Area:
C34 - Los Angeles Southwest
Property Description
1009 E 29th St is a five unit apartment complex located in Los Angeles. Constructed in 1923 and sitting on a large 7,739 SF Lot Zoned LAR3 Tier (1) in a high density area with new development projects. Property consists of separate Bungalow- Style 1 Bedroom / 1 Bath units totaling 2,808 SF. The property line is fully fenced on all 4 sides including the gated entrance with back and front access. The property has ample space to park 1 car per unit. This investment has over 50% of upside in rental income and presents a tremendous value-add opportunity. All units are separately metered for gas and electricity. Tenants are all on month to month leases, subject to LA City rent control. 1009 E 29TH Street is ideally developed in the Historic South Central District, one of the most highly sought-after neighborhoods in the city for new investment and urban redevelopment. Property will be sold as is and with tenants in place.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 5 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features SidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 49548 Gross Scheduled Income 49548 Insurance Expense 1404 Land Lease YN No Laundry Features None Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalContract Net Operating Income 29710 New Construction YN No New Taxes Expense 8875 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 17361 Rent Control YN Yes Senior Community YN No Sewer None Special Listing Conditions Standard Trash Expense 0 Utilities Sewer Not Available Vacancy Allowance Rate 3 Water Sewer Expense 4000 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T19:31:41.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Evelyn Baez Gonzalez of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Olga Wright of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)