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408 S Avenue 20

Los Angeles (City), CA 90031
  • $1,025,000
  • STATUS: Active
  • ON SITE: 45 Days
  • ID#: WS22071288
UPDATED: 78 min ago
$1,025,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1895
County:

School Ratings & Info

Listing Agent(s): May Kunka of Compass-Pasadena (626-205-4040)


Description

2 VACANT units will be delivered at the close of escrow. -- Looking for a great building opportunity, Zoned LARD2 with the possibility to build up to 9 units. Currently, rough plans have been submitted and initiated with the city of Los Angeles to begin the paperwork process to tear down the 2 buildings buildings in the back. Front unit is a Duplex (will be delivered with tenants), the other 2 back to singles will be delivered VACANT at the close of escrow. Extensive renovations and updates have been made to the front Duplex (408 & 408 ), both bathrooms have been guttered and fully updated in 2020, along with all a full gut and remodel made in 2021 to unit 408 . Back 2 units, (410 & 410 ) have also had major work and renovations made to the interior of the unit. One great option is to keep units in as-is condition to establish Fair Market Rents or take advantage of the upside potential to build bread and butter units. A spectacular location in a highly demanded area, just minutes away from Chinatown, Dodger Stadium, and Downtown Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T07:31:44.907. 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/127542407
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408 S Avenue 20 Los Angeles (City), CA 90031

  • Price: $1,025,000
  • Status: Active
  • On Site: 45 Days
  • Updated: 78 min ago
  • ID#: WS22071288
0
Beds
0
Baths
0
½ Baths
0.21
Acres
1895
Built
Neighborhood:
677 - Lincoln Hts
County:
Los Angeles
Area:
677 - Lincoln Hts
Property Description
2 VACANT units will be delivered at the close of escrow. -- Looking for a great building opportunity, Zoned LARD2 with the possibility to build up to 9 units. Currently, rough plans have been submitted and initiated with the city of Los Angeles to begin the paperwork process to tear down the 2 buildings buildings in the back. Front unit is a Duplex (will be delivered with tenants), the other 2 back to singles will be delivered VACANT at the close of escrow. Extensive renovations and updates have been made to the front Duplex (408 & 408 ), both bathrooms have been guttered and fully updated in 2020, along with all a full gut and remodel made in 2021 to unit 408 . Back 2 units, (410 & 410 ) have also had major work and renovations made to the interior of the unit. One great option is to keep units in as-is condition to establish Fair Market Rents or take advantage of the upside potential to build bread and butter units. A spectacular location in a highly demanded area, just minutes away from Chinatown, Dodger Stadium, and Downtown Los Angeles.
Exterior Features

Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 4 Parking Total 1 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features Street LightsSidewalks Contingency Seller Will Be Doing A 1031 Exchange Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 25132.8 Gross Scheduled Income 2394 Insurance Expense 1400 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New LoanSubmit Net Operating Income 2094.4 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 3 Operating Expense 300 Other Expense 840 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Electricity Trash Expense 0 Water Sewer Expense 1800 Water Source Public Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T07:31:44.907. 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): May Kunka of Compass-Pasadena (626-205-4040)