2951 Francis Avenue, Los Angeles
Los Angeles Home For Sale
REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. SELLER HAS 2 ESTIMATE COST OF CONSTRUCTION AT $160 PER SQ FEET. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. SPRAWLING RESTRANTS NEARBY AND SUPERMARKET, FLOWER SHOP, BUS STOPS, FEW BLOCKS FROM STARBUCKS AND METRO STATION. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,751 square foot parcel, the property is comprised entirely of three-bedroom units. New ownership has the ability to add two accessory dwelling units (ADU's) TOTALLING 1,650 SF., for a two-bedroom and one-bedroom unit. ADU Permits are "RTI" Status. Current Ownership has extensively renovated all units with stainless-steel kitchen appliances, new flooring, in unit washer/dryers, AC systems in each bedroom & more. ALL ROOMS ARE LARGE SIZES. The continued gentrification of the surrounding area along with the rare opportunity to acquire a fully rehabbed, luxury apartment community with a healthy income stream makes 2951 Francis Avenue an excellent acquisition opportunity FOR THOSE WHO ARE LOOKING TO DO 1031 EXCHANGE OR A NEW PURCHASE TO MAKE YOUR $$$ GO FARTHER, CREATING GENERATIONAL WEALTH. Projected Yearly Rent for Existing Fully Remodeled 4 Units(Turn-Key) plus 2 Future ADUs Gross rent: $238,200.00
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90005
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- MLS® #:
- 24376665
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- Bedrooms:
- 15
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- Bathrooms:
- 11
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- Square Ft:
- 5,502
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- Lot Size:
- 0.16
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- Levels:
- One
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of August 11th, 2024 at 5:55am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.