247 Florence Avenue, Los Angeles
Los Angeles Home For Sale
247 W Florence is an 8-unit mixed-use property, offered at 9.90 GRM and 5.27% CAP on current rents, with approx. 67% rental upside. This mixed-use property with tremendous promise consists of (1) 2-bdrm. unit, (4) 1-bdrm. units, and (3) ground-floor commercial units that offer a significant value-add opportunity. 247 W Florence is offered at a 9.90 GRM and 5.27% CAP on current rents, $143,750 per unit, and $179 per foot. A savvy investor can stabilize the property at a 11.08% CAP and 5.90 GRM by achieving market rents for renovated units. This 8-unit mixed-use property resides on a 5,967 SF lot (zoned LAC2) with three gated tandem parking spots. 247 West Florence is minutes from several South LA thoroughfares, including Broadway, Main Street, Manchester Boulevard, and the 110 Freeway. In addition, the property is 3 miles west of Pacific Blvd - the commercial heart of Huntington Park. This listing can be purchased individually or as part of a 5-property South LA portfolio - please contact LA1 for more info.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90003
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- MLS® #:
- 24400031
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- Bedrooms:
- 3
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- Bathrooms:
- 2
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- Square Ft:
- 6,410
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- Lot Size:
- 0.14
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- Levels:
- Two
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 26th, 2024 at 10:50am 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.