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ZIP CODE 90037

$2,499,000
16 Beds 5 Baths ACTIVE Status
We are pleased to present this unique investment opportunity to purchase 324 W 51st St, a fully gut-rehabbed property that's about 90 days away from Certificate of Occupancy. Once completed, the property will stand as a "like new", 6-unit property that will produce positive cash flow for an investor with low risk of incurring major capital expenditures that may be prevalent in a property with dated systems. The Sellers are developers by trade and purchased the property in October 2021. When they initially purchased it, the subject property consisted of four (4) large, one-bedroom units. Since then, the Sellers have gut rehabbed all the unit's interiors and converted each of the four (4) previous 1-bedroom units into 3-bedroom units. Two of the rehabbed units have one bathroom, and an extra half bathroom has been added to the other two. They also added two (2) detached, two-bedroom / 1-bathroom ADUs measuring 641.5 SF each, bringing the total unit count to six (6). The completed property will be delivered vacant, which will help to expand the buyer pool to numerous different investor types outside of the typical owner / operator. Transitional housing groups, low-income housing groups, and other investors looking for property to house niche tenants will have the opportunity to acquire a "like new" asset in an area that is largely starved of them, despite its ongoing gentrification due in large part to its proximity to many of the city's major attractions and entertainment centers.

324 W 51st St, Los Angeles

Courtesy of , Filip Niculete - CA DRE#

$2,450,000
15 Beds 16 Baths ACTIVE Status
We are pleased to present a five (5) unit brand new construction apartment building located at 532 West Vernon Avenue in Los Angeles, California. The subject property is situated in a solid South Los Angeles Location, south of West Vernon Avenue and west of South Figueroa Street. Built in 2022, this brand new multifamily property contains an incredible unit mix of one (1) one bedroom / one and a half bathroom ADU unit, two (2) three bedroom / three bathroom units, and two (2) four bedroom / four bathroom units all spread across a total of three (3) buildings. These large townhouse style units feature spacious floor plans with the front four (4) units going up three (3) stories each, and the ADU in the rear of the property going up two (2) stories. With USC less than two (2) miles away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available less than a mile away at both Exposition Park featuring the Banc of California Stadium to the north, and Julian C. Dixon Park to the south. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Figueroa Street, which is accessible within short walking distance. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.

532 W Vernon Ave, Los Angeles

Courtesy of , Jason Tuvia - CA DRE#

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