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ZIP CODE 90037

16 Beds 6 Baths ACTIVE Status
We are pleased to present an exceptional investment opportunity at 324 W 51st St, a fully gut-rehabbed property in the 90037 zip code of Los Angeles. The sellers, who are experienced developers, transformed a four-unit building into a 'like-new' property, meticulously rehabilitating it down to the studs and enhancing the unit count to six with the addition of two Accessory Dwelling Units (ADUs). The original property, purchased in October 2021, consisted of four sizeable one-bedroom units. During the renovation, these units were each converted into three-bedroom units, with two of them gaining an extra half-bath. This thoughtful conversion, along with the addition of two-bedroom, one-bathroom ADUs each measuring 641.5 SF, will inevitably lead to increased rental income for future investors. All equipment and systems across the six units are brand new, designed to help the landlord minimize expenses and maximize returns. Furthermore, the property is individually metered for all utilities, including water, and it has no common area electrical meter, ensuring minimal landlord expenses. The City has provided individual trash cans for each unit, eliminating the significant cost associated with City trash services. As of this writing, leases for four of the six units have been signed. The remaining two leases are expected to be finalized, perfectly aligning with the opportunity for a new investor to take over a fully leased, cash-flowing, 'like new' asset. This property is an exceptional find in an area that typically lacks such offerings, despite its close proximity to many of the city's major attractions and entertainment centers.

324 W 51st St, Los Angeles

Courtesy of , Filip Niculete - CA DRE#

NEW PRICE now that it is Fully RTI! We are pleased to exclusively present for sale a Ready-to-Issue construction project consisting of 31 Residential Units + 1 ADU just south of the LA Memorial Coliseum and Banc of California Stadium. Situated on W. 42nd Pl. between S. Hoover and Menlo Ave., this 14,170 SF R3-1 Tier 3 double-lot has 103 feet of frontage. The property has been Ellised and currently features 2 Duplexes which will be delivered vacant, with Demolition Permits Ready-to-Issue. With a TOC Letter of Determination and a recorded Rental Covenant Agreement, get your construction crew ready! This project is FULLY RTI! The design consists of one Studio, two 1+1, two 2+1, three 3+2, seventeen 4+2, one 4+3, four 5+2, two 5+3. 75% of the project's unit mix are 4 bedrooms and 5 bedrooms, which makes this a fantastic opportunity for Co-Living! 4 units are reserved for Very Low Income tenants and one unit for Extremely Low Income tenants. The property is about a half mile south of the LA Coliseum and Banc of California Stadium, in the backyard of USC and a mile to the Exposition Light Rail Line Station, all a hop and a skip away for future residents. Easy access to 110 & 10 freeways will make an easy commute to DTLA and everywhere else in Los Angeles. The property has the new APN 5019-006-032 that was created from the merger of the two previous APNs (the listed APN no longer exists). A great option for this property is to rent to Section 8 tenants. There are few buildings with this unit mix being built that are not managed by a co-living operator, so this could be a great match for Section 8. Rents for Section 8 have increased as of 11/1/2022.

836 W 42nd Pl, Los Angeles

Courtesy of , Dario Svidler - CA DRE#

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