2614 Griffin Avenue, Los Angeles, CA 90031
- $3,880,000
Listing courtesy of Listing Agent: ANDY DENG (andydeng@dengoinvestment.com) from Listing Office: DENGO INVESTMENT INC..
- List Price
- $3,880,000
- Status
- ACTIVE
- Days on Market
- 226
- MLS#
- WS26018859
- Subtype
- Residential Income
- Year Built
- 1970
- Lot Size
- 13,455
- Acres
- 0.31
- MLS Area Major
- Lincoln Hts (677)
Property Description
Don’t miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate. Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
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Additional Information
- Flooring
- Tile
- Appliances
- Free-Standing Range, Water Heater
- Heating
- Wall Furnace
- Air Conditioning
- Yes
- Stories
- Three Or More Levels
- Levels
- Three Or More
- Roof
- Flat
- Pool Type
- None
- Parking Features
- Carport, One Space, Uncovered
- View
- None
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.