Description

Property Overview

Buyer may engage in conversations regarding Buyouts with Tenants in Escrow. High upside in rent. The subject property comprises of three duplexes totaling 6 units. The two side duplexes each have 1 bed/1bath units, and a structure in the back comprising of two units, each of them being 2 bed/1 baths. There is approximately 56% upside in the rent and less than $200K/door, presenting an investor with tremendous upside value over time.

The subject property is located in the Historic South-Central neighborhood of Los Angeles, close to the University of SouthernCalifornia and the Fashion District.

Property Features

  • Three duplexes totaling six units
  • Two side duplexes each have 1bed/1 bath units
  • A structure in the back comprised of two units, each of them being 2 bed/1 baths
  • There is approximately 56% upside in the rent
  • Less than $200K/door
  • Tremendous upside value overtime
  • Located in the Historic South-Central neighborhood of Los Angeles Close to the University of Southern California and the Fashion District

Area Overview: Historic South-Central

The neighborhood that’s known as “Historic South Central” encompasses about 2.5-square miles, with the 110 Freeway marking a boundary on the west, Central Avenue serving as a border on the east, Washington Boulevard on the north, and Vernon Avenue on the south. It is the site of the Bob Hope Patriotic Hall. Historic South-Central offers residents an urban suburban feel full of restaurants, coffee shops, and parks. With the city’s largest event venues nearby, South Central is famous to Los Angeles residents for its vintage architecture and quaint diners. To those who call it home, Historic South Central is a bonded community of diverse people enjoying a unique balance of suburban family life against the downtown backdrop. Century-old historic homes can be found throughout the neighborhood, with some of the more residential surroundings located further south of downtown. Between Martin Luther King Jr. Boulevard and Vernon Avenue, you’ll find some of the city’s oldest homes. Enormous studio lofts and multi-family buildings with ground floor businesses are fairly common in the area south of the Santa Monica Freeway. You don’t have to leave the neighborhood to find entertainment and dining options in Historic South Central.  Restaurants with live bands turn Friday nights into fun hotspots, and the jazz clubs feature enough talent to please even the aficionados in the crowd. More dinner and concert options can be found at the L.A. Live complex, which borders the neighborhood to the north.


6
Bedrooms

Property ID

459 E. 29th Street, Los Angeles, CA 90011

Property Type

Multifamily

Built in

1925

Status

For Sale

Price

$1,050,000.00

Additional Features

N

los angeles multifamily for sale

N

maher commercial realty

N

multifamily for sale


Agent

Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • OM@MaherCR.com
  • MaherCR.com

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