Description
Welcome to a prime investment opportunity in the heart of the city! We are pleased to present 8 units located at 1116-1122 West Florence Avenue. 2 buildings, offering a cap rate of 6.2% in a thriving location. This property boasts a large lot (over a quarter of an acre), zoning advantages (TOC Tier 2), and multiple avenues for growth. The property features a well-balanced unit mix with stable tenants, as well as significant upside opportunities for rent increases. The surrounding area is undergoing redevelopment, and the location is accentuated by its close proximity to major entertainment venues such as The Forum (3.8 miles away), SoFi Stadium (4 miles away), BMO Stadium(3 miles away) and Downtown LA (5 miles away). This location not only increases tenant demand but also contributes to potential rental premiums. With a vast lot spanning 12,093 square feet, the property offers ample space for parking and additional development. The inclusion of a separate laundry room provides an additional avenue for generating monthly income. With easy access to transit, stores, shops, and the freeway it offers the convenience and connectivity that tenants seek. With its proximity to entertainment venues, development potential, upside in rent and appreciation, this property is a premium investment opportunity for savvy investors. Buyer is advised to independently verify the accuracy of all information with appropriate professionals. Broker and agents do not represent or guarantee the accuracy of the square footage, income, expenses, condition,development potential, bedroom/ bathroom count, lot size or lot lines, dimensions, permitted or non-permitted spaces, or school eligibility. There are no warranties or guarantees, buyer to rely solely on his/her own findings. ++Drive by only, please do NOT disturb tenants, offers should be made subject to interior inspection.
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16BEDS
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0.28ACRES
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0BATHS
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01/2 BATHS
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5,320SQFT
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$282$/SQFT
School Ratings & Info
Description
Welcome to a prime investment opportunity in the heart of the city! We are pleased to present 8 units located at 1116-1122 West Florence Avenue. 2 buildings, offering a cap rate of 6.2% in a thriving location. This property boasts a large lot (over a quarter of an acre), zoning advantages (TOC Tier 2), and multiple avenues for growth. The property features a well-balanced unit mix with stable tenants, as well as significant upside opportunities for rent increases. The surrounding area is undergoing redevelopment, and the location is accentuated by its close proximity to major entertainment venues such as The Forum (3.8 miles away), SoFi Stadium (4 miles away), BMO Stadium(3 miles away) and Downtown LA (5 miles away). This location not only increases tenant demand but also contributes to potential rental premiums. With a vast lot spanning 12,093 square feet, the property offers ample space for parking and additional development. The inclusion of a separate laundry room provides an additional avenue for generating monthly income. With easy access to transit, stores, shops, and the freeway it offers the convenience and connectivity that tenants seek. With its proximity to entertainment venues, development potential, upside in rent and appreciation, this property is a premium investment opportunity for savvy investors. Buyer is advised to independently verify the accuracy of all information with appropriate professionals. Broker and agents do not represent or guarantee the accuracy of the square footage, income, expenses, condition,development potential, bedroom/ bathroom count, lot size or lot lines, dimensions, permitted or non-permitted spaces, or school eligibility. There are no warranties or guarantees, buyer to rely solely on his/her own findings. ++Drive by only, please do NOT disturb tenants, offers should be made subject to interior inspection.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-10-03T00:28:54.443. 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 deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.