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$2,895,000
Est. payment /mo
7,918 SqFt
UPDATED:
11/26/2024 01:32 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,918 sqft
Price per Sqft $365
MLS Listing ID CL24463491
HOA Y/N No
Year Built 2024
Lot Size 6,252 Sqft
Acres 0.14
Property Description
Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surround
Location
State CA
County Los Angeles
Area Listing
Zoning LARD
Interior
Heating Other
Cooling Central Air
Flooring Laminate
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights
Building
Water Other
New Construction No
Others
Tax ID 5128004010
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Listed by Michael Fitzgerald • Power Brokers
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122