Property Description

1165 E 24th St, is a three unit apartment complex located in South Los Angeles. Constructed in 1984 property is NOT subject to LA city rent control and will be over 5.5% Cap Rate on market rents. Property is sitting on a large 6,500 SF Lot Zoned LAR1.5 Property consists of one building with (2) 1 Bedroom / 1 Bath and (1) 2 Bedroom / 1 Bath units totaling 1,940 SF. The property line is fully fenced on all 4 sides including the gated entrance with front and back alley access. There is ample on-site parking with spaces for 2 cars per unit. This investment presents a tremendous value-add opportunity with (2) ADU’s potential. All units are separately metered for gas and electricity. Tenants are all on month to month leases; all tenants are current on rent.