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1206 W Florence Ave, Los Angeles, CA 90044

$1,250,000

Description

Fantastic opportunity to purchase this cash-cow property with a strong stable tenant paying gross rent of $11,000/month + handling all utilities; landscaping & repairs/maintenance. Landlord only pays taxes & own insurance. The unit mix is: 1204 W. Florence (3 Bed 2 Bath House) $3,000/mth; 1206 W. Florence (Commercial space with 3 private rooms/offices & a large common space + 2 Bathrooms) $3,000/mth; 1206 W. Florence 1/2 (4 Bed 3 Bath House) $3,500/mth; 1210 W. Florence (Artist Garage) $1,500/mth. There’s 3,367 total rentable square feet. The property also has great redevelopment potential. Featuring a 9,593sf double lot with C2/R4 zoning allowing for 24 new units to be build by-right on this site. The property also sits in a TOC Tier 2 area for added density bonuses and would allow for as many as 38 new units to be constructed for a TOC project. Please contact us today to explore all the options with this unique property.

Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on November 19, 2019 at 11:41 pm

  • Price: $1,250,000
  • Property Size: 3,367 Sq Ft
  • Land Area: 9,593 Sq Ft
  • Year Built: 1930
  • Property Type: Development Opportunity, Multifamily
  • Property Status: Active
  • Numbers of Units: 4

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
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