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712 & 718 Rosecrans Ave, Los Angeles, CA 90059

712 & 718 Rosecrans Ave, Los Angeles, CA 90059
$1,500,000

Description

The featured properties are situated on two contiguous lots with more than 15k sq ft and 4 units each. This allows prospective buyers to qualify for both residential and commercial lending. There are currently 8 existing 3-bedroom detached homes totaling over 10k sq ft of livable space with ample parking, courtyard, and private yard and patio areas. Both lots are zoned LCR3 and can easily be combined or subdivided depending on the owner’s needs. This opportunity boasts a pro forma cap rate of over 11% and an opportunity to develop 30 units at 50k/door. A developer dream; the property is priced at $138/foot and 187k/door. Call now as this opportunity will not last long.

• Side by side 4-unit buildings
• Can qualify for both residential and commercial lending
• (2) 15k+ sq foot lots with major development potential
• (8) 3-bed,1-bath detached homes with ample parking. Each unit has a gated yard and patio area.
• Total of 30,945 sq ft of R3 zoned land. It could be developed into luxury townhomes, warehouses, or 30+ units of affordable housing.
• Pro Forma 11% Cap, $187k per unit, & only $138 per sq ft

Property Downloads

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

Detail

Updated on February 25, 2020 at 10:05 am

  • Price: $1,500,000
  • List Date: 2/13/2020
  • Property Size: 10840 Sq Ft
  • Land Area: 30945 Sq Ft
  • Year Built: 1964
  • Property Type: Multifamily
  • Property Status: Pending Sale
  • Numbers of Units: 8
  • GRM: 17.86
  • CAP RATE: 3.08%
  • Price per Unit: $187,000

Contact info

Austin Longwell
Austin Longwell
(424) 781-4651(626) 408-4420
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