1204 W Florence Avenue

    Los Angeles (City), CA 90044
    • $1,500,000
    • STATUS: Active
    • ON SITE: 106 days
    • ID#: 18329410
    UPDATED: 61 min ago
    $1,500,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,367
      SQFT
    • $446
      $/SQFT
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    This unique one-of-a-kind development opportunity includes two side-by-side LAC2 zoned parcels with 4 buildings on site. Currently utilized as short-term group rentals, this property has tremendous development potential. At close to 10,000 sf of C2 zoning, you can develop apartments or use for commercial development. This site is also ideal for transitional housing or group living homes. The owner will carry $300,000 back as Seller Financing for the right Buyer. Use the Seller Financing and qualify for SBA with only 10% down. This property is a cash earner and will not last! Lease for transitional housing and earn strong income while you pursue development entitlements.Site includes two separate lots with individual APN's- 6019-010-011 and 012.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-19T14:29:26.527. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/82253963

    1204 W Florence Avenue Los Angeles (City), CA 90044

    • Price: $1,500,000
    • Status: Active
    • Updated: 61 min ago
    • ID#: 18329410
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    3,367
    SQFT
    $446
    $/SQFT
    1922
    Built
    Neighborhood:
    C36 - Metropolitan Southwest
    County:
    Los Angeles
    Area:
    C36 - Metropolitan Southwest
    Property Description
    This unique one-of-a-kind development opportunity includes two side-by-side LAC2 zoned parcels with 4 buildings on site. Currently utilized as short-term group rentals, this property has tremendous development potential. At close to 10,000 sf of C2 zoning, you can develop apartments or use for commercial development. This site is also ideal for transitional housing or group living homes. The owner will carry $300,000 back as Seller Financing for the right Buyer. Use the Seller Financing and qualify for SBA with only 10% down. This property is a cash earner and will not last! Lease for transitional housing and earn strong income while you pursue development entitlements.Site includes two separate lots with individual APN's- 6019-010-011 and 012.
    Exterior Features

    Lot Size Source Estimated Lot Size Units Square Feet Parking Features Garage Door OpenerGarage - Single DoorDrivewayOversizedCovered ParkingAuto Driveway GateOn SiteCarport Detached Parking YN Yes

    Interior Features

    Appliances Garbage DisposalDishwasher Appliances YN Yes Laundry Features Dryer IncludedGas Dryer HookupWasher Included

    Property Features

    Cap Rate 9.00 Gross Multiplier 9.50 Gross Operating Income 156000.00 Improvements Amount 41820 Land Value 198900 Laundry YN Yes Net Operating Income 132600.00 Special Listing Conditions Standard Total Expenses 23400.00 Zoning Lac2

    Listing provided courtesy of Curtis Fralin of Fralin Commercial, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-19T14:29:26.527. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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