$1,500,000

712 E Rosecrans Avenue #a

Los Angeles CA, 90059

Description

We are pleased to present this incredibly rare opportunity to purchase a portfolio of homes located at 712 & 718 E Rosecrans in Central Los Angeles, CA 90059. This unique value-add 8-unit portfolio provides almost any investor an opportunity to create endless value at an incredibly reasonable price of $1,500,000.Either buy, rehab, and hold for major rental upside, add on to existing structures, or develop into a multitude of options. The possibilities are endless!The featured properties are situated on two contiguous lots with more than 15k sf 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 sf 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 owners needs.This opportunity boasts a pro forma cap rate 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.

Details

MLS#SB20029512
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1964
Days On Site382

Features

SQ Feet10,840
Units8
Building(s)8
Water FrontNo
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Area Information
StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90059
AreaWATT - Watts
Listing VS Median (in 90059)
Price:
$1,500,000
low | high
Med:
$480,000
100% of Average
SqFt:
10,840
low | high
Med:
1,084
100% of Average
$ / SqFt:
$138
low | high
Med:
$443
100% of Average
On Site:
382
low | high
Med:
54
100% of Average
Sourced by Back At You
Listing Updated: February 10, 2021 5:24:47 AM PST
Austin Longwell LogoMLS Number: SB20029512
Listing Provided By:
Austin Longwell  of  Lyon Stahl Investment Real Estate Inc.
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.