$1,350,000
$1,495,000
9.7%For more information regarding the value of a property, please contact us for a free consultation.
3018 9th Ave Los Angeles, CA 90018
8 Beds
8 Baths
4,524 SqFt
Key Details
Sold Price $1,350,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,524 sqft
Price per Sqft $298
MLS Listing ID 23-330143
Sold Date 06/03/24
Style Low Rise
Bedrooms 8
Year Built 1947
Lot Size 10,789 Sqft
Acres 0.2473
Property Description
LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning LARD3
Rooms
Other Rooms Stall(s), Accessory Bldgs
Interior
Heating Wall
Cooling Wall/Window
Equipment Built-Ins, Stackable W/D Hookup, Refrigerator, Range/Oven
Exterior
Garage Carport Detached
Garage Spaces 8.0
View Y/N Yes
View Courtyard
Building
Story 1
Architectural Style Low Rise
Level or Stories One
Others
Special Listing Condition Standard
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