2422 W Florence Ave, Los Angeles, CA 90043 – 24-430687

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$698,000

Est. payment - /mo

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5 BD

2 BA

1,066 SqFt

Price Dropped by $1K

2422 W Florence Ave Los Angeles, CA 90043

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Chan Wathen

[email protected] +1(702) 461-7869

UPDATED:

11/22/2024 04:28 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,066 sqft

Price per Sqft $654

MLS Listing ID 24-430687

Style Other

Bedrooms 5

Year Built 1955

Lot Size 5,744 Sqft

Acres 0.1319

Property Description

DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.

Location

State CA

County Los Angeles

Area Park Hills Heights

Zoning LAC2

Rooms

Other Rooms Shed(s)

Interior

Heating Central

Cooling None

Flooring Mixed

Fireplaces Type None

Equipment Range/Oven, Washer, Dryer

Laundry In Unit

Exterior

Parking Features Gated

Garage Spaces 10.0

Pool None

Waterfront Description None

View Y/N No

View None

Roof Type Composition, Shingle

Building

Story 1

Sewer In Street

Water Public

Architectural Style Other

Level or Stories One

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is 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. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Compass

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Chan Wathen

REALTOR ® | RE.NV Lic.# S.59111

+1(702) 461-7869

2422 W Florence Ave Los Angeles, CA 90043

Chan Wathen

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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2422 W Florence Ave