Description
Welcome to a prime investment opportunity in the heart of the city! We are pleased to present 8 units located at 1116-1122 West Florence Avenue. 2 buildings, offering a cap rate of 6.2% in a thriving location. This property boasts a large lot (over a quarter of an acre), zoning advantages (TOC Tier 2), and multiple avenues for growth. The property features a well-balanced unit mix with stable tenants, as well as significant upside opportunities for rent increases. The surrounding area is undergoing redevelopment, and the location is accentuated by its close proximity to major entertainment venues such as The Forum (3.8 miles away), SoFi Stadium (4 miles away), BMO Stadium(3 miles away) and Downtown LA (5 miles away). This location not only increases tenant demand but also contributes to potential rental premiums. With a vast lot spanning 12,093 square feet, the property offers ample space for parking and additional development. The inclusion of a separate laundry room provides an additional avenue for generating monthly income. With easy access to transit, stores, shops, and the freeway it offers the convenience and connectivity that tenants seek. With its proximity to entertainment venues, development potential, upside in rent and appreciation, this property is a premium investment opportunity for savvy investors.
Location
Similar Listings
No similar listings found
Unfortunately, we don't have any similar listings at the moment. Please remove or change some of the selected filters.
The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 25th September, 2023 5:35 AM (UTC)
