$ 1,299,000
-
$1,299,000
Price -
8
Bed -
4
Bath -
3,804
SqFt
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About the Listing RSKE - RSMCKIREG
Existing 4-Unit + Approved Plans for 4 New ADUs - Rare RTI Development Opportunity pending final approval - The proposed new construction consists of four spacious 3-bedroom 2-bathroom perfectly positioned for functionality of the corner-lot layout. Close escrow and begin construction immediately upon RTI approval. The existing apartment building features four large 2-bedroom, 1-bath units approximately 950 SF each. Each unit includes interior washer/dryer hookups, separate water heaters, and individually metered gas and electrical service. Upper units feature private balconies. These units are fully occupied. Collect rent while doing construction Recent property improvements include: New roof, Exterior paint, Lead abatement completed for all units, Partial interior paint updates. The existing detached 4-car garages are ready for demolition, making way for the new ADU development. This is an ideal opportunity for developers, investors, or buyers seeking significant upside potential and long-term equity growth. This 8 unit apartment will be worth more than $2.5M with huge cash flow opportunity and equity . Current tenants are long-term occupants with below-market rents, offering immediate income while completing the development and helping offset holding costs during construction. You don't see this too often . Situated on a 7,000 SF corner lot in a prime central Los Angeles location with quick freeway access and just minutes from Downtown LA. Excellent opportunity to reposition and maximize value in a rapidly growing area. PLEASE DO NOT DISTURB TENANTS.
Listing Highlights
Status
Active
Days on Site
26
Property Type
Multi-Family
MLS ®
RS26124580
Year Built
1914
Total Square Footage
3,804
Lot/Acreage
0.16
County
Los Angeles
Area
699 - Not Defined
Interior Details
- Bedrooms: 8
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,Yard,No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: LARD2
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned,Door-Single,Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5060028001
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
2103 3rd Ave Los Angeles, CA 90018
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