$2,895,000
212 E 29th ST Los Angeles, CA 90011
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$2,895,000
Est. payment /mo
20 Beds
21 Baths
7,918 SqFt
UPDATED:
11/18/2024 04:44 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,918 sqft
Price per Sqft $365
MLS Listing ID 24463491
Bedrooms 20
HOA Y/N No
Year Built 2024
Lot Size 6,250 Sqft
Property Description
Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer
Exterior
Garage Door-Multi, Door-Single, Garage, Gated, Tandem
Garage Spaces 7.0
Carport Spaces 2
Garage Description 7.0
View Y/N Yes
View City Lights
Total Parking Spaces 9
Building
Story 3
Entry Level Multi/Split
Sewer Other
Level or Stories Multi/Split
New Construction Yes
Others
Senior Community No
Tax ID 5128004010
Special Listing Condition Standard
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Listed by Michael Fitzgerald • Power Brokers
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