2614 Griffin Avenue, Los Angeles, CA 90031
- $3,880,000
List Agent ANDY DENG () 626-448-6666 DENGO INVESTMENT INC.; CoList ()
- List Price
- $3,880,000
- Status
- ACTIVE
- MLS#
- WS26018859
- Year Built
- 1970
- Lot Size
- 13,455
- Lot Location
- 21-25 Units/Acre
- Days on Market
- 181
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Three Or More Levels
Property Description
Don’t miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate. Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Additional Information
- Appliances
- Free-Standing Range, Water Heater
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Roof
- Flat
- Sewer
- Public Sewer
- Water
- Public
Mortgage Calculator
Based on information from CRISNet MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.