2614 Griffin Avenue,Los Angeles, CA 90031
Los Angeles, CA 90031
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.
Details
| MLS # | WS26018859 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 272 |
| Listing Provided By | DENGO INVESTMENT INC. | ANDY DENG |
Features
| SQ Feet | 14,359 |
|---|---|
| Car Port | Yes |
| Story(s) | 3 |
| Units | 24 |
| Building(s) | 1 |
| Acreage | 0.31 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Window Features | Screens |
| Appliances | Free Standing Range, Water Heater |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Lot Features | Twenty One To Twenty Five Units Acre |
| Fencing | None |
Parking
| Parking Features | Carport, One Space, Uncovered |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Available, Water Available |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90031 |
| Area | 677 Lincoln Hts |
| Listing VS Median (in 90031) | |
Price: $3,880,000 low | high Med: $675,000 sqft: 14,359 low | high Med: 1,308 $ / sqft: $270 low | high Med: $516 On site: 272 low | high Med: 63 | |
Market Activity 90031
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90031 |
| Area | 677 Lincoln Hts |
| Listing VS Median (in 90031) | |
Price: $3,880,000 low | high Med: $675,000 sqft: 14,359 low | high Med: 1,308 $ / sqft: $270 low | high Med: $516 On site: 272 low | high Med: 63 | |