1206 W Florence Avenue

    Los Angeles (City), CA 90044
    • $1,299,000
    • STATUS: Active
    • ON SITE: 5 days
    • ID#: SB19241021
    New On Site 5 Days Ago
    $1,299,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,367
      SQFT
    • $386
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    Fantastic opportunity to purchase this cash-cow property with a strong stable tenant paying gross rent of $11,000/month + handling all utilities; landscaping & repairs/maintenance. Landlord only pays taxes & own insurance. The unit mix is: 1204 W. Florence (3 Bed 2 Bath House) $3,000/mth; 1206 W. Florence (Commercial space with 3 private rooms/offices & a large common space + 2 Bathrooms) $3,000/mth; 1206 W. Florence 1/2 (4 Bed 3 Bath House) $3,500/mth; 1210 W. Florence (Artist Garage) $1,500/mth. There's 3,367 total rentable square feet. The property also has great redevelopment potential. Featuring a 9,593sf double lot with C2/R4 zoning allowing for 24 new units to be build by-right on this site. The property also sits in a TOC Tier 2 area for added density bonuses and would allow for as many as 38 new units to be constructed for a TOC project. Please contact us today to explore all the options with this unique property.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/99872926

    1206 W Florence Avenue Los Angeles (City), CA 90044

    • Price: $1,299,000
    • Status: Active
    • ID#: SB19241021
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    3,367
    SQFT
    $386
    $/SQFT
    1930
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Los Angeles
    Area:
    699 - Not Defined
    Property Description
    Fantastic opportunity to purchase this cash-cow property with a strong stable tenant paying gross rent of $11,000/month + handling all utilities; landscaping & repairs/maintenance. Landlord only pays taxes & own insurance. The unit mix is: 1204 W. Florence (3 Bed 2 Bath House) $3,000/mth; 1206 W. Florence (Commercial space with 3 private rooms/offices & a large common space + 2 Bathrooms) $3,000/mth; 1206 W. Florence 1/2 (4 Bed 3 Bath House) $3,500/mth; 1210 W. Florence (Artist Garage) $1,500/mth. There's 3,367 total rentable square feet. The property also has great redevelopment potential. Featuring a 9,593sf double lot with C2/R4 zoning allowing for 24 new units to be build by-right on this site. The property also sits in a TOC Tier 2 area for added density bonuses and would allow for as many as 38 new units to be constructed for a TOC project. Please contact us today to explore all the options with this unique property.
    Exterior Features

    Garage Spaces 0.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features Outside Levels One

    Property Features

    Additional Parcels Description 6019-010-012 Additional Parcels YN Yes Building Area Units Square Feet Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 132000.00 Gross Operating Income 132000.00 Gross Scheduled Income 132000.00 Insurance Expense 1500.00 Land Lease YN No Laundry YN Yes Net Operating Income 112000.00 New Construction YN No New Taxes Expense 17000.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 20000.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesGrounds CareJanitorial ServiceRepairs Total Actual Rent 11000.00 Total Expenses 20000.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lac2

    Listing provided courtesy of Matthew Dunfrund of Lyon Stahl Investment Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
    Allison James Estates and Homes
    31213 Temecula Parkway
    Temecula CA, 92592