532 W Vernon Avenue

    Los Angeles (City), CA 90037
    • $1,499,000
    • STATUS: Active
    • ON SITE: 28 days
    • ID#: 19511454
    UPDATED: 194 min ago
    $1,499,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,373
      SQFT
    • $145
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2019
    County:

    School Ratings & Info

    Description

    This fantastic one of a kind development opportunity is located in the highly desirable area nearby USC, DTLA, Exposition Park Entertainment District, L.A. Live Entertainment Complex, Staples Center & L.A. Convention Center plus easy access to the 110 freeway. Calling all developers, flippers, and owner/users who are looking to build their State-of-the-art 8 NON-RENT CONTROL Luxurious Units Apartment Building: parking garage on ground level, with 4 units on each of the 2nd & 3rd floor; each unit is about 850 SQFT, 2 beds x 2 baths with W/D in unit, middle island or bar in the kitchen, and a master suite with its own bath and walk-in closet plus a private balcony. The property is shovel-ready and comes with a city-approved set of plans to build a beautifully designed modern building. Construction could start immediately after the COE. Seller will provide the permit-ready plans, survey, and soils report at the COE. Don't miss out on this rare opportunity with tremendous upside potential.

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    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/99106836

    532 W Vernon Avenue Los Angeles (City), CA 90037

    • Price: $1,499,000
    • Status: Active
    • Updated: 194 min ago
    • ID#: 19511454
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    10,373
    SQFT
    $145
    $/SQFT
    2019
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    This fantastic one of a kind development opportunity is located in the highly desirable area nearby USC, DTLA, Exposition Park Entertainment District, L.A. Live Entertainment Complex, Staples Center & L.A. Convention Center plus easy access to the 110 freeway. Calling all developers, flippers, and owner/users who are looking to build their State-of-the-art 8 NON-RENT CONTROL Luxurious Units Apartment Building: parking garage on ground level, with 4 units on each of the 2nd & 3rd floor; each unit is about 850 SQFT, 2 beds x 2 baths with W/D in unit, middle island or bar in the kitchen, and a master suite with its own bath and walk-in closet plus a private balcony. The property is shovel-ready and comes with a city-approved set of plans to build a beautifully designed modern building. Construction could start immediately after the COE. Seller will provide the permit-ready plans, survey, and soils report at the COE. Don't miss out on this rare opportunity with tremendous upside potential.
    Exterior Features

    Garage Spaces 12.00 Lot Size Dimensions 50X145 Lot Size Source Assessor Lot Size Units Square Feet Parking Features GatedConcreteStreetGarage Door OpenerGarageOn Site Parking Total 12.00 Parking YN Yes

    Interior Features

    Cooling Central Air Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 6.00 Gross Multiplier 13.00 Gross Operating Income 288000.00 Laundry YN Yes Net Operating Income 250000.00 Special Listing Conditions Standard Total Expenses 38000.00 Zoning Lar3

    Listing provided courtesy of Antoine Bitar of Douglas Elliman Of California,


    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.
     
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