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Levon Arzumanyan

levon.a@theagencyre.com +1(213) 414-8088

$ 699,000

Est. payment -/mo

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Price Dropped by $100K

2422 W Florence AVE Los Angeles, CA 90043

5 Beds

2 Baths

1,066 SqFt

UPDATED:

10/10/2024 10:15 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,066 sqft

Price per Sqft $655

MLS Listing ID 24430687

Bedrooms 5

HOA Y/N No

Year Built 1955

Lot Size 5,745 Sqft

Acres 0.1319

Property Description

DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning LAC2

Rooms

Other Rooms Shed(s)

Interior

Heating Central

Cooling None

Fireplaces Type None

Fireplace No

Appliance Range, Dryer, Washer

Exterior

Garage Gated

Pool None

Community Features Gated

View Y/N No

View None

Roof Type Composition,Shingle

Parking Type Gated

Total Parking Spaces 10

Private Pool No

Building

Story 1

Entry Level One

Sewer Other

Architectural Style See Remarks

Level or Stories One

Additional Building Shed(s)

New Construction No

Others

Senior Community No

Tax ID 4009002007

Security Features Gated Community

Financing Cash

Special Listing Condition Standard

Listed by Stephanie Younger • Compass

Levon Arzumanyan

Director, Estates Division | License ID: 01836944

+1(213) 414-8088

Levon Arzumanyan

2422 W Florence AVE Los Angeles, CA 90043

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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2422 W Florence AVE