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2614 Griffin Avenue, Los Angeles, CA 90031
Priced at Only: $3,880,000
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Address: 2614 Griffin Avenue, Los Angeles, CA 90031
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  • MLS#: WS26018859 ( Apartment )
  • Street Address: 2614 Griffin Avenue
  • Viewed: 2
  • Price: $3,880,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1970
  • Bldg sqft: 0
  • Days On Market: 18
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90031
  • Provided by: DENGO INVESTMENT INC.
  • Contact: ANDY ANDY
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Dont 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.
Features
Appliances
  1. Free-Standing Range
  2. Water Heater Central
Assessments
  1. Buyer to Verify
Association Fee
  1. 0.00
Building Area Total
  1. 14359.00
Carport Spaces
  1. 19.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 1 Common Wall
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Days On Market
  1. 10
Electric
  1. Standard
Electric Expense
  1. 50345.00
Entry Location
  1. Griffin
Fencing
  1. None
Fireplace Features
  1. None
Flooring
  1. Tile
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 16687.00
Laundry Features
  1. Community
Levels
  1. Three Or More
Lockboxtype
  1. None
Lot Features
  1. 21-25 Units/Acre
Netoperatingincome
  1. 177325.00
Number Of Separate Electric Meters
  1. 25
Number Of Separate Gas Meters
  1. 25
Parcel Number
  1. 5206009017
Parking Features
  1. Carport
  2. Parking Space
  3. Uncovered
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Roof
  1. Flat
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 455417743:CRM
Spa Features
  1. None
Tenant Pays
  1. Electricity
Totalactualrent
  1. 354206.00
Totalexpenses
  1. 178822.00
Trash Expense
  1. 10799.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Available
  4. Water Available
View
  1. None
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Window Features
  1. Screens
Year Built
  1. 1970
Year Built Source
  1. Public Records
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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