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221 S Avenue 19

Los Angeles, CA 90031
  • $2,065,000
  • STATUS: Active
  • ON SITE: 45 Days
  • ID#: 21-110549
Price Reduced
UPDATED: 90 min ago
$2,065,000
  • 10
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,130
    SQFT
  • $500
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Description

4.54% CAP | Turnkey Multifamily Opportunity. We are pleased to present the South Avenue 19 apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These three single story, wood frame stucco buildings were built in 1923,1924, and 1925 and consist of 4,130 SF of living area with eight (8) on-site parking spaces. Further, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The property features six (6) One bedroom | One bathroom units and two (2) spacious, completely remodeled Two bedroom | One bathroom units. Both of the 2 bedroom units and three of the 1 bedroom units have undergone extensive rehab including but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been with updated with new plumbing and upgraded electrical. The new owner will benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow. The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd. The property allows for tenants to live in close proximity to Downtown Los Angeles, with short commutes to the San Gabriel Valley, and close by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 freeway, and nearby parks include Downey Recreation Center, Downey Playground and Lincoln Heights Recreation Center.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-21T23:42:53.51. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.brandiprattrealestate.com/homes/123819142
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221 S Avenue 19 Los Angeles, CA 90031

  • Price: $2,065,000
  • Status: Active
  • On Site: 45 Days
  • Updated: 90 min ago
  • ID#: 21-110549
10
Beds
0
Baths
0
½ Baths
0.23
Acres
4,130
SQFT
$500
$/SQFT
1923
Built
Neighborhood:
Lincoln Heights
County:
Los Angeles
Area:
Lincoln Heights
Property Description
4.54% CAP | Turnkey Multifamily Opportunity. We are pleased to present the South Avenue 19 apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These three single story, wood frame stucco buildings were built in 1923,1924, and 1925 and consist of 4,130 SF of living area with eight (8) on-site parking spaces. Further, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The property features six (6) One bedroom | One bathroom units and two (2) spacious, completely remodeled Two bedroom | One bathroom units. Both of the 2 bedroom units and three of the 1 bedroom units have undergone extensive rehab including but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been with updated with new plumbing and upgraded electrical. The new owner will benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow. The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd. The property allows for tenants to live in close proximity to Downtown Los Angeles, with short commutes to the San Gabriel Valley, and close by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 freeway, and nearby parks include Downey Recreation Center, Downey Playground and Lincoln Heights Recreation Center.
Exterior Features

Lot Size Area 9952 Other Structures Shed(S) Parking Garage DrivewayUncovered Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 8

Interior Features

Baths Total 8.00 Cooling Wall/Window Equipment Other Fireplace Rooms None Flooring LaminateCarpet Heating None Laundry In Unit

Property Features

Assessed Total Value 1313972 Gross Income 142536 Gross Operating Income 138338 Like Units1 6 Like Units2 2 Net Operating Income 93746.00 Number Of Buildings 3 Number Of Units 8 Owner Pays OtherGardenerWater Property Condition Updated/Remodeled Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Other Tenant Pays GasElectricity Total Annual Expense 44592 Type Of Units 1Brs2Br Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Jonathan Prakash DRE#01483131 of Kw Advisors.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-21T23:42:53.51. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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eXp Realty of California, Inc.
2603 Camino Ramon, Suite 200
San Ramon CA, 94583