3018 9th Avenue, Los Angeles, CA 90018
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Sold Price :
$1,350,000
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Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1947
Property Description
LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
3018 9th Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90018 |
| County |
Los Angeles |
| Listing Agent |
Chase Simonton DRE #01766871 |
| Co-Listing Agent |
Robert Carlile DRE #02066811 |
| Courtesy Of |
RE/MAX One |
| Close Price |
$1,350,000 |
| Status |
Closed |
| Type |
Residential Income |
| Structure Size |
N/A |
| Lot Size |
10,789 |
| Year Built |
1947 |
Listing information courtesy of: Chase Simonton, Robert Carlile, RE/MAX One. *Based on information from the Association of REALTORS/Multiple Listing as of Jun 3rd, 2024 at 10:33 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
