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2319 2nd Ave
8 Unit Apartment Building $1,200,000 USD ($150,000 USD/Unit) 4.66% Cap Rate Los Angeles, CA 90018
Investment Highlights
- Two-story building boast 7,042+/-sqft of livable space.
- Expansive 12,583+/-SF corner Lot Zoned for RD2 is prime for potential development/multiple ADU's.
- Attached community garden.
- Desirable unit-mix of (2) 3 bedrooms/2 bath & (2) 3 bedrooms/1.5 baths.
- Off-street parking can accommodate (8) spaces in rear.
Executive Summary
2319 2nd Avenue is an incredibly rare investment opportunity in Jefferson Park! Nestled on a massive corner lot, this two-story Fourplex built in 1921, boasts 7,042+/-sqft of livable space and offers a desirable unit-mix of (2) 3 bedrooms/2 bath & (2) 3 bedrooms/1.5 baths. The formal living and dining room completes the spacious floor plans. The expansive 12,583+/-SF Lot Zoned for RD2 is prime for potential development, multiple ADU's or redevelopment into a larger residential complex subject to local regulations. Located in a revitalized district with rising property values and a strong demand for housing options. All units are tenant occupied with a generous rental upside $69,900/annually (+/-4.14% cap rate, +/-19.31 GRM). Add value opportunity with potential projected rental income of $153,600+/-/annually (+/-9.83% cap rate, +/-8.14 GRM). Gas & Electric are separately metered with a common building meter, and one water meter. Off-street parking can accommodate (8) spaces in rear. All on one Lot, step outside to a tranquil front yard with grass for play and enjoy gardening at the community garden on the attached sde yard- separate water meter attached to community garden and water consumption paid by City of LA. A thriving community with close proximity to West Adams, USC, DTLA, 10 FWY, Metro Expo Line, and plenty of exciting food options, including Insta famous Phillips Bar-B-Que.
Whether you're looking to expand your investment portfolio or embark on a new development project, this fourplex offers the perfect blend of passive income and long-term growth potential.
Whether you're looking to expand your investment portfolio or embark on a new development project, this fourplex offers the perfect blend of passive income and long-term growth potential.
Property Facts Under Contract
| Price | $1,200,000 USD | Property Subtype | Apartment |
| Price Per Unit | $150,000 USD | Building Class | C |
| Sale Type | Investment | Building Size | 7,096 SF |
| Cap Rate | 4.66% | No. Stories | 2 |
| Gross Rent Multiplier | 19.31 | Year Built | 1921 |
| No. Units | 8 | Parking Ratio | 1.13/1,000 SF |
| Property Type | Multifamily |
| Price | $1,200,000 USD |
| Price Per Unit | $150,000 USD |
| Sale Type | Investment |
| Cap Rate | 4.66% |
| Gross Rent Multiplier | 19.31 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Building Size | 7,096 SF |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.13/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 8 | - | - |
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Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 5059-026-028 | Improvements Assessment | $754,800 USD |
| Land Assessment | $1,759,500 USD | Total Assessment | $2,514,300 USD |
PROPERTY TAXES
Parcel Number
5059-026-028
Land Assessment
$1,759,500 USD
Improvements Assessment
$754,800 USD
Total Assessment
$2,514,300 USD
zoning
| Zoning Code | RD2 (Expansive 12,583+/-SF Lot Zoned for RD2 is prime for potential development/ADU's. https://app.disclosures.io/link/2319-2nd-Avenue-fr3tmyxh) |
| RD2 (Expansive 12,583+/-SF Lot Zoned for RD2 is prime for potential development/ADU's. https://app.disclosures.io/link/2319-2nd-Avenue-fr3tmyxh) |
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2319 2nd Ave
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