1201 E 59th PL new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90001
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,100 sqft
Price per Sqft $375
MLS Listing ID DW24215271
HOA Y/N No
Year Built 2024
Lot Size 0.257 Acres
Acres 0.2571
Property Description
Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro-forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in today’s market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor; why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Zoning LCR3YY
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Heating Central
Cooling Central Air
Fireplace No
Laundry Laundry Room
Exterior
Garage Spaces 12.0
Garage Description 12.0
Pool None
Community Features Sidewalks
Total Parking Spaces 12
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction Yes
Others
Senior Community No
Tax ID 6008008031
Acceptable Financing Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Special Listing Condition Standard