1201 E 59th Pl - Apartments FOR SALE


Los Angeles, CA 90001- Florence-Graham
$3,649,000 USD
310-730-9489
1201 E 59th Pl, Los Angeles, CA for Sale
$3,649,000 USD
Apartments - FOR SALE
1/39
null | Request Cap Rate

1201 E 59th Pl
Los Angeles, CA 90001
Florence-Graham


HIGHLIGHTS

  • Opportunity Zone
  • No Rent Control
  • All Separate Utilities
  • Near DTLA

OVERVIEW

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 and bordered line with Huntington Park and only 7 miles from DTLA! This home 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 $292,320 in gross rents. Amazing est. 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. Why? Because unlike other buildings, this one spacious 12,200 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? This property also qualifies for AB 2097 (parking exempt zone). Hence, you can potentially convert the garages into ADUs. 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!

FOR SALE DETAILS

PRICE

$3,649,000 USD

PRICE/SF

$361 USD /SF

# OF UNITS

8

PRICE/UNIT

$456,125

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 units New Construction OZ

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,200 SF

ZONING

SP

APN/PARCEL ID

6008-008-031

ASK ABOUT THIS PROPERTY

Daniel TerrazasVIP Real Estate FirmMore Info
310-730-9489

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Daniel TerrazasVIP Real Estate FirmMore Info
310-730-9489

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.