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Listed by ANDY DENG, DRE #01297692 • DENGO INVESTMENT INC.
$ 3,880,000
Est. payment /mo
Active
2614 Griffin AVE Los Angeles, CA 90031
0.31 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRWS26018859
Year Built 1970
Lot Size 0.309 Acres
Source California Regional MLS
Property Description
Don't miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate. Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Rooms
Kitchen Oven Range
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Community Facility
Exterior
Parking Features Carport , Parking Area, Uncovered Parking
Garage Spaces 19.0
Pool 31, None
View None
Roof Type Flat / Low Pitch
Building
Story Three or More Stories
Water Hot Water, District - Public
Others
Tax ID 5206009017
Special Listing Condition Not Applicable
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