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Listed by Marie Feleo So, DRE #01866527 • Keller Williams Realty
$ 1,900,000
Est. payment /mo
Price Dropped by $150K
324 W 51st St Los Angeles, CA 90037
5,663 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26136834
Year Built 2023
Lot Size 5,663 Sqft
Source California Regional MLS
Property Description
FULLY RENOVATED 6 UNIT The asset is perfectly positioned to capitalize on all of the major developments and entertainment centers that reside near the University and in Downtown Los Angeles. Originally built in 1922, the property has undergone a complete evolution, culminating in a comprehensive gut- rehab of the existing structure and the ground-up construction of two brand-new detached Accessory Dwelling Units (ADUs) completed in 2023. The Sellers are professional developers by trade who purchased the asset in October 2021 with a clear vision for strategic repositioning. Following this extensive construction and development timeline, the property has successfully stabilized over the last few years, presenting incoming investors with a fully turn-key, optimized, income-producing asset with zero deferred maintenance. The developers transformed the property's original footprint-which initially consisted of four large, one-bedroom units-by gut-rehabbing all interiors and converting them into high-demand three-bedroom configurations. To optimize layout functionality, two of these main front units feature one full bathroom, while an extra half-bathroom was seamlessly added to the remaining two front units, giving them one and a half bathrooms each. To maximize cash
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Interior
Laundry Washer, Dryer
Exterior
Parking Features No Parking
Pool None
Building
Water District - Public
Others
Tax ID 5110027007
Special Listing Condition Not Applicable
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