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Map
$950,000
●
Property -
For Sale
2755 Raymond Ave
Los Angeles, CA 90007
Studio
0 Bath
3821 Sqft
$4,665
Estimated Monthly
$0
HOA / Fees
About This Property
We are pleased to offer the opportunity to acquire this value-add
three (3) unit Student Housing/Multi-Family investment on 2755
Raymond Ave, located in the DPS patrol zone, and close proximity to
the University of Southern California (USC). The investment
consists of one (1) large apartment building on an oversized corner
10,602 sqft lot. The property features a unit mix of one (1) 3
bedroom + 1 bathroom unit, as well as two (2) 2 bedroom + 1
bathroom units. Additionally, one of the 2 bedroom units is vacant,
affording any buyer the ability to renovate the unit and select
their own tenant. The investment also allows the opportunity to
further increase cash flow by adding multiple Accessory Dwelling
units (ADU's- Buyer to Verify) in the rear of the structure. This
property boasts remarkable redevelopment potential across its
expansive 10,602 sqft lot. Benefiting from LARD2 zoning ordinance
and an additional TOC Tier 1 density bonus, the site presents a
unique opportunity to develop. The generous lot size not only
provides ample space but also positions this opportunity to
leverage city incentives, potentially facilitating the construction
of affordable housing, a vision aligned with community needs.
Notably, while situated in a historical zone, the property has been
deemed a non-contributor, offering flexibility for future
endeavors. (*Buyer to verify all details pertaining to zoning and
development potential). Given the location, attractive local area
amenities, and opportunity to drastically increase rental income
via development as well as tenant turnover, this investment
presents an excellent opportunity for an investor to acquire a
desirable apartment building in the attractive USC submarket with
strong value add upside.
The manager has listed the unit size as 3821 square feet.
The manager has listed the unit size as 3821 square feet.
Unit Size
3,821Ft²
Days on Market
60 days
Land Size
0.24 acres
Price per sqft
$249
Property Type
Property
Property Taxes
-
HOA Dues
-
Year Built
1906
Listed By
Last updated: 2 months ago (CLAWCA #363169)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Feb 28, 2024 | Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | $950,000 | |
Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | |||
Sep 8, 1997 | Sold to Hector Martinez | $165,000 | |
Sold to Hector Martinez |
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Active
House
3
Beds
2.5
Baths
2,261 ft²
$376/ft²
$849,000
Sep 28, 2023
-
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
07/11/2023
|
|
Loft
|
-
|
3821 ft²
|
$1,000,000
Loft
-
3821 ft²
|
-
-
|
-
|
Adam Shamooelian
Keller Williams Beverly Hills
|
Building Info
2755 Raymond Avenue
2755 Raymond Avenue, Los Angeles, CA 90007
- 1 Unit for Sale