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Map
$1,346,000 - $1,644,000
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Property -
In Contract
3018 9th Ave
Los Angeles, CA 90018
Studio
0 Bath
4524 Sqft
About This Property
LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This
remarkable and distinctive real estate offering at 3018 9th Ave,
located in the heart of Mid City, Los Angeles. This unique property
encompasses three separate structures designed in an elegant
garden-style, with the two front structures each housing three
units, while the rear structure currently stands vacant and
contains two units. All units are conveniently single-story,
providing tenants with ease of access.Each of the eight units in
this complex features a functional 1 bedroom and 1 bathroom layout,
striking a perfect balance between space and privacy for residents.
Notably, one of the vacant units in the rear structure has been
recently renovated, boasting updated bathrooms, kitchens, and
appliances, making it an appealing option for prospective
tenants.Moreover, the units include washer/dryer hookups, adding to
their desirability and convenience. Additionally, the property
encompasses an underutilized detached garage with eight single-car
parking spots. While presently used for tenant storage, this space
holds great potential for conversion into an Accessory Dwelling
Unit (ADU), which could significantly enhance your return on
investment (Buyer to Verify).With a generous 4,524 sq. ft. of
interior space situated on a spacious 10,789 sq. ft. lot, this
property not only exudes visual charm but also serves as a robust
income generator. Currently, two units are vacant, providing an
immediate opportunity for increased rental income. Furthermore,
there exists a substantial 46% rental upside, waiting to be
realized, which promises an exceptional chance to maximize your
return on investment.The financial track record of 3018 9th Ave
speaks to its ability to generate strong cash flow, making it an
attractive addition to your investment portfolio. This property
stands as a strategically positioned asset in the thriving Mid City
real estate market, making it an enticing prospect for seasoned
investors seeking a reliable source of income and newcomers looking
to enter the market. Please do not disturb any of the tenants. All
showings will be subject to an accepted offer.
The manager has listed the unit size as 4524 square feet.
The manager has listed the unit size as 4524 square feet.
Unit Size
4,524Ft²
Days on Market
-
Land Size
0.25 acres
Price per sqft
$330
Property Type
Property
Property Taxes
-
HOA Dues
-
Year Built
1947
Listed By
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 28, 2024 | In contract | - | |
In contract | |||
Dec 10, 2023 | Price Decreased |
$1,495,000
↓ $130K
(8%)
|
|
Price Decreased | |||
Nov 8, 2023 | Listed | $1,625,000 | |
Listed |
Property Highlights
Air Conditioning
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
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|