Residential Income - 2614 Griffin Avenue, Los Angeles, CA

$3,880,000

2614 Griffin Avenue, Los Angeles, CA

2614 Griffin Avenue, Los Angeles, CA 90031 - $3,880,000 · Multi-Family Home for Sale, photo 3

2614 Griffin Avenue, Los Angeles, CA 90031 - $3,880,000 · Multi-Family Home for Sale, photo 4

2614 Griffin Avenue, Los Angeles, CA 90031 - $3,880,000 · Multi-Family Home for Sale, photo 5

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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.

Property details

Year built

1970

Property type

Residential Income

Lot size

13,455 sqft

Location

2614 Griffin Avenue • Los Angeles, CA 90031

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Listed by

ANDY DENG · DENGO INVESTMENT INC.

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