12340 Tennessee Avenue, Los Angeles, CA 90064

About this property

2302 S. Carmelina Ave. & 12340 Tennessee Ave. is a rare multi-family investment opportunity located in the heart of LA's famed community of Rancho Park. Consisting of 9 units set amongst 3 properties and lushly landscaped grounds, the buildings boast a great unit mix consisting of spacious 1-bedroom and studio floor plans and a home. The buildings represent a quintessential value-add opportunity rarely available in such a prime location. The unit mix includes (1) 1-bed, 1-bath house with a den, (4) 1-bed, 1-bath units, and (4) efficiency units. Please note, the original configuration of the property consisted of a house and 4 units. The 4 units were all 2 bedroom two bath units and were converted to 4 one bedroom one bath units and 4 efficiency units. Certificate of occupancy shows 5 units. Each of the units offers an abundance of rental upside. Additional property features include on-site parking, an on-site laundry facility, and gated entry. Priced at a low $255,000 per unit, this basis is rarely seen on the Westside. A quick walk to high-end dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire an easy to manage turn-key asset in one of the best locations of the Westside.

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$1,652,000

Sold June 2023 · listed $1,995,000, orig. $2,295,000, on market February 2023 · MLS #23241663 · Source: CRMLS

Listing Agent: Errol Spiro · Listing Office: Miller & Desatnik Realty Co. · Contact: 310-202-9166 · Bought with: Glenn Brander · Miller & Desatnik Realty Co.

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