2416 S Ridgeley Drive, Los Angeles, CA 90016

About this property

Opportunity to own in one of most rapidly appreciating neighborhoods in all of Los Angeles! 2416 S Ridgeley Dr is a 6-unit apartment building situated in the heart of flourishing West Adams. Currently operating at a 5.37% CAP and 11.61 GRM, the subject property is ideal for any investor looking for strong day 1 income with plenty of room to grow rents. 2416 S Ridgeley Dr is comprised of (6) 2-Bed/1-Bath units - (1) Unit is currently vacant and (1) unit is a Sec. 8 tenant. There are (3) two-car garages spaces for a total of 6 parking spots. The subject property is only minutes from trendy Downtown Culver City, Downtown Los Angeles and the city's metro line. Renters will enjoy the proximity to the 10 , 405 and 110 freeways, making commuting in Los Angeles a breeze. This is an excellent opportunity to acquire an investment property with strong income and future upside in rents and the neighborhood.

Listing description from the March 2024 sale, as reported to CRMLS.

Sale history

$1,525,000

Sold March 2024 · listed $1,595,000, on market October 2023 · MLS #SB23189376 · Source: CRMLS

Listing Agent: Cameron Samimi · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-259-7556 · Bought with: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc.

$1,300,000

Sold January 2023 · listed $1,550,000, orig. $1,700,000, on market June 2022 · MLS #22172595 · Source: CRMLS

Listing Agent: Carolyn Bryant · Listing Office: Carolyn Bryant · Contact: 323-363-4853 · Bought with: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc.

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