6223 3rd Avenue, Los Angeles, CA 90043

About this property

PART OF A 2 BUILDING PORTFOLIO - sold together with adjacent lot 6215 3rd Ave for $1,750,000 total (2 fourplexes - 8 total units). We're pleased to present an extremely rare investment opportunity in the heart of LA's Hyde Park Neighborhood, less than 3 miles from SoFi Stadium. The 6215-6223 3rd Ave package consists of two (2) detached 3,120 SF fourplexes (both LAR3 Zoning) on two (2) adjacent lots totaling 0.32 AC of land, conveniently positioned on the corner of Hyde Park Blvd & 3rd Ave. Built in 1950 & 1952 respectively, the buildings feature eight (8) 2+1 units, each separately metered, with attractive corner lot curb appeal, a large center courtyard, and ample parking within the property gates, including 7 garage spaces with ADU potential (+10 additional on-site tandem spaces). 6 out of 8 units only have minor interior updates, creating plenty of value-add potential. This package offers an excellent opportunity for any investor to capitalize on over 80% in rental upside, including an upcoming allowable rent increase of up to 7% beginning Feb 1, 2024.

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

Sale history

$920,000

Sold April 2024 · listed $925,000, on market October 2023 · MLS #23327213 · Source: CRMLS

Listing Agent: Andrew Malekie · Listing Office: Link Brokerages · Contact: 310-695-6510 · Bought with: Subscriber Non · Non-Participant Office

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