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Key Details
Sold Price $1,700,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,200 sqft
Price per Sqft $404
MLS Listing ID CL25495359
Sold Date 04/11/25
HOA Y/N No
Year Built 1948
Lot Size 6,251 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
This property offers an exceptional value-added investment opportunity, with an estimated 47% upside potential. Current rental rates are significantly below market value, allowing a new owner to renovate and modernize the units to increase their desirability and rental income. With strategic upgrades, the property can attract high-quality tenants and generate impressive returns. Adding to its appeal, this is the first time the property has been on the market in over 30 years, making it a rare opportunity to acquire a well-maintained asset with long-term potential. Passed down through generations, it is now ready for a new owner to reposition it for future growth. Located in the prime Beverly Grove neighborhood, the property offers easy access to world-class shopping, dining, and cultural attractions. Additionally, the property includes ample rear parking with the potential to add an accessory dwelling unit (ADU), subject to buyer verification. This feature enhances the investment appeal by offering an opportunity for additional rental income.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5510023035
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© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with DanaBrody
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