2713 Darwin Ave

• 4 existing large 1-bedroom units
• 3 ADUs with approved plans RTI
• Stabilized 6.6% CAP upon completion of ADUs
• Opportunity to achieve 8.12% CAP at market

Property Description

Builder's Dream! 2713 Darwin Street is a 2,697 square foot, two-story asset situated on a 7,407 square foot lot. The offering includes approved plans for an additional 3 ADUs, one 3-bedroom 2 bath, and two 1 bedroom 1 bath units. There is plenty of space for parking each unit as well as other amenities such as BBQ area or dog run. This rare investment opportunity in the historic Lincoln Heights neighborhood is centrally located to Downtown Los Angeles, Dodger Stadium, Lincoln Park, USC Medical Center, and LA State Historic Park. It is less than one mile to Lincoln High School, LA Leadership Academy, and Griffin Elementary School. Tenants enjoy easy access to the 110 and 10 freeways as well as I5. An investor or builder will benefit from a stabilized income producing asset that upon completion of the three ADUs will operate at close to a 7% CAP and with the possibility of over a 8% CAP rate by exercising a "cash-for-keys" strategy to completely renovate the existing 4 units to market rate.