3018 9th Ave

Property feature image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Address: 3018 9th Ave, Los Angeles, California, US
Created date: May 15, 2024
Date last updated: May 15, 2024

Property Description

LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.

Key Property Information

Listing Status: Pending Sale
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,495,000
No. of Units: 8
Year Built: 1947
Lot Size: 4,524.00 Sq ft
Opportunity Zone: No
Price per unit: $186,875
Property Website Click Here
Number of Bedrooms: 8
Number of Bathrooms: 0
Address: 3018 9th Ave, Los Angeles, CA 90018, USA
Provided by:

Similar Properties in the Area

820 52nd St

Oakland , California
California & West + Apartment Buildings
Price: $1,199,000

Anza South Apartments

Torrance , California
California & West + Apartment Buildings
Units: 34
Price: $12,400,000

2550 College Place

Fullerton , California
California & West + Apartment Buildings
Units: 18
Price: $8,700,000
popup background image