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Listed by ANDY DENG • DENGO INVESTMENT INC.
$ 3,880,000
Est. payment /mo
Active
2614 Griffin Avenue Los Angeles, CA 90031
14,359 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 14,359 sqft
Price per Sqft $270
MLS Listing ID WS-26018859
Year Built 1970
Lot Size 0.309 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Don't miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Location
State CA
County Los Angeles
Area 677 - Lincoln Heights
Interior
Heating Wall Furnace
Flooring Tile
Fireplaces Type None
Laundry Community
Exterior
Parking Features Parking Space, Uncovered, Carport
Pool None
Community Features Urban
Utilities Available Sewer Available, Water Available, Electricity Connected, Natural Gas Connected
View Y/N No
View None
Building
Lot Description 21-25 Units/Acre
Sewer Public Sewer
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