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Sold Date4/17/2021
Closed

712 E Rosecrans AvenueLos Angeles, California CA90059-3509

Listing IDSB20029512

10,840 SqFt 0.710 Acres

$1,450,000

We are pleased to present this incredibly rare opportunity to purchase a portfolio of homes located at 712 & 718 E Rosecrans in Central Los Angeles, CA 90059. This unique value-add 8-unit portfolio provides almost any investor an opportunity to create endless value at an incredibly reasonable price of $1,500,000. Either buy, rehab, and hold for major rental upside, add on to existing structures, or develop into a multitude of options. The possibilities are endless! The featured properties are situated on two contiguous lots with more than 15k sf and 4 units each. This allows prospective buyers to qualify for both residential and commercial lending. There are currently 8 existing 3-bedroom detached homes totaling over 10k sf of livable space with ample parking, courtyard, and private yard and patio areas. Both lots are zoned LCR3 and can easily be combined or subdivided depending on owner’s needs.This opportunity boasts a pro forma cap rate over 11%, and an opportunity to develop 30 units at 50k/door. A developer dream; the property is priced at $138/foot and 187k/door. Call now as this opportunity will not last long.
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