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244 S Avenue 18

Los Angeles, CA 90031
  • $4,200,000
  • STATUS: Active
  • ON SITE: 148 days
  • MLS #: 21-680834
UPDATED: 28 min ago
$4,200,000
  • 24
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,958
    SQFT
  • $351
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2016
County:

School Ratings & Info

Description

We are pleased to present the opportunity to acquire 244 S Avenue 18, a newer constructed SIX TOWNHOME apartment complex located in the heart of Lincoln Heights. This property was built in 2016 and offers 11,958 sq ft of rentable space situated on a 10,000 sq ft parcel. This 6 unit building offers a desirable mix of: six - large 4 bed | 3 bath units, plans are currently in plan check to convert a storage room into 1BD ADU. Currently one unit is leased for $3,750 while the other units are FURNISHED and being leased as short term rentals grossing appx $5,000/mo for each unit. Each unit is separately metered for gas and electric and has its own water heater. Property offer tenants on-site laundry facilities and gated parking. High walkability, just steps from shops, restaurants, schools, library and more. The subject property is conveniently located within close proximity to the 10, 5, and 110 fwy and minutes away from Pasadena, Downtown Los Angeles, Glendale and Hollywood.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T19:42:32.883. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/113309912
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244 S Avenue 18 Los Angeles, CA 90031

  • Price: $4,200,000
  • Status: Active
  • Updated: 28 min ago
  • MLS #: 21-680834
24
Beds
0
Baths
0
½ Baths
0.23
Acres
11,958
SQFT
$351
$/SQFT
2016
Built
Neighborhood:
Lincoln Heights
County:
Los Angeles
Area:
Lincoln Heights
Property Description
We are pleased to present the opportunity to acquire 244 S Avenue 18, a newer constructed SIX TOWNHOME apartment complex located in the heart of Lincoln Heights. This property was built in 2016 and offers 11,958 sq ft of rentable space situated on a 10,000 sq ft parcel. This 6 unit building offers a desirable mix of: six - large 4 bed | 3 bath units, plans are currently in plan check to convert a storage room into 1BD ADU. Currently one unit is leased for $3,750 while the other units are FURNISHED and being leased as short term rentals grossing appx $5,000/mo for each unit. Each unit is separately metered for gas and electric and has its own water heater. Property offer tenants on-site laundry facilities and gated parking. High walkability, just steps from shops, restaurants, schools, library and more. The subject property is conveniently located within close proximity to the 10, 5, and 110 fwy and minutes away from Pasadena, Downtown Los Angeles, Glendale and Hollywood.
Exterior Features

Covered Parking 12 Lot Size Area 10002 Other Structures None Parking Garage Controlled EntranceCommunity Garage Total Parking 12

Interior Features

Baths Total 18.00 Cooling Central Equipment DishwasherGarbage DisposalHood FanMicrowaveDryerWasherRefrigeratorRange/Oven Heating Central

Property Features

Assessed Total Value 1820971 Gross Income 290400 Gross Operating Income 290400 Like Units1 1 Like Units2 1 Like Units3 4 Net Operating Income 198488.00 Number Of Buildings 1 Number Of Units 6 Owner Pays WaterGardener Rent Control YN No Sale Type Standard Security Features Gated Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays ElectricityGas Total Annual Expense 86942 Type Of Units Apartment Year Built Source Assessor Zoning Lard1.5

Listing provided courtesy of Shawn S. Kormondy DRE#01451888 of Keller Williams Beverly Hills.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T19:42:32.883. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253