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$ 500,000
Est. payment | /mo
4 Beds
4 Baths
2,704 SqFt
$ 500,000
Est. payment | /mo
4 Beds
4 Baths
2,704 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,704 sqft
Price per Sqft $184
MLS Listing ID 26863525
Bedrooms 4
HOA Y/N No
Year Built 1923
Lot Size 8,999 Sqft
Property Description
Marcus & Millichap presents 3109 George Street, a four-unit multifamily investment opportunity located in Lincoln Heights, one of Los Angeles' most historic and rapidly evolving neighborhoods. The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities. The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over.3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station.With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Zoning LARD3
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Private, Uncovered
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5208001029
Special Listing Condition Standard
Listed by Sevak Keshishian Marcus & Millichap #01887505
Nearby Locations