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$ 990,000
Est. payment | /mo
12 Beds
6 Baths
4,048 SqFt
$ 990,000
Est. payment | /mo
12 Beds
6 Baths
4,048 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,048 sqft
Price per Sqft $244
MLS Listing ID 26992987
Bedrooms 12
HOA Y/N No
Year Built 1910
Lot Size 9,644 Sqft
Property Description
610 East 24th St is a 4-unit property in Historic South Central, offered at $990,000 with approx. 53% rental upside. Built in 1910, the property includes 3 separate buildings totaling approx. 4,048 SF, on a spacious 9,644 SF corner lot. The unit mix is comprised of (2) 4-bdrm. /2-bath residences and (2) 2-bdrm./1-bath units, giving the property larger floor plans than are typically found in a fourplex. The property has a distinctly residential feel, led by a Craftsman-influenced front residence with gabled rooflines, exposed eaves, a covered front porch, bay window, and fenced yard. The additional buildings are positioned toward the rear of the property, creating greater separation between the four units, while a large central parking area provides substantial off-street parking for residents. Current gross rents total $6,730 per month, ompared with projected rents of $10,300 per month, representing approx. 53% rental upside. Located just south of Downtown Los Angeles, 610 East 24th Street provides convenient access to USC, Exposition Park, the LA Fashion District, and surrounding South Los Angeles neighborhoods. USC is approx. 1.5 miles away, the Fashion District approx. 1.4 miles, and Exposition Park approx. 1.7 miles, placing education, employment, retail, museums, sports, and entertainment within a relatively compact radius. 610 East 24th Street brings together larger residential units, three separate buildings, and a location with convenient access to USC, Exposition Park, and Downtown Los Angeles. With current rents below the projected rents shown in the property's rent roll, there is also a clear path for income to grow over time.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD2
Interior
Fireplace No
Laundry None
Exterior
Parking Features Gated, Uncovered
Community Features Gated
View Y/N No
View None
Total Parking Spaces 7
Building
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5127009001
Security Features Gated Community
Special Listing Condition Standard
Listed by Max Berger Compass #02054048
Nearby Locations