Pending

3018 9th Ave

Los Angeles CA, 90018

$1,495,000


$330.46 per sqft

Pending

8 Beds

4,524 sqft

Residential

Built in 1947

LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.

23-330143

MLS ID

November 8, 2023

Listed

April 5, 2024

Updated

Map

3018 9th Ave
Los Angeles CA, 90018

Interior Features

Total Stories

1


Bedrooms

8 Beds


Appliances

Built-Ins, Stackable W/D Hookup, Refrigerator, Range/Oven


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.25 Acres


Architectual Style

Low Rise

Other Property Details

Area Name

Mid Los Angeles


Days on Market

98


Garage

No


Parking

Carport Detached


Parking Total

8


View

Yes


View Description

Courtyard


County

Los Angeles


Pool

No


Zoning

LARD3

Listing History

Date

Event

Price

3/25/2024

Pending

2/15/2024

Under Contract

1/22/2024

Active

1/13/2024

Under Contract

12/6/2023

Price Change

$1,495,000

-8%

Listed by Chase Simonton with RE/MAX One
Listing Contact: 310-383-5927 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Aspire Los Angeles shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 4/5/2024

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