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