HOW MUCH WOULD YOU LIKE TO OFFER FOR THIS PROPERTY?
Additional details
$ 1,900,000
Est. payment /mo
Price Dropped by $150K
324 W 51st St Los Angeles, CA 90037
8 Beds
4 Baths
5,663 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26136834
Bedrooms 8
Lot Size 5,663 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
FULLY RENOVATED 6 UNIT The asset is perfectly positioned to capitalize on all of the major developments and entertainment centers that reside near the University and in Downtown Los Angeles. Originally built in 1922, the property has undergone a complete evolution, culminating in a comprehensive gut- rehab of the existing structure and the ground-up construction of two brand-new detached Accessory Dwelling Units (ADUs) completed in 2023. The Sellers are professional developers by trade who purchased the asset in October 2021 with a clear vision for strategic repositioning. Following this extensive construction and development timeline, the property has successfully stabilized over the last few years, presenting incoming investors with a fully turn-key, optimized, income-producing asset with zero deferred maintenance. The developers transformed the propertys original footprintwhich initially consisted of four large, one-bedroom unitsby gut-rehabbing all interiors and converting them into high-demand three-bedroom configurations. To optimize layout functionality, two of these main front units feature one full bathroom, while an extra half-bathroom was seamlessly added to the remaining two front units, giving them one and a half bathrooms each. To maximize cash flow potential, the developers also constructed two brand-new, detached, two-bedroom and one- bathroom ADUs measuring 641.5 square feet each, bringing the total unit count to six. The exterior exhibits a clean, modern stucco finish, upgraded entry doors, and gravel areas designed for minimal landscaping upkeep.
Location
State CA
County Los Angeles
Zoning Builder
Direction East of the 110, West of Broadway, North of Slauson, South of Vernon
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5110027007
Listed by Marie Feleo So, DRE#01866527 Keller Williams Realty
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION