$2,250,000

2910 Acresite Street, Los Angeles, CA 90039

10,079

Lot Size

5

# Of Units

We are pleased to present the opportunity to acquire a 5-unit apartment building in Atwater Village, across the river from Elysian Valley (more commonly known as Frog Town). 2910 Acresite Street was built in 1965 and sits on a LAR1 zoned, 10,078 square foot lot with 4,898 square feet of rentable space. This low maintenance property features an excellent unit mix of one (1) 2 Bed/1.5 Bath townhouse unit and four (4) 3 Bed/2 Bath units with ample parking and an on-site laundry room. An incoming investor can capitalize on over 39% upside in potential gross rent collections in this value-add deal, as rents in the area have continued to skyrocket. The property is on the corner lot of Acresite Street, right next to an entrance to the Los Angeles Riverwalk, where The North Atwater East Bank Riverway Project will transform 2.2 miles of existing asphalt maintenance road into a clearly-marked, multi-use, accessible riverway from the 134 Freeway to Los Feliz Blvd. Future tenants will have ease of accessing this area for exercise and entertainment, significantly boosting the property's potential for future rents as the area continues to be one of the most rapidly gentrifying pockets in the city of Los Angeles.

Facts & Features

MLS® # 21787676
Price $2,250,000
Bathrooms 0.00
Lot Size 10,079
Year Built 1965
Type Residential Income
Status Active
# Of Units 5

Community Information

Address 2910 Acresite Street
Area 606 - Atwater
City Los Angeles
County Los Angeles
State CA
Zip Code 90039

Amenities

Parking Spaces 10
Parking Driveway
Garages Driveway
View River
Is Waterfront No
Has Pool No

Interior

Appliances Dryer, Washer
Has Basement No
Fireplace No
# of Stories 2

Additional Information

Date Listed September 24th, 2021
Days on Market 67
Zoning LAR1
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentSevak Keshishian
OfficeMarcus & Millichap

Listing Map

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