$2,650,000

2951 Francis Avenue, Los Angeles 90005

15

Beds

11

Baths

5,502

Square feet

6,753

Lot Size

4

# Of Units

Listing Agent
Max Lee - Real Broker

REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. SELLER HAS 2 ESTIMATE COST OF CONSTRUCTION AT $160 PER SQ FEET. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. SPRAWLING RESTRANTS NEARBY AND SUPERMARKET, FLOWER SHOP, BUS STOPS, FEW BLOCKS FROM STARBUCKS AND METRO STATION. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,751 square foot parcel, the property is comprised entirely of three-bedroom units. New ownership has the ability to add two accessory dwelling units (ADU's) TOTALLING 1,650 SF., for a two-bedroom and one-bedroom unit. ADU Permits are "RTI" Status. Current Ownership has extensively renovated all units with stainless-steel kitchen appliances, new flooring, in unit washer/dryers, AC systems in each bedroom & more. ALL ROOMS ARE LARGE SIZES. The continued gentrification of the surrounding area along with the rare opportunity to acquire a fully rehabbed, luxury apartment community with a healthy income stream makes 2951 Francis Avenue an excellent acquisition opportunity FOR THOSE WHO ARE LOOKING TO DO 1031 EXCHANGE OR A NEW PURCHASE TO MAKE YOUR $$$ GO FARTHER, CREATING GENERATIONAL WEALTH.

Facts & Features

MLS® # 24376665
Price $2,650,000
Bedrooms 15
Bathrooms 11.00
Square Footage 5,502
Lot Size 6,753
Year Built 1921
Type Residential Income
Status Active
# Of Units 4

Community Information

Address 2951 Francis Avenue
Area C17 - Mid-Wilshire
City Los Angeles
County Los Angeles
Zip Code 90005

Amenities

Parking Assigned
Garages Assigned
Is Waterfront No
Has Pool No

Interior

Appliances Dishwasher, Disposal, Refrigerator, Dryer, Washer
Heating Combination
Cooling Dual
Has Basement No
Fireplace No
# of Stories 2
Stories One

Additional Information

Date Listed April 4th, 2024
Days on Market 27
Zoning LAR4
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentMax Lee
OfficeReal Broker

Listing Map

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