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Erik Gladish

erik.gladish@exprealty.com +1(805) 900-4496

$ 1,299,000

Est. payment | -/mo

7,000 Sqft Lot

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$ 1,299,000

Est. payment | -/mo

Save

7,000 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID RS26124580

HOA Y/N No

Year Built 1914

Lot Size 7,000 Sqft

Property Sub-Type Quadruplex

Property Description

Existing 4-Unit + Approved Plans for 4 New ADUs - Rare RTI Development Opportunity pending final approval - The proposed new construction consists of four spacious 3-bedroom 2-bathroom perfectly positioned for functionality of the corner-lot layout. Close escrow and begin construction immediately upon RTI approval. The existing apartment building features four large 2-bedroom, 1-bath units approximately 950 SF each. Each unit includes interior washer/dryer hookups, separate water heaters, and individually metered gas and electrical service. Upper units feature private balconies. These units are fully occupied. Collect rent while doing construction Recent property improvements include: New roof, Exterior paint, Lead abatement completed for all units, Partial interior paint updates. The existing detached 4-car garages are ready for demolition, making way for the new ADU development. This is an ideal opportunity for developers, investors, or buyers seeking significant upside potential and long-term equity growth. This 8 unit apartment will be worth more than $2.5M with huge cash flow opportunity and equity . Current tenants are long-term occupants with below-market rents, offering immediate income while completing the development and helping offset holding costs during construction. You don't see this too often . Situated on a 7,000 SF corner lot in a prime central Los Angeles location with quick freeway access and just minutes from Downtown LA. Excellent opportunity to reposition and maximize value in a rapidly growing area. PLEASE DO NOT DISTURB TENANTS.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Zoning LARD2

Interior

Fireplaces Type None

Fireplace No

Laundry Washer Hookup, Inside

Exterior

Parking Features Assigned, Door-Single, Garage

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5060028001

Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange, Submit

Listing Terms Cash to New Loan, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Reginald McKizzie Palma Investments reggiemckizzie@gmail.com, DRE #01964289

2103 3rd AVE Los Angeles, CA 90018

Erik Gladish

Key Details

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Exterior

Building

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2103 3rd AVE