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2422 Florence Avenue
Los Angeles, CA 90043
DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.
PROPERTY INFORMATION
| MLS # | 24430687 | Lot Size | 5,744 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 699,000
Price Per SqFt: $ 656 |
DOM | 255 Days |
| Address | 2422 Florence Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 1,066 Sq. Ft. |
| Postal Code | 90043 | Garage | N/A |
| County | Los Angeles | Year Built | 1955 |
| Bed / Bath | 5 / 0 | Parking | 10 |
| Built In | 1955 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Range |
| Has Heating | Yes |
| Heating Information | Central |
| Has Cooling | No |
| Cooling Information | None |
| Has Spa | No |
| SpaDescription | None |
| SecuritySafety | Gated Community |
| Bathroom Information | Shower |
EXTERIOR FEATURES
| Roof | Composition, Shingle |
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $746
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 08/22/2024 | Listed | $799,000 |
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Listing provided courtesy of Stephanie Younger, Compass. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
