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2915 Maple Avenue
Los Angeles, CA 90011
Sold
2915 Maple Avenue
Los Angeles, CA 90011
Sold
We are pleased to present a ten (10) unit multifamily redevelopment opportunity located in Los Angeles, California. The subject properties are in a solid South Los Angeles location, east of USC and south of E Adams Boulevard. Built in 1911 and 1913 respectively, this property is a double-lot multifamily property consisting of ten (10) one-bedroom / one-bathroom units total; six (6) standard sized units in the corner lot and four (4) larger units in the adjacent lot. The back of the property features fully parked on-site parking. The property is a very ideal value-add opportunity, priced at 5.48 pro forma GRM and 13.86% pro forma cap rate. This double-lot is situated on a hard signalized corner and is zoned LAR3-1 with 12,550 SF of combined land. This allows for the development of fifteen (15) units by-right, or twenty-four (24) units utilizing tier 1 TOC benefits. The zoning allows for 45' max height and an FAR of 3:1. With TOC, a developer can be granted incentives to build 56' max height and a 4.2:1 FAR. Tenants will enjoy living in close proximity to the University of Southern California (USC) along with its collegiate amenities. The strength of this area is demonstrated by CityView, a development firm that just completed their latest mixed-use complex featuring 296-units with ground floor retail just a few blocks from the subject property on the corner of Adams Boulevard and Grand Avenue. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on either capturing rental upside or developing up to twenty-four (24) units in a strong rental market adjacent to USC at an attractive basis.
PROPERTY INFORMATION
| MLS # | 23309901 | Lot Size | 12,550 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,250,000
Price Per SqFt: $ 171 |
DOM | 601 Days |
| Address | 2915 Maple Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 7,316 Sq. Ft. |
| Postal Code | 90011 | Garage | N/A |
| County | Los Angeles | Year Built | 1911 |
| Bed / Bath | 10 / 0 | Parking | 8 |
| Built In | 1911 | Status | Closed |
| Sold Date | 2023-11-29 |
INTERIOR FEATURES
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,333
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/26/2023 | Active Under Contract | $1,399,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Jason Tuvia, Marcus & Millichap. 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.
