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3018 9th Avenue
Los Angeles, CA 90018
Sold
LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.
PROPERTY INFORMATION
| MLS # | 23330143 | Lot Size | 10,789 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,495,000
Price Per SqFt: $ 330 |
DOM | 544 Days |
| Address | 3018 9th Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 4,524 Sq. Ft. |
| Postal Code | 90018 | Garage | N/A |
| County | Los Angeles | Year Built | 1947 |
| Bed / Bath | 8 / 0 | Parking | 8 |
| Built In | 1947 | Status | Closed |
| Sold Date | 2024-06-03 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Stackable |
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,595
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/08/2023 | Listed | $1,625,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Chase Simonton, RE/MAX One. 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.
