212 E 29th Street, Los Angeles, CA 90011 (MLS # 24463491)
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Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!
| DAYS ON MARKET | 38 | LAST UPDATED | 11/18/2024 |
|---|---|---|---|
| YEAR BUILT | 2024 | COMMUNITY | Downtown L.A. |
| GARAGE SPACES | 7.0 | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Dryer, Refrigerator, Washer |
| AREA | Downtown L.A. |
| GARAGE | Door-Multi, Door-Single, Garage, Gated, Tandem, Yes |
| HEAT | Central |
| LOT | 6252 sq ft |
| LOT DIMENSIONS | 50x125 |
| PARKING | Door-Multi,Door-Single,Garage,Gated,Tandem |
| SEWER | Other |
| STORIES | 3 |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
| ZONING | LARD1.5 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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