2233 Riverdale Avenue, Los Angeles, CA 90031 (MLS # PF23113521)
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Introducing 2233 Riverdale Avenue - a prime 8-unit multifamily investment opportunity in the heart of Los Angeles! Nestled in Frogtown, around the corner from Silver Lake, this remarkable building is poised to deliver immediate returns for the savvy investor. The property has undergone a comprehensive renovation (including new electrical systems, plumbing, and roof) and now offers the perfect blend of modern comfort and unmatched location.Each of the eight units offers an inviting and comfortable living space, appealing to a wide range of tenants. The thoughtfully designed floor plans provide an efficient use of space for residents to relax and unwind. The modern finishes incorporated into each unit contribute to an elevated living experience, ensuring high tenant satisfaction and long-term occupancy. Additionally, the property features desirable amenities like secure gated entry and parking, central air conditioning, in-unit laundry, and an electric vehicle charger, further enhancing its appeal and marketability. With an incoming cap rate of nearly 5% and low operating costs bolstered by the recent renovations, buyers can enjoy peace of mind and steady revenue generated by this extremely low-maintenance building. Moreover, with an impending approval for a Tenancy in Common (TIC) structure, the potential for the individual sale of units (like condos) unlocks incredible future value and potential returns! With the demand for housing in Los Angeles higher than ever before, this forthcoming approval makes the property an even more enticing investment.With its strategic location, updated infrastructure, impressive revenue potential, and low-maintenance nature, 2233 Riverdale is poised to deliver exceptional returns for savvy investors. Don't miss out on this chance to acquire a turnkey investment with significant income and upside potential in one of Los Angeles' most desirable areas!
| DAYS ON MARKET | 326 | LAST UPDATED | 6/28/2023 |
|---|---|---|---|
| YEAR BUILT | 1972 | COMMUNITY | Silver Lake - Echo Park |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Central Air, ENERGY STAR Qualified Equipment, Humidity Control |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dryer, Washer |
| AREA | Silver Lake - Echo Park |
| BUYER'S BROKERAGE COMPENSATION | 3.000 % |
| HEAT | Central, ENERGY STAR Qualified Equipment |
| LOT | 0.25 acre(s) |
| LOT DESCRIPTION | Drip Irrigation/Bubblers, Landscaped, Near Park, Near Public Transit, Paved, Street Level |
| LOT DIMENSIONS | 11089 |
| STORIES | 2 |
| UTILITIES | Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected |
| WATER | Public |
TOTAL MONTHLY PAYMENT
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