247 W Florence, Los Angeles, CA 90003
- $1,025,000
- List Price
- $1,025,000
- Price Change
- ▼ $25,000 1783395933
- Status
- ACTIVE
- MLS#
- SB26085337
- Year Built
- 1919
- Lot Size
- 5,969
- Acres
- 0.14
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 97
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $128,125 per unit and $159 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.21% cap rate and 8.56 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.
Additional Information
- Pool Description
- None
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $119,794
- Operating Expense
- 50117
Listing courtesy of Listing Agent: Aaron Jacobson (aaron@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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