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    244 S Avenue 18

    Los Angeles (City), CA 90031
    • $3,895,000
    • STATUS: Active
    • ON SITE: 172 days
    • ID#: 20652078
    UPDATED: 52 min ago
    $3,895,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,958
      SQFT
    • $326
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2016
    County:

    School Ratings & Info

    Description

    We are pleased to present the opportunity to acquire 244 S Avenue 18, a newer constructed SIX TOWNHOME apartment complex located in the heart of Lincoln Heights. This property was built in 2016 and offers 11,958 sq ft of rentable space situated on a 10,000 sq ft parcel. This 6 unit building offers a desirable mix of: six - large 4 bed | 3 bath units, plans are currently in plan check to convert a storage room into 1BD ADU. Currently one unit is leased for $3,750 while the other units are FURNISHED and being leased as short term rentals grossing appx $5,000/mo for each unit. Each unit is separately metered for gas and electric and has its own water heater. Property offer tenants on-site laundry facilities and gated parking. High walkability, just steps from shops, restaurants, schools, library and more. The subject property is conveniently located within close proximity to the 10, 5, and 110 fwy and minutes away from Pasadena, Downtown Los Angeles, Glendale and Hollywood.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-18T18:26:21.843. 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 deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
    www.zemberrealtygroup.com/homes/111399433
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    244 S Avenue 18 Los Angeles (City), CA 90031

    • Price: $3,895,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: 20652078
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    11,958
    SQFT
    $326
    $/SQFT
    2016
    Built
    Neighborhood:
    677 - Lincoln Hts
    County:
    Los Angeles
    Area:
    677 - Lincoln Hts
    Property Description
    We are pleased to present the opportunity to acquire 244 S Avenue 18, a newer constructed SIX TOWNHOME apartment complex located in the heart of Lincoln Heights. This property was built in 2016 and offers 11,958 sq ft of rentable space situated on a 10,000 sq ft parcel. This 6 unit building offers a desirable mix of: six - large 4 bed | 3 bath units, plans are currently in plan check to convert a storage room into 1BD ADU. Currently one unit is leased for $3,750 while the other units are FURNISHED and being leased as short term rentals grossing appx $5,000/mo for each unit. Each unit is separately metered for gas and electric and has its own water heater. Property offer tenants on-site laundry facilities and gated parking. High walkability, just steps from shops, restaurants, schools, library and more. The subject property is conveniently located within close proximity to the 10, 5, and 110 fwy and minutes away from Pasadena, Downtown Los Angeles, Glendale and Hollywood.
    Exterior Features

    Parking Features Controlled EntranceCommunity Structure

    Interior Features

    Appliances DishwasherDisposalMicrowaveRefrigerator Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

    Property Features

    Additional Parcels YN No Buyer Financing Cash Community Features Gated Gross Income 290400 Insurance Expense 1800 Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 14300 Net Operating Income 198488 New Taxes Expense 49238 Operating Expense 2000 Rent Control YN No Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 1200 Water Sewer Expense 2160 Zoning Lard1.5

    Listing provided courtesy of Shawn S. Kormondy of Keller Williams Beverly Hills


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-18T18:26:21.843. 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 deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
     
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    Zember Realty Group
    1125 Linda Vista Dr.
    San Marcos CA, 92078