Homes for sale - 1201 E 59th PL, Los Angeles, CA 90001

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$3,795,000

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0.26 Acres Lot

Active

1201 E 59th PL Los Angeles, CA 90001

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Ryan Mills

ryan@ryanamills.com +1(805) 491-4611

UPDATED:

12/19/2024 05:50 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID DW24215271

HOA Y/N No

Year Built 2024

Lot Size 0.257 Acres

Property Description

Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro-forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in today's market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor; why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!

Location

State CA

County Los Angeles

Area C37 - Metropolitan South

Zoning LCR3YY

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Laundry Room

Exterior

Garage Spaces 12.0

Garage Description 12.0

Pool None

Community Features Sidewalks

Total Parking Spaces 16

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction Yes

Others

Senior Community No

Tax ID 6008008031

Acceptable Financing Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange

Special Listing Condition Standard

Listed by Daniel Terrazas • VIP Real Estate Firm • 310-730-9489

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Ryan Mills

REALTOR® | License ID: 01434392

+1(805) 491-4611

1201 E 59th PL Los Angeles, CA 90001

Ryan Mills

Key Details

Location

Interior

Exterior

Building

Others

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1201 E 59th PL