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$2,499,000
126 Days Online

324 W 51st Street
Los Angeles, CA 90037

For Sale|Multi-Family|Active
County:
Los Angeles
Listed by Filip Niculete of Marcus & Millichap

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

Call Now: (866) 538-6057
Is this the home for you? We can help make it yours.
(866) 538-6057
324 W 51St Street324 W 51St Street324 W 51St Street324 W 51St Street
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Monthly Payment (Est.)

$11,401
Calculator powered by Showcase IDX. Copyright ©2023 Information is deemed reliable but not guaranteed.

We are pleased to present this unique investment opportunity to purchase 324 W 51st St, a fully gut-rehabbed property that's about 90 days away from Certificate of Occupancy. Once completed, the property will stand as a "like new", 6-unit property that will produce positive cash flow for an investor with low risk of incurring major capital expenditures that may be prevalent in a property with dated systems. The Sellers are developers by trade and purchased the property in October 2021. When they initially purchased it, the subject property consisted of four (4) large, one-bedroom units. Since then, the Sellers have gut rehabbed all the unit's interiors and converted each of the four (4) previous 1-bedroom units into 3-bedroom units. Two of the rehabbed units have one bathroom, and an extra half bathroom has been added to the other two. They also added two (2) detached, two-bedroom / 1-bathroom ADUs measuring 641.5 SF each, bringing the total unit count to six (6). The completed property will be delivered vacant, which will help to expand the buyer pool to numerous different investor types outside of the typical owner / operator. Transitional housing groups, low-income housing groups, and other investors looking for property to house niche tenants will have the opportunity to acquire a "like new" asset in an area that is largely starved of them, despite its ongoing gentrification due in large part to its proximity to many of the city's major attractions and entertainment centers.

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Listing Snapshot
Price 
$2,499,000
Days Online 
126 Days
Bedrooms 
16
Inside Area (SqFt) 
5,198 sqft
Total Baths 
5
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1264 Acres
Year Built 
1922
MLS Number 
22205791
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 months agoListing updated with changes from the MLS
4 months agoListing first seen online
General Features
Acreage 
0.1264
Zoning 
LARD2
Number of Stories 
0
Listing Conditions 
Standard
Parking Spaces 
0
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Community Features
Senior Community 
No
MLS Area 
C42 - Downtown L.A.
Crmls Logo Real Estate For Sale

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. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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