10
See all 10 photos
$1,499,000
Est. payment /mo
9 Beds
5 Baths
2,550 SqFt
New
2819 3rd AVE Los Angeles, CA 90018
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,550 sqft
Price per Sqft $587
MLS Listing ID 26885929
Bedrooms 9
HOA Y/N No
Year Built 1925
Lot Size 5,823 Sqft
Property Description
Approx. 6.7% Market Cap Rate! Current gross rental income of approximately $10,400 per month. Fully occupied. Turnkey. Rare opportunity to acquire a pride-of-ownership 5-unit multifamily investment in the highly desirable Jefferson Park / West Adams neighborhood. Properties offering this combination of current income, major capital improvements, and remaining upside are increasingly difficult to find in Los Angeles.The property features four charming bungalow-style residences PLUS a newly built detached permitted 2-bedroom/1-bath ADU (2022) with its own Certificate of Occupancy. Three residences have been renovated into desirable 2-bedroom/1-bath homes, while one updated 1-bedroom/1-bath residence offers additional value-add potential through a future conversion to a 2-bedroom floor plan (buyer to verify). Three units are currently occupied under month-to-month tenancies, providing additional operational flexibility for the next owner.Major capital improvements completed within the past five years include updated PEX water supply lines, a trenchless CIPP-lined main sewer line, significant electrical and roof improvements, and the ground-up construction of the detached ADU. Each residence features its own in-unit washer and dryer, mini-split A/C, updated kitchen and bathroom, dual-pane windows, modern finishes, and access to four gated off-street parking spaces. Professionally fumigated in 2023 and recently passed the City's required inspections, the property has been proactively maintained and is ready for its next owner.Ideally located minutes from Culver City, USC, Downtown Los Angeles, the Expo Line, restaurants, shopping, and major employment centers, this is an exceptional opportunity for investors and 1031 exchange buyers seeking immediate income with meaningful long-term appreciation potential in one of Los Angeles's most desirable rental neighborhoods. Buyer to independently verify all information.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD3
Interior
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer
Exterior
Parking Features Assigned
Total Parking Spaces 4
Building
Entry Level One
Architectural Style Modern
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5052003006
Special Listing Condition Standard
Listed by Lorena Alvarado Luxury Collective #02023071
Nearby Locations
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