2422 W Florence Avenue, Los Angeles, CA 90043
-
Listed Price :
$699,000
-
Beds :
5
-
Baths :
2
-
Property Size :
1,066 sqft
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Year Built :
1955
Property Description
DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.
Interior Features
| Bedroom Information |
| Bedrooms |
5 |
| Bathroom Information |
| Features |
Separate Shower |
| Bathrooms |
2 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
2422 W Florence Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90043 |
| County |
Los Angeles |
| Listing Agent |
Stephanie Younger DRE #01365696 |
| Co-Listing Agent |
Robert Lugari DRE #02174891 |
| Courtesy Of |
Compass |
| List Price |
$699,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
1,066 |
| Lot Size |
5,744 |
| Year Built |
1955 |
Listing information courtesy of: Stephanie Younger, Robert Lugari, Compass. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 18th, 2024 at 11:21 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
