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Shawn Luong
Mobile Phone:
626-643-7090
reoagent@shawnluong.com

DRE# 00857818
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Shawn Luong
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Mobile Phone:
626-643-7090
reoagent@
shawnluong.com

DRE# 00857818
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434 E Adams Boulevard,  Los Angeles CA, 90011 (Residential Income)

Status: Sold
MLS#: CV19027452
1of
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Last Updated: 6/24/2019 3:19 PM
Description for 434 E Adams Boulevard Los Angeles, CA 90011
Solid and easy to manage bread and butter rentals with long-term tenants located in Downtown LA and less than 1.5 mi from USC. The lot is zoned RD1.5 and the property is located in an Opportunity Zone which allows disappearance of capital gains if hold 10+ years and 15% discount on the capital gains used for acquisition. The zoning allows for 5 small-lot home development with TOC Tier 3 density bonus. The front building has 4 units, with 2 upstairs and 2 downstairs units. The downstairs units are large one-bedroom with living room and formal dining room and are a similar size with the upstairs 2-bedroom units, thus can be applied for a conversion to a 2-bedroom. The back building is a 3-bedroom house with 2 full bathrooms, currently used as a 5-bedroom house. Four units have been recently updated with laminate wood floor and one unit has its original wood floor refinished. New paint in most units. Two units have new kitchen cabinets less than one-year-old. This property has tremendous upward potential for the right new owner.
Price
Sold Price:
$925,000
Sold Date:05/17/2019
Los Angeles
CV19027452
Closed
Description
Solid and easy to manage bread and butter rentals with long-term tenants located in Downtown LA and less than 1.5 mi from USC. The lot is zoned RD1.5 and the property is located in an Opportunity Zone which allows disappearance of capital gains if hold 10+ years and 15% discount on the capital gains used for acquisition. The zoning allows for 5 small-lot home development with TOC Tier 3 density bonus. The front building has 4 units, with 2 upstairs and 2 downstairs units. The downstairs units are large one-bedroom with living room and formal dining room and are a similar size with the upstairs 2-bedroom units, thus can be applied for a conversion to a 2-bedroom. The back building is a 3-bedroom house with 2 full bathrooms, currently used as a 5-bedroom house. Four units have been recently updated with laminate wood floor and one unit has its original wood floor refinished. New paint in most units. Two units have new kitchen cabinets less than one-year-old. This property has tremendous upward potential for the right new owner.
Listing Information
Property Type: Cluster, 2 Story
0.18 Acres 7,858 sq.ft. $164.94
1902 2
Frame, Stucco
Pillars/Post
5 Total
Neighborhood
Room Information
No Laundry Facility
Interior Features
Full Copper Plumbing
Window Bars,
Granite Counter Top
Exterior / Lot Features
Stucco, Frame
None
No Pool
50 X 157
LARD1.5
Sidewalks, Courtyard, Curbs Walk, Urban
Driving Directions
East of Maple, West of San Pedro
Financial Considerations
5128010008
$69,808 Income ,$20,560Expense
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90011 has a population of 3,971,883.

The median household income in Los Angeles, California 90011 is $29,889. The median household income for the surrounding county is $55,870 compared to the national median of $53,482. The median age of people living in Los Angeles 90011 is 35 years.

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Courtesy: SHAWN LUONG - CENTURY 21 MASTERS
Licensed in: DRE# 00857818
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