CA > Los Angeles
Los Angeles, CA 90011,212 E 29th St
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Los Angeles, CA 90011,212 E 29th St
Los Angeles, CA 90011,212 E 29th St
Los Angeles, CA 90011,212 E 29th St
Los Angeles, CA 90011,212 E 29th St
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Andrew Rhoda

Andrew Rhoda

+1(310) 295-7596
$ 2,895,000
Est. payment /mo
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212 E 29th St Los Angeles, CA 90011

20 Beds

21 Baths

7,918 SqFt

UPDATED:

11/26/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,918 sqft

Price per Sqft $365

MLS Listing ID 24-463491

Bedrooms 20

Construction Status New Construction

Year Built 2024

Lot Size 6,252 Sqft

Acres 0.1435

Property Description

Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Flooring Laminate

Equipment Dishwasher, Garbage Disposal, Gas Dryer Hookup, Range/Oven, Refrigerator, Solar Panels, Washer, Dryer

Laundry In Unit

Exterior

Parking Features Tandem, Gated, Garage - 1 Car, Garage - 2 Car

Garage Spaces 9.0

View Y/N Yes

View City, City Lights, Skyline

Building

Story 3

Sewer In Street

Water Public

Level or Stories Multi/Split

Construction Status New Construction

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Power Brokers

Andrew Rhoda

Agent | License ID: 01879250

+1(310) 295-7596

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212 E 29th St