247 W Florence,Los Angeles, CA 90003
Los Angeles, CA 90003
Description
247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $128,125 per unit and $159 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.21% cap rate and 8.56 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.
Details
| MLS # | SB26085337 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1919 |
| Days On Site | 123 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Aaron Jacobson |
Features
| SQ Feet | 6,410 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Acreage | 0.14 |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Suburban, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90003 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90003) | |
Price: $1,025,000 low | high Med: $959,500 sqft: 6,410 low | high Med: 2,883 $ / sqft: $160 low | high Med: $478 On site: 123 low | high Med: 181.5 | |
Market Activity 90003
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90003 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90003) | |
Price: $1,025,000 low | high Med: $959,500 sqft: 6,410 low | high Med: 2,883 $ / sqft: $160 low | high Med: $478 On site: 123 low | high Med: 181.5 | |
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