3109 George Street,Los Angeles, CA 90031
Los Angeles, CA 90031
Description
Marcus & Millichap presents 3109 George Street, a four-unit multifamily investment opportunity located in Lincoln Heights, one of Los Angeles' most historic and rapidly evolving neighborhoods. The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities. The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over.3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station.With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.
Details
| MLS # | 26863525 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1923 |
| Days On Site | 28 |
| Listing Provided By | Marcus & Millichap | Sevak Keshishian |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 2,704 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Zoning | LARD3 |
| Acreage | 0.21 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Refrigerator |
Parking
| Parking Features | Private, Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90031 |
| Area | 677 Lincoln Hts |
| Listing VS Median (in 90031) | |
Price: $500,000 low | high Med: $1,162,500 sqft: 2,704 low | high Med: 2,717 $ / sqft: $185 low | high Med: $428 On site: 28 low | high Med: 185.5 | |
Market Activity 90031
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90031 |
| Area | 677 Lincoln Hts |
| Listing VS Median (in 90031) | |
Price: $500,000 low | high Med: $1,162,500 sqft: 2,704 low | high Med: 2,717 $ / sqft: $185 low | high Med: $428 On site: 28 low | high Med: 185.5 | |
