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$1,200,000
Est. payment /mo
7,152 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 7,152 sqft
Price per Sqft $167
MLS Listing ID 25612597
HOA Y/N No
Year Built 1965
Lot Size 9,500 Sqft
Property Description
The property for sale is a 8-unit apartment complex located at 2325 S Ridgeley Dr, Los Angeles CA 90016. The 7,152 square foot two story apartment was built in 1965 and is situated over a 9,500 square foot lot & is zoned LARD1.5. The eight-unit apartment consists entirely of 2 bedroom / 1 bathroom units. There are 7 on-site parking spots located at the back of the property. The property has approximately 42% remaining rental upside through unit renovations. A savvy investor can also take advantage of higher potential rents by renting to Section 8 tenants which pay higher than current market rents for Mid-City 90019 zip code. The Housing Authority of the City of Los Angeles (HACLA) voucher payment standards pays up to $2,887for 2 bedroom units. There are multiple developments that are currently underway in Mid-City and in planning stages. Mid-City is centrally located, offering unparalleled convenience in one of LA's most desirable areas. The property is near a number of restaurants, cafes, bars, grocery stores, shopping centers and spiritual centers. Mid-City is a diverse community that is being gentrified in a quiet neighborhood in the center of Los Angeles. The sub-market witnessed a relatively strong renter demand for 490 units during the past 12 months, compared to the five-year average annual renter demand for 370 units.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5063023008
Special Listing Condition Standard
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Listed by Meir Frydman Keller Williams Los Angeles
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