221 S Avenue 19
Los Angeles, CA, 90031 $ 2,350,000
Bedrooms9 Baths8.0 Sq 4,130 Monthly Estimate*
$ 16,415
Listed by Lyon Stahl Investment Real Estate, Inc.
for $2,350,000 with 9 bedrooms and 8 full baths. This 4,130 square foot home was built in 1923 on a lot size of 0.2285.
We are pleased to present 221 S Avenue 19 Apartments: an eight (8) +1 partially permitted private suite multifamily investment located in the heart of the Lincoln Heights submarket of Los Angeles. The property also includes Ready-To-Issue Permits for the construction of two ADU units consisting of two Studio units that will be situated near the rear of the large 9,952 SF lot zoned LA-R1.5. These three, single story, wood frame stucco buildings were built in 1923, 1924, and 1925and consist of 4,130 SF of living area with eight (8) on-site parking spaces. In addition to the 4,130 SF of living area, the ADU additions will add an additional 800 SF of living area to the property when completed. The front Two Bedroom unit was recently subdivided into one(1) Studio suite unit and (1) 1 Bedroom / 1 Bathroom unit with partial permits from the city of Los Angeles (Buyer to verify and complete all due diligence as to the legality of said partial permit | Ask Listing Agent for details regarding this new private suite and permits in place).The property currently features seven (7) One Bedroom | One Bathroom units, one (1) Two Bedroom | one Bathroom unit, and one (1) Studio Suite style unit (Buyer to verify and complete all due diligence as to the legality of said permit). The 2 Bedroom unit has undergone extensive renovations in addition to the new added Studio Suite. The additional 1 bedroom units have undergone extensive rehab including, but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been updated with new plumbing and upgraded electrical systems. A new owner will benefit from the immediate upside that will be provided by completing the RTI ready ADUs to the property. All of the heavy lifting and costs associated with the City of Los Angles and been completed, and a new owner can potentially break ground shortly after the close of escrow. An investor will also benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow.
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FeaturesGeneralHeating WallFurnace
Zoning LARD1.5
Year Built 1923
Stories 1
Levels One
Gross Income 192663.0
County Los Angeles
Net Operating Income 129175.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Other Structures Sheds
Special Listing Conditions Standard
Status Active
Directions The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd.
City Los Angeles
Disclosures RentControl
View Y/N N
Senior Community Y/N N
Total Units 8
MLS Area 677 - Lincoln Hts
Lot Size Square Feet 9953.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Avenue 19
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 186
Standard Status Active
Year Built Source Assessor
Cap Rate 5.5
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ExteriorParking Features Driveway Uncovered
Total Parking 8.0
Lot Size Area 9953.0
Number of Buildings 3
Spa N
Building Area Total 4130.0
Lot Size Acres 0.2285
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Total Bedrooms 9
Electric On Property Y/N N
Total Baths 8
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* Excluded FeaturesList ByLyon Stahl Investment Real Estate, Inc.Broker
Affordability Calculator
- Monthly Principal & Interest
- $16,415
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,994,800
Percent of Sale Price 15%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
10/13/2023 | $2,350,000 | | Listed Price |