2951 Francis Avenue Los Angeles, CA $ 2,650,000
2951 Francis Avenue
$ 2,650,000
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2951 Francis Avenue

Los Angeles, CA, 90005
$ 2,650,000
Bedrooms12 Baths8.0 Sq 5,502

Monthly Estimate*

$ 18,511

Listed by Real Broker
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Multi-Family Home for sale in Los Angeles, CA

for $2,650,000 with 12 bedrooms and 8 full baths. This 5,502 square foot home was built in 1921 on a lot size of 0.155.

REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. SELLER HAS 2 ESTIMATE COST OF CONSTRUCTION AT $160 PER SQ FEET. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. SPRAWLING RESTRANTS NEARBY AND SUPERMARKET, FLOWER SHOP, BUS STOPS, FEW BLOCKS FROM STARBUCKS AND METRO STATION. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,751 square foot parcel, the property is comprised entirely of three-bedroom units. New ownership has the ability to add two accessory dwelling units (ADU's) TOTALLING 1,650 SF., for a two-bedroom and one-bedroom unit. ADU Permits are "RTI" Status. Current Ownership has extensively renovated all units with stainless-steel kitchen appliances, new flooring, in unit washer/dryers, AC systems in each bedroom & more. ALL ROOMS ARE LARGE SIZES. The continued gentrification of the surrounding area along with the rare opportunity to acquire a fully rehabbed, luxury apartment community with a healthy income stream makes 2951 Francis Avenue an excellent acquisition opportunity FOR THOSE WHO ARE LOOKING TO DO 1031 EXCHANGE OR A NEW PURCHASE TO MAKE YOUR $$$ GO FARTHER, CREATING GENERATIONAL WEALTH.

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Multi-Family Active

Price

$ 2,650,000

Bedrooms

12

Full Bath

8

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.155

Year Built

1921

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

24376665

Days on Market

26

Features
General
Heating Combination
Cooling Dual
Appliances Dishwasher Disposal Refrigerator Dryer Washer
Zoning LAR4
Year Built 1921
Stories 1
Levels One
Gross Income 237000.0
County Los Angeles
Net Operating Income 169500.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions South of 8th Street and East of Vermont Aven
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 4
MLS Area C17 - Mid-Wilshire
Lot Size Square Feet 6753.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Francis
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 N
Days on Market 26
Standard Status Active
Cap Rate 5.8
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Exterior
Parking Features Assigned
Total Parking 0.0
Lot Size Area 6753.0
Number of Buildings 1
Spa N
Building Area Total 5502.0
Lot Size Acres 0.155
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 12
Electric On Property Y/N N
Total Baths 8
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Internal Only
Street Number 1 2951
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* Excluded Features
List By
Real Broker

Broker

(213) 434-2433

Phone

Affordability Calculator

$18,511
Per Month
100%
0%
0%
Monthly Principal & Interest
$18,511
Monthly Property Taxes
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Monthly Home Insurance
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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.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/5/2024$2,650,000 Listed Price

Map


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2951 Francis Avenue, Los Angeles, CA, 90005 is a Multi-Family Home for sale at $2,650,000 with 5,502 sqft and a lot size of 0.155. 2951 Francis Avenue has 12 bedrooms, 8.0 baths, and was built in 1921. The property's zip code is 90005 which is in Los Angeles, CA