CA > Los Angeles
Los Angeles, CA 90011,212 E 29th ST
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Los Angeles, CA 90011,212 E 29th ST
Los Angeles, CA 90011,212 E 29th ST
Los Angeles, CA 90011,212 E 29th ST
Los Angeles, CA 90011,212 E 29th ST
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Jenna Christensen

Jenna Christensen

+1(310) 920-9387
$ 2,895,000
Est. payment /mo
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212 E 29th ST Los Angeles, CA 90011

20 Beds

21 Baths

7,918 SqFt

UPDATED:

11/18/2024 04:44 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,918 sqft

Price per Sqft $365

MLS Listing ID 24463491

Bedrooms 20

HOA Y/N No

Year Built 2024

Lot Size 6,250 Sqft

Property Description

Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LARD1.5

Interior

Heating Central

Cooling Central Air

Flooring Laminate

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer

Exterior

Garage Door-Multi, Door-Single, Garage, Gated, Tandem

Garage Spaces 7.0

Carport Spaces 2

Garage Description 7.0

View Y/N Yes

View City Lights

Parking Type Door-Multi, Door-Single, Garage, Gated, Tandem

Total Parking Spaces 9

Building

Story 3

Entry Level Multi/Split

Sewer Other

Level or Stories Multi/Split

New Construction Yes

Others

Senior Community No

Tax ID 5128004010

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Michael Fitzgerald • Power Brokers

Jenna Christensen

Advisor Partner | License ID: 01341901

+1(310) 920-9387

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212 E 29th ST