This well maintained property is conveniently located in the Florence Firestone neighborhood of unincorporated LA County and is priced to sell with 34 units at GRM 9.73 and cap rate of 6.53%. Expanding on recently implemented RUBS program, strategic renovations, and getting units up to market rent may yield great upside for an astute investor.
This primarily residential neighborhood is bordered to the north by Downtown LA, to the east west by historic downtown Huntington Park, and to the west by Inglewood / South LA. 1141-1147 E Florence Ave is close to Downtown LA (DTLA), LAX, Inglewood, Huntington Park, Vernon, and all of the Gateway Cities. Shopping & entertainment options abound in the area with the historic Huntington Park pedestrian shopping mall on Pacific Boulevard, the Inglewood Rams Stadium redevelopment project, nearby Bicycle Casino, The Forum, & Franklin D Roosevelt Park! Many units have been completely renovated with new faux wood porcelain tiles, two tone paint, kitchen cabinets, vertical blinds, new kitchen appliances, and ceiling fan.
This property is located on Florence Avenue near to schools and nearby lots of local shops and restaurants. The property offers 31 spaces of off street parking, but is also very convenient to public transportation. Catch a bus on Florence or ride a bike to the nearest Blue Line light rail station at Florence & Graham only a 15 minute walking distance from the property.
