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Distressed Sale - 6 Units Jefferson Park 2942 Edgehill Dr 6 Unit Apartment Building $650,000 ($108,333/Unit) Los Angeles, CA 90018
Investment Highlights
- Over 9,000 SF lot with RD1.5 zoning
- Pride-of-ownership Mid City community of Jefferson Park
- Extremely below market rents
- 0.8 mile from Expo/Crenshaw metro station
- Garages offer potential to develop up to 2 ADU's
- Motivated seller
Executive Summary
Darin Spillman, as exclusive listing agent, is pleased to present a 6 unit apartment building near Crenshaw & Adams in a pride-of-ownership neighborhood, with proximity to West Adams, Crenshaw, Jefferson Blvd.'s, the West Side, Mid City, and Downtown Los Angeles.
There are two 2 bed 1 bath units, four 1 bed 1 bath units and 8 parking spaces including garages for 6 cars, providing an opportunity to develop ADU's (Buyer to verify).
A new roof was installed in 2023. Property has original plumbing and electric, and insurance carrier wants upgraded electrical panel and subpanels.
Cash offers are encouraged. Long term tenants under rent control. Tenants will not accept cash for keys. Seller will not carry financing. Preferred method of contact with listing agent is via email.
There are two 2 bed 1 bath units, four 1 bed 1 bath units and 8 parking spaces including garages for 6 cars, providing an opportunity to develop ADU's (Buyer to verify).
A new roof was installed in 2023. Property has original plumbing and electric, and insurance carrier wants upgraded electrical panel and subpanels.
Cash offers are encouraged. Long term tenants under rent control. Tenants will not accept cash for keys. Seller will not carry financing. Preferred method of contact with listing agent is via email.
Property Facts
| Price | $650,000 | Building Class | C |
| Price Per Unit | $108,333 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 3,709 SF |
| Gross Rent Multiplier | 19.79 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1953 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 - Restricted Density Multiple | ||
| Price | $650,000 |
| Price Per Unit | $108,333 |
| Sale Type | Investment |
| Gross Rent Multiplier | 19.79 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,709 SF |
| No. Stories | 2 |
| Year Built | 1953 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - Restricted Density Multiple |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 618 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5051-024-020 | Improvements Assessment | $67,393 |
| Land Assessment | $32,820 | Total Assessment | $100,213 |
Property Taxes
Parcel Number
5051-024-020
Land Assessment
$32,820
Improvements Assessment
$67,393
Total Assessment
$100,213
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Distressed Sale - 6 Units Jefferson Park | 2942 Edgehill Dr
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