212 E 29Th Street
Los Angeles, CA 90011
Active for $2,895,000
Beds: 20 Baths: 21 Structure Size: 7,918 sqft Lot Size: 6,252 sqft
| MLS | 24463491 |
| Year Built | 2024 |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $2,895,000 |
| Structure Size | 7,918 sqft |
| Lot Size | 6,252 sqft |
| Beds | 20 |
| Baths | 21 |
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!
Listing information courtesy of: Michael Fitzgerald, Power Brokers 310-793-6136. *Based on information from the Association of REALTORS/Multiple Listing as of 12/28/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Hamlet Danielyan
REALTOR®
Direct: 818.355.4253
Email: Email Me
DRE: 01918170
DRE #01873088
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