2424 4TH AVENUE
Offered At $2,250,000
Los Angeles, CA 90018
UNIQUE, RARE opportunity to purchase a beautiful, fully remodeled French Normandy designated as a historical cultural monument in the highly desirable West Adams district of Jefferson Park in Los Angeles, CA. Prospective buyers may purchase the property as four (4) unit multi-family investment or have the option to purchase as four (4) separate condos. Owner is willing to record condo map in escrow (approximate deliverability in mid-July) or release all necessary documents to Buyer to record at their discretion.
The subject property is located on an expansive corner lot and will be delivered completely vacant. Property amenities include a charming courtyard and separate garages in a secure parking lot.
All units have been beautifully remodeled while maintaining the charming
architecture and fixtures of a French Normandy. The property has fully, updated electrical system, copper plumbing throughout, and a complete HVAC system. All units have been updated with brand new appliances including washer/dryer units. The units are also individually metered with a 5th electrical and gas meter for common areas.
Additionally, the property is under contract with The Mills Act. As such, the Buyer will be required to maintain the property to the standards of The Mills Act but will benefit from paying HALF of standard required property taxes .(additional information available upon request).
ANNUAL PROFORMA INCOME: $159,600
PROFORMA GRM: 14.09
Cost/Lot SF: $206.82
All rents and expenses are projected. Buyer shall complete own investigations with regard to property condition, financing, and financial operations. Buyers shall not rely upon Seller or Agent representations but will complete all investigations necessary.
Fully Remodeled French Normandy Property
All 2+1 Units
Located in highly desirable Mid City
Historical cultural monument under The Mills Act