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$3,795,000
39 Days On Site

1201 E 59th Place
Los Angeles, CA 90001

For Sale|Multi Family|Active
0
Beds
0
Full Baths
0
Partial Baths
10,100
SqFt
$376
/SqFt
2024
Built
County:
Los Angeles
Listed by Daniel Terrazas of VIP Real Estate Firm [email protected]

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1201 E 59th Place1201 E 59th Place1201 E 59th Place1201 E 59th Place
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Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro-forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in today’s market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor; why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!

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Listing Snapshot
Price 
$3,795,000
Days On Site 
39 Days
Bedrooms 
N/A
Inside Area (SqFt) 
10,100 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.2571 Acres
Year Built 
2024
MLS® Number 
DW24217006
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 days agoStatus changed to Active
3 days agoListing updated with changes from the MLS®
a month agoListing first seen on site
General Features
Acres 
0.2571
Number Of Stories 
2
Property Sub Type 
Multi Family
Special Circumstances 
Standard
SqFt Total 
10100
Water Source 
Public
Interior Features
Cooling 
Central Air
Heating 
Central
Laundry Features 
Laundry Room
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Community Features
Financing Terms Available 
CashConventionalContract1031 Exchange
MLS Area 
C37 - Metropolitan South


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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Address:

EXP REALTY OF SOUTHERN CALIFORNIA, INC. CA DRE#02187306

10620 Treena St, Ste 230
San Diego, CA 92131

Tom Olsewski – DRE#01442461