14
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$1,549,000
Est. payment /mo
7,000 Sqft Lot
New
2853 Buckingham RD Los Angeles, CA 90016
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25095596
HOA Y/N No
Year Built 1930
Lot Size 7,000 Sqft
Property Sub-Type Quadruplex
Property Description
We are proud to present an exceptional Spanish style 4-unit building in the heart of West Adams. Built in 1930, the subject consists of four spacious 2 bedroom / 1 bath units each with Spanish style details and charm, in-unit washer/dryers, and individual water heaters. Located in an opportunity zone which can offer powerful tax incentives for investors. Recent improvements to the well-maintained building include exterior paint, new fencing surrounding the property, main sewer line replacement, roof weather coating, and interior remodeling of 2 units. Highly desirable corner lot at the intersection of Buckingham Rd and 29th St with 4 covered garages, 3 of which are vacant and can either be rented for at least $125 each or can be built into 1 or more ADUs to generate further rental income. With current rental upside of 34%, the building presents an amazing value add opportunity in an unbeatable location close to Downtown LA, the 10 freeway, and the Westside. All units are currently eligible for City of LA 4% annual rent increase, which buyer can implement immediately to bring annual income to $110,719.20 and GRM to 13.9!
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5050012025
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Anie Mayelian • Keller Williams Realty Calabasas • 818-915-9118