Exclusive Listings

8-units all 2Bed+1Bath | Low Price per Unit | near Space-X and LAX

Address:
528 W Florence Ave
Los Angeles, CA 90044
Price:
$1,438,000
Status:
Available
Type:
Apartment
# Units:
8
Year Built:
1957
Building Size:
4,834
Lot Size:
6,275
CAP Rate:
4.77%
GRM:
14.15x
Price/Unit:
$180,000
Price/SqFt:
$297

INVESTMENT HIGHLIGHTS         

  • Excellent unit mix of eight (8) 2bedroom + 1bathroom units
  • Located in market with limited inventory, and very high demand for housing
  • Prime repositioning opportunity in gentrifying area of Los Angeles
  • Located on Florence near 110 FWY, easy access to Downtown
  • Short distance to Los Angeles International Airport (LAX) & SpaceX aerospace company
  • Walk Score of 79: Very walkable
  • Large lot size of ±6,275 square feet
  • Individually metered for electricity & gas
  • Located on major thoroughfare, with excellent curb appeal
  • Accessible from street on Florence and alley in rear, ideal for LA traffic
  • Black rod iron gate surrounding the building for added security
  • Nearby to University of Southern California (USC), LA Memorial Coliseum, Los Angeles Rams NFL stadium & Iconic Los Angeles Forum and entertainment venue
  • Close to new Vermont Manchester Project: A 180-unit housing, public school, transit plaza and bus transfer center mixed use project

 

PROPERTY HIGHLIGHTS

  • Attractive unit mix with 100% 2bed+1bath units
  • Value Add opportunity with significant rental upside
  • Nearby to many amenities such as: LA Memorial Coliseum, The Forum, Rams NFL stadium, Banc of California Stadium and more.
  • Attractive curb appeal with excellent street visibility
  • Open parking spaces with no retrofit for tuck under parking
  • Large lot size of ±6,275 Sq. Ft.
  • 79 Walk Score
  • Close to LAX & SpaceX
  • Superb freeway access: 110, 105 & 405 freeway’s
  • Excellent location in one of Los Angeles’s fastest growing submarkets
  • Separately metered for electricity and gas
  • Very short distance from Downtown Los Angeles and everything L.A. has to offer
  • Nearby to many schools: Elementary – Universities


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 528 west Florence avenue, an 8-unit apartment property comprised of one (1) two-story building located in the highly desirable city of Los Angeles, California. This value-add opportunity is perfect for an investor looking to acquire an apartment property and maximize its income potential. Situated in the south LA sub-market of L.A., the investment maintains excellent proximity to Downtown Los Angeles as well as enjoying the benefits of a rapidly improving area with limited inventory. The property has excellent curb-appeal with black rod iron fencing and good street visibility on Florence avenue. The property sits on a large ±6,275 square foot lot on Florence avenue nearby to Figueroa street a few blocks from 110 freeway.

The building offers an attractive repositioning opportunity with many units rented currently well below market. Being strategically located in Los Angeles, this investment attracts interested prospects who wish to be close to many jobs opportunities in the central business district of Downtown L.A. while maintaining a manageable distance to other amenities nearby such as the new Rams NFL stadium, the iconic Forum, beach cities and LAX.

 

LOCATION AMENITIES AND ACCESS

The property is located in the prestigious city of Los Angeles with all of its appropriate amenities, suitable dining and fashionable shopping. The property is situated on Florence Avenue, in between Figueroa street and Vermont Avenue a few blocks west of the 110.  Being in south LA the neighborhood has a long and rich history in Los Angeles.

Vermont Knolls a 1.14-square-mile neighborhood. The neighborhood is bound by Florence Avenue on the north, the 110 Freeway on the east, Manchester Boulevard or the Los Angeles city limits on the south and Normandie Avenue on the west. In February 1937, George Pepperdine founded Pepperdine University as a Christian liberal arts college in the Vermont Knolls neighborhood of Los Angeles. On September 21, 1937, 167 new students from 22 different states and two other countries entered classes on a newly built campus on 34 acres at West 79th Street and South Vermont Avenue. Pepperdine University moved to a new and larger campus in Malibu, California in September 1972. The old campus was sold to the Crenshaw Christian Center, whose minister, Frederick K.C. Price, then oversaw construction of the "FaithDome", a $9-million geodesic structure with seating for 10,145 worshipers. When it opened in 1989, it was the largest church in the nation.


Due Diligence


Broker Contact

Matthew Guerra
Direct: 626.898.9740
mguerra@growthinvestmentgroup.com


Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2018 GIG Real Estate, Inc. dba. Growth Investment Group - Corp. ID 02021933
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