Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
$1,700,000
We are pleased to offer for sale 517 West 117th Street, a six-unit apartment community located in South Los Angeles, alongside the 105 Freeway.Built in 2007, the property is comprised of six two-bedroom / one-and-a-half-bath townhome-style units, each featuring in-unit washer/dryer hookups (one unit includes a washer/dryer) and assigned, gated… Read More parking. Situated on a generous 15,311-square-foot lot, the property is improved with a 5,208-square-foot building, leaving substantial excess land that may offer additional development potential. One option may be to add six ADUs, offering an opportunity to expand density, income, and long-term value.Beyond the existing improvements, the property's C2-2D-CPIO zoning and Tier 4 TOC designation present significant redevelopment potential. Based on the 15,311 SF lot, the property may support over 70 units by right without the use of ED1 offering a compelling long-term development opportunity.517 West 117th Street offers investors the opportunity to acquire a newer construction multifamily asset with the potential to increase density in a well-located infill pocket of South Los Angeles. The property provides immediate access to the 105 Freeway and is conveniently situated near a wide range of retail amenities and daily services.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
12
Square Ft.
5,208
Lot Size
0.35 Acres
Year Built
2007
MLS Number
26840523
Additional Details
Building
Built in 2007, Living area: 5208.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $177,408, Net Operating Income: $109,535
Lot
0.3515 acres
Parking
12 total parking spaces, Uncovered
Taxes
Parcel Number: 6088013024, Zoning: C2-2D-CPIO
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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