1408 Armadale Ave, Los Angeles, CA 90042

Property Description

For the first time on the market in 18 Years, 1408 Armadale Ave, offers investors an opportunity to add substantial value with 270% upside potential. (7) of the 8 units are studios and (1) unit is a 1 Bedroom. The Armadale Apartments are built in 1949, have a total square footage of 3,600SF, are situated on an expansive lot size of 7,175, and zoned (Q)C4-1XL, with plenty of parking available for tenants. The property provides an opportunity to construct an ADU at the rear of the lot buyer to verify. Strategically located one parcel north of famous York Blvd, the property is nestled between, arguably, the best sub-markets of NELA (Eagle Rock & Highland Park), with direct access to York retail corridor which provides countless eateries, trendy bars, retail, and coffee shops, and not to mention a stone throw away from Occidental College. Considered "Very Walkable" with an (81) walk-score, where most errands can be accomplished on foot. This rare opportunity is poised for an investor looking to capture strong market returns on a supply-constrained product in a booming area where prices have appreciated Year-over-Year. Seller Carry Financing Will be Considered. Disclosure: Buyer to conduct any/all due diligence including but not limited to the square footage, lot size, zoning, and the ability to construct an ADU. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.