2215 Florencita Ave, Montrose, CA 91020

Property Description

We are pleased to introduce the sale of 2215 & 2219 Florencita Avenue, a unique and once in a lifetime opportunity to acquire a picturesque multifamily investment property strategically located steps from Montrose Shopping Park. Constructed in 1949 and nestled in one of the most sought-after locations, the offering consists of 12 total units, with (8) units being a desirable single story construction + a courtyard and (4) units located above enclosed garage spaces at the rear of the lot. The structures are situated on two separate parcels, on an expansive lot size of 17,794 Square Feet. The building offers a range of unit combinations which includes Two (2+1)'s, Six (1+1)'s, and Four spacious (Studio +1)'s with W/D in 9 of 12 units. (8) Onsite garage parking spaces are available for tenants as well as abundant uncovered space. The offering allows a variety of holding strategies. Current tenants provide a stable stream of income with minimal operating costs. An investor can take advantage of immediately applying for up to (4) Accessory Dwelling Units that will multiply the gross income stream - Buyer to verify feasibility. Density allowance with a current zoning of LC3YY provides future development potential on the sprawling lot. The investment is located a block from famous Honolulu Avenue, with countless eateries, cafes, and bars. Rated a walk score of "92" the property is considered "Walker's Paradise", where daily errands do not require a car. Walking distance to Black Cow, Basin 141, Avignone's, Blue Fish, Casa Cordoba, Joselitos, Gus & Andy's, and Trader Joe's to name a few. Finally, the property offers tenants top rated school districts in the state and country John C Fremont Elementary, Rosemount Middle School, and Crescenta Valley High School. Please drive by only do not walk on the property or disturb tenants.