2323 Florencita Ave, Montrose, CA 91020

Property Description

We are pleased to present 2323 Florencita Ave, a six-unit multifamily property located in the highly coveted city of Montrose, adjacent to both La Crescenta and La Canada Flintridge. Offered for sale for the first time in almost 40 years, this property represents a rare investment opportunity in Montrose where multifamily properties rarely transact. This property is an ideal choice for investors seeking property in an unparalleled location with the opportunity to capture over 54% rental upside. Constructed in 1985, this two-story property spans 5,256 square feet and is comprised of six 2-bedroom/1-bathroom units. These spacious floor plans are suitable for family living, and all units have been renovated at different dates. Each unit is also equipped with central HVAC and separate meters for gas and electricity. All units have private patios and balconies with one unit on the second floor having a very large patio. There are 12 on-site parking spaces split between car port and tuck-under parking, on-site laundry room, and private storage cabinets. The property sits on a 9,094 square foot lot and is zoned LCR3.Situated north of Honolulu Avenue and west of Ocean View Blvd, 2323 Florencita Avenue is conveniently located within minutes from the 210 and 2 Freeways, offering commuters ease of access throughout Los Angeles County. Moreover, and most importantly, the property is one block from Montrose Village Square along Honolulu Boulevard. This area is Montrose's historic Main St. with over 200 independently owned local businesses that offer shoppers high quality gifts, retail merchandise, casual and fine dining, coffee shops, and much more. The property's proximity to Village Square ensures a high demand for rental units in one of the most sought-after neighborhoods to live and raise a family in Los Angeles County.