2434 W Ave 32, Los Angeles, CA 90065

Property Description

Great opportunity to purchase a well-maintained apartment complex in a rapidly gentrifying portion of NELA, Glassell Park. Rare 38,500 Sq Ft lot with ingress/egress from Ave 32 and Verdugo Place that affords an investor many options: 1) SUBDIVIDE the property into (7) 5,000 SF R2 duplex lots (14 units) 2) REDEVELOP the upper portion of the lot into multiple units. 3) REPOSITION asset by increasing the current rents by 30-40%. The current unit mix is comprised of: one 2BR/2BA, one 2BR/1BA and six 1BR/1BA units, each with their own parking spaces on a courtyard setting. At the upper end of the lot, separated from the apartments, is a private and spacious 4BR/3BA single family home with separate street entrance- perfect for an owner-user! Centrally located in Mount Washington with convenient access to freeways, restaurants, shops, and just minutes to Los Angeles Downtown, Glendale & Pasadena. Offering Memorandum available upon request.