Description for
2233 Riverdale AvenueLos Angeles, CA 90031
Introducing 2233 Riverdale Avenue - a prime 8-unit multifamily investment opportunity in the heart of Los Angeles! Nestled in Frogtown, around the corner from Silver Lake, this remarkable building is poised to deliver immediate returns for the savvy investor. The property has undergone a comprehensive renovation (including new electrical systems, plumbing, and roof) and now offers the perfect blend of modern comfort and unmatched location.Each of the eight units offers an inviting and comfortable living space, appealing to a wide range of tenants. The thoughtfully designed floor plans provide an efficient use of space for residents to relax and unwind. The modern finishes incorporated into each unit contribute to an elevated living experience, ensuring high tenant satisfaction and long-term occupancy. Additionally, the property features desirable amenities like secure gated entry and parking, central air conditioning, in-unit laundry, and an electric vehicle charger, further enhancing its appeal and marketability. With an incoming cap rate of nearly 5% and low operating costs bolstered by the recent renovations, buyers can enjoy peace of mind and steady revenue generated by this extremely low-maintenance building. Moreover, with an impending approval for a Tenancy in Common (TIC) structure, the potential for the individual sale of units (like condos) unlocks incredible future value and potential returns! With the demand for housing in Los Angeles higher than ever before, this forthcoming approval makes the property an even more enticing investment.With its strategic location, updated infrastructure, impressive revenue potential, and low-maintenance nature, 2233 Riverdale is poised to deliver exceptional returns for savvy investors. Don't miss out on this chance to acquire a turnkey investment with significant income and upside potential in one of Los Angeles' most desirable areas!
Price
$4,600,000
Los Angeles
6,728 (approx)
PF23113521
Active
Description
Introducing 2233 Riverdale Avenue - a prime 8-unit multifamily investment opportunity in the heart of Los Angeles! Nestled in Frogtown, around the corner from Silver Lake, this remarkable building is poised to deliver immediate returns for the savvy investor. The property has undergone a comprehensive renovation (including new electrical systems, plumbing, and roof) and now offers the perfect blend of modern comfort and unmatched location.Each of the eight units offers an inviting and comfortable living space, appealing to a wide range of tenants. The thoughtfully designed floor plans provide an efficient use of space for residents to relax and unwind. The modern finishes incorporated into each unit contribute to an elevated living experience, ensuring high tenant satisfaction and long-term occupancy. Additionally, the property features desirable amenities like secure gated entry and parking, central air conditioning, in-unit laundry, and an electric vehicle charger, further enhancing its appeal and marketability. With an incoming cap rate of nearly 5% and low operating costs bolstered by the recent renovations, buyers can enjoy peace of mind and steady revenue generated by this extremely low-maintenance building. Moreover, with an impending approval for a Tenancy in Common (TIC) structure, the potential for the individual sale of units (like condos) unlocks incredible future value and potential returns! With the demand for housing in Los Angeles higher than ever before, this forthcoming approval makes the property an even more enticing investment.With its strategic location, updated infrastructure, impressive revenue potential, and low-maintenance nature, 2233 Riverdale is poised to deliver exceptional returns for savvy investors. Don't miss out on this chance to acquire a turnkey investment with significant income and upside potential in one of Los Angeles' most desirable areas!
Listing Information
Property Type: Multi-Family, Business Opportunities, 2 Story
0.25 Acres
Assessor
6,728 (approx)
1972
2
Public
Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
1 Total
Neighborhood
Room Information
Inside,Laundry Closet,Stacked
Interior Features
Dryer,Washer
Central Air, ENERGY STAR Qualified Equipment, Humidity Control
North side of Riverdale Avenue, just east of Riverside Drive
Financial Considerations
5445028052
Cash,Cash to New Loan,Conventional
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California.
Los Angeles, California 90031 has a population of 3,956,168.
The median household income in Los Angeles, California 90031 is
$51,511.
The median household income for the surrounding county is $73,262
compared to the national median of $66,222.
The median age of people living in Los Angeles 90031 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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City
Beds
Baths
Sold Price
Sold Date
No information is available for recently sold properties within this search.