1201 59th Place, Los Angeles, CA 90001
  • MLS#: DW24215271 ( Apartment )
  • Street Address: 1201 59th Place
  • Viewed: 2
  • Price: $3,795,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2024
  • Bldg sqft: 0
  • Days On Market: 31
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90001
  • Provided by: VIP Real Estate Firm
  • Contact: Daniel Daniel
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in todays market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor; why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence Graham district, check it out before is gone!
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Features
Building Area Total
  1. 10100.00
Commoninterest
  1. None
Common Walls
  1. 1 Common Wall
Cooling
  1. Central Air
Country
  1. US
Days On Market
  1. 21
Entry Location
  1. front
Garage Spaces
  1. 12.00
Heating
  1. Central
Insurance Expense
  1. 0.00
Laundry Features
  1. Individual Room
Levels
  1. Two
Lockboxtype
  1. Combo
Lot Features
  1. 0-1 Unit/Acre
Netoperatingincome
  1. 0.00
Parcel Number
  1. 6008008031
Pool Features
  1. None
Postalcodeplus4
  1. 1115
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 425404272:CRM
Totalexpenses
  1. 0.00
Trash Expense
  1. 0.00
Water Source
  1. Public
Year Built
  1. 2024
Year Built Source
  1. Seller
Zoning
  1. LCR3YY