2422 W Florence Avenue
Los Angeles, CA 90043
- – beds
- – baths
- – sqft
- 5,744 sqft lot
- 1955 build
- – on site
DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.
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Last updated Nov 22, 2024
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MLS# 24430687 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1955
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:1066.00
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Total Number Of Units:2
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# of Buildings:1
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Architectural Style:See Remarks
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Roof:Composition, Shingle
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Stories Total:1
Interior
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Levels:One
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Fireplace:No
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Fireplace:None
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Laundry:Washer Included, Dryer Included
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Laundry:1
Financial & Terms
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Disclosures:Property Report, Easements
Location
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Directions:West of Crenshaw Blvd., East of Van Ness Ave. South of Hyde Park Blvd., North of Manchester Ave.
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Latitude:33.97429800
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Longitude:-118.32074600
The Property
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Property Type:Residential Income
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Zoning:LAC2
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Lot Size Area:5744.0000
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Lot Size Acres:0.1319
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Lot Size SqFt:5744.00
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Lot Size Source:Assessor
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View:None
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Security Features:Gated Community
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Additional Parcels:No
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Other Structures:Shed(s)
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4009002007
Heating & Cooling
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Heating:1
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Heating:Central
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Cooling:No
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Cooling:None
Utilities
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Sewer:Other
Appliances
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Appliances:Range
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Included:Yes
The Community
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:No
Parking
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Parking:Yes
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Parking:Gated
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Parking Spaces:10.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/22/24
Nov 22, 2024
|
Price Changed | CRMLS_CA | $698,000 | -0.1% |
|
10/10/24
Oct 10, 2024
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Price Changed | CRMLS_CA | $699,000 | -12.5% |
|
8/22/24
Aug 22, 2024
|
Listed / Active | CRMLS_CA | $799,000 |
