Properties
Los Angeles, CA 90031 2614 Griffin Avenue
$3,880,000
13 more
Presented By: ANDY DENG with DENGO INVESTMENT INC.; 626-589-5008
Baths • 1
SQFT • 14,359
Home Details
Don’t miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. Existing assumable loan with an attractive 3% interest rate. Approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Presented By: ANDY DENG with DENGO INVESTMENT INC.; 626-589-5008
Interior Features for 2614 Griffin Avenue
Other Interior Features
Air Conditioning Y/NYes
Common WallsOneCommonWall
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringTile
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories3
Window FeaturesScreens
Other Rooms
Entry Level1
General for 2614 Griffin Avenue
Additional Parcels Y/NNo
AppliancesFreeStandingRange, WaterHeater
Building Area UnitsSquareFeet
Carport Spaces19
Carport Y/NYes
CityLos Angeles
Community FeaturesUrban
CoolingWallWindowUnits
CountyLos Angeles
DirectionsNorth of Broadway
ElectricStandard
Electric Expense50345
Entry LocationGriffin
Fuel Expense
Garage Spaces
Garage Y/NNo
Gross Income354206
HOANo
HOA Fee$
HeatingWallFurnace
Insurance Expense16687
Land Lease Y/NNo
LevelsThreeOrMore
Listing TermsExchange1031
Lot Size Square Feet13455
Lot Size UnitsSquareFeet
MLS Area677 - Lincoln Hts
Net Operating Income177325
New ConstructionNo
Number Of Units Total24
Operating Expense178822
Pool FeaturesNone
PostalCityLOS ANGELES
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofFlat
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot19
Tenant PaysElectricity
Total Actual Rent354206
Trash Expense10799
UtilitiesElectricityConnected, NaturalGasConnected, SewerAvailable, WaterAvailable
ViewNone
Water Sewer Expense0
Year Built1970
Year Built SourcePublicRecords
Exterior for 2614 Griffin Avenue
Building Area Total14359
FencingNone
Lot FeaturesTwentyOneToTwentyFiveUnitsAcre
Lot Size Acres0.3089
Lot Size Area13455
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters25
Number of Separate Gas Meters25
Number of Separate Water Meters1
Parking FeaturesCarport, OneSpace, Uncovered
Private PoolNo
SpaNo
Total Parking19
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
