Additional details

Paul Ward

somis@homeandranchsellingteam.com +1(805) 479-5004

$699,000

Est. payment - /mo

3 Beds

3 Baths

1,557 SqFt

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OPEN HOUSE

Sun Feb 02, 3:00pm - 5:00pm

UPDATED:

01/30/2025 02:54 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,557 sqft

Price per Sqft $448

MLS Listing ID 25486931

Bedrooms 3

HOA Y/N No

Year Built 1904

Lot Size 6,250 Sqft

Property Description

Welcome to the TWIN PALMS TRIPLEX near the Historic Central Ave District! AMAZING investment opportunity to own a charming, corner-lot property with tremendous upside income potential. Live in one unit and rent out the other two to pay your mortgage! Classic details and sunlit spaces highlight this turn-of-the-century Craftsman property which boasts many updates - NEW paint, ceiling fans, laminate flooring, recessed lighting, double pane windows, new landscaping for Unit #1 and updated Kitchens and Baths. The Main House has two (2) units with covered porches - UNIT #1 is a 1BR/1BA plus a BONUS DEN (est. 628SF +/-) and UNIT #2 is a Studio with 1BA (est. 628SF +/-) and has its own laundry. The detached Studio Garage Unit #3 with 1 BA is est. 300SF +/-. There are 3 Electric meters / 3 Gas meters / 3 Water Heater units. The XL Backyard is fully-fenced with mature, enveloping trees and currently used for ample parking. Unit #1 has its own separate yard spaces with a new DG covering, landscaping and a thriving Banana tree. Tons of potential to create separate yard spaces for the other two units, dedicated parking spaces and/or a large, landscaped patio. Big enough for RV parking, multiple cars and/or build a workshop. The beautiful, mature twin palms in the front yard are some of the tallest palms in the area and can be seen for miles swaying in the LA skyline. The area has a vibrant cultural, social and entertainment history and is home to the yearly famed Central Ave Jazz festival. Centrally located near restaurants, shopping, major freeways, USC, DTLA and public transportation. DELIVERED COMPLETELY VACANT so you can set the rent to the current market value. Very rare! If you're looking for a smart investment opportunity with a good Cap Rate, then this is your perfect chance.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR2

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Flooring Laminate

Fireplace No

Appliance Microwave, Refrigerator

Exterior

Parking Features Gated, Oversized, RV Potential, Uncovered

View Y/N No

View None

Total Parking Spaces 2

Building

Lot Description Back Yard, Front Yard, Lawn, Yard

Story 1

Entry Level One

Sewer Other

Architectural Style Craftsman

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5115022029

Acceptable Financing FHA, VA Loan

Listing Terms FHA, VA Loan

Financing FHA,VA

Special Listing Condition Standard

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Listed by Simone Poingsett • Coldwell Banker Realty

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Paul Ward

+1(805) 479-5004

Agent | License ID: 01354001

Agent License ID: 01354001

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4166 Wadsworth AVE Los Angeles, CA 90011

Paul Ward

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Others

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