Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

8

Building size

6,410 sqft

Lot size

5,969 sqft

Year built

1919

Stories

2

Garage spaces

4

Pool

None

Status

Active

Days on market

182

MLS #

241254466

About this property

247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $128,125 per unit and $159 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.21% cap rate and 8.56 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.

Location

247 W Florence

Los Angeles, Los Angeles, CA, 90003