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

Bedrooms

3

Building size

2,050 sqft

Lot size

5,513 sqft

Year built

1926

Stories

1

Heating

Wall Furnace

Status

Active

Days on market

8

MLS #

244717710

About this property

Optimized Triplex in LA's high-demand Florence neighborhood, offering a rare mix of strong day-1 cash flow and explosive, entitlement-backed development potential. Situated on a 5,513 SF LAR2 lot, the property features 2 distinct structures totaling 3 units: a detached front bungalow (2BR/1BA) and a rear duplex, operating at a strong 6% Cap Rate. What sets this asset apart is its stacked development profile: TOC Tier 2 status, an AB 2097 zone (eliminating minimum parking requirements), a Transit Priority Area, and an AB 2334 Very Low Vehicle Travel Area. Featuring eligibility flags for SB 9, ED 1, and the Citywide Adaptive Reuse Program, an incoming operator has multiple paths to add massive density. Use the expansive rear yard to build detached, non-RSO market-rate ADUs/JADUs to radically lift the rent roll. Perfect for value-add investors.

Location

223 E 74th Street

Los Angeles, Los Angeles, CA, 90003