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247 West Florence Avenue

Los Angeles CA 90003

6
5
3
6410 sq. ft.
5969 sq. ft.
Other
Currently for sale - view listing

Overview

247 W Florence is an 8-unit mixed-use property, offered at 9.90 GRM and 5.27% CAP on current rents, with approx. 67% rental upside. This mixed-use property with tremendous promise consists of (1) 2-bdrm. unit, (4) 1-bdrm. units, and (3) ground-floor commercial units that offer a significant value-add opportunity. 247 W Florence is offered at a 9.90 GRM and 5.27% CAP on current rents, $143,750 per unit, and $179 per foot. A savvy investor can stabilize the property at a 11.08% CAP and 5.90 GRM by achieving market rents for renovated units. This 8-unit mixed-use property resides on a 5,967 SF lot (zoned LAC2) with three gated tandem parking spots. 247 West Florence is minutes from several South LA thoroughfares, including Broadway, Main Street, Manchester Boulevard, and the 110 Freeway. In addition, the property is 3 miles west of Pacific Blvd - the commercial heart of Huntington Park. This listing can be purchased individually or as part of a 5-property South LA portfolio - please contact LA1 for more info.

Features

6 bedrooms
5 bathrooms
3 carspaces
3 open car spaces
6410 sq. ft. floor area
5969 sq. ft. lot size
Other

Happy sellers in Los Angeles

95%
95% of sellers in Los Angeles reported that their sale price either exceeded or met their price expectations.

Los Angeles stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Los Angeles over the last 12 months.

Local market activity for 6 bedroom other properties in Los Angeles

In the last 12 months, 3 six-bedroom other properties similar to 247 West Florence Avenue, have been sold.

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