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3109 George Street

Los Angeles CA 90031

4
4
5
2704 sq. ft.
9000 sq. ft.
Other
Currently for sale - view listing

Overview

Marcus & Millichap presents 3109 George Street, a four-unit multifamily investment opportunity located in Lincoln Heights, one of Los Angeles' most historic and rapidly evolving neighborhoods. The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities. The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over.3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station.With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.

Features

4 bedrooms
4 bathrooms
5 carspaces
5 open car spaces
2704 sq. ft. floor area
9000 sq. ft. lot size
Other

Happy sellers in Los Angeles

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Local market activity for 4 bedroom other properties in Los Angeles

In the last 12 months, 3 four-bedroom other properties similar to 3109 George Street, have been sold.

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(619) 566-0008
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