Lucrum Real Estate Group is proud to present The Jefferson, a value-added multifamily investment opportunity located in Jefferson Park, Los Angeles at 3044 Edgehill Dr. This architecturally charming apartment complex is comprised of (8) spacious apartment units in one two-story building with curb appeal offered at an attractive cost per pound of $205,000 per unit and $216.53 per square foot.
The building construction is of a wood frame with a flat roof and stucco exterior. The development of the building was completed in 1929 and encompassed an impressive ±7,574 building square feet situated on one parcel totaling ±8,005 square feet. Zoning is LARD1.5.
The updated apartment units are large and consist of (8) one-bedroom + one-bath units, offering two points of entry. Each unit is individually metered for gas and electric, along with individual hot water heaters, further lowering utility costs.
In the last several years, the property systems have been upgraded, and the property offers a newer roof and copper plumbing.
The building is accessible from the front of the property off Edgehill Dr., and the property provides 7 onsite parking spaces that have yet to be monetized.
Though certain upgrades have been made, there is still a considerable amount of value-add to unlock at the property, as well as tremendous upside, offering ±88% in potential untapped rental income, making The Jefferson an incredible opportunity for an investor looking to acquire a well-positioned asset at an unbelievable price of $216.53 p/sf!
(8) One-Bedroom + One-Bath
Jefferson Park is a historic neighborhood located in the South Los Angeles region of Los Angeles, California. Situated just south of Downtown Los Angeles, Jefferson Park is bounded by West Adams to the north, Leimert Park to the south, Arlington Heights to the west, and the Exposition Park area to the east. The neighborhood is known for its diverse community, rich cultural heritage, and historic architecture.
As of the latest available data, Jefferson Park has a population of approximately 14,000 residents. The neighborhood is characterized by its diverse demographic makeup, with residents representing a variety of ethnicities, cultures, and socioeconomic backgrounds. Families, young professionals, and artists are drawn to Jefferson Park for its affordability, sense of community, and convenient location.
Jefferson Park has experienced notable economic growth in recent years, spurred by revitalization efforts and investment in the neighborhood. The area is home to a growing number of small businesses, restaurants, cafes, and cultural venues that contribute to its vibrant economy. Additionally, the neighborhood’s proximity to Downtown Los Angeles and major employment centers provides residents with job opportunities across various industries.
While Jefferson Park itself may not have a large concentration of businesses, residents have access to job opportunities in nearby areas such as Downtown Los Angeles, Koreatown, and Culver City. The neighborhood’s central location and access to public transportation make it convenient for residents to commute to work in other parts of the city.
Jefferson Park offers a range of housing options, including apartments, single-family homes, and duplexes. The neighborhood’s apartment rental market is diverse, with properties ranging from historic buildings with charming architectural details to modern developments with luxury amenities. Rental prices in Jefferson Park tend to be more affordable compared to other neighborhoods in Los Angeles, making it an attractive option for renters seeking urban living without the high costs.
Jefferson Park is home to several parks and recreational facilities that provide residents with opportunities for outdoor recreation and leisure activities. The neighborhood’s namesake park, Jefferson Park, features green space, sports courts, playgrounds, and picnic areas. Additionally, residents can explore nearby cultural attractions such as the California African American Museum and the Exposition Park Rose Garden.
Jefferson Park is a historic neighborhood with a rich cultural heritage and a bright future ahead. With its diverse community, growing economy, and affordable housing options, Jefferson Park offers residents a unique blend of urban living and neighborhood charm. As the neighborhood continues to evolve and thrive, it remains an attractive destination for those seeking an authentic Los Angeles experience.
+ +/- 88% rental upside potential
+ Attractive cost per unit and cost per sf
+ Very spacious 1-bedroom + 1-bath units with two separate entrances
+ Individually metered for gas & electric and in-unit hot water heaters
+ Newer roof and copper plumbing
+ Excellent value-added investment opportunity
Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.
