Potential For Multiple ADU's!!!

Los Angeles, CA 900332744 Lanfranco St.

Property Type: Multifamily
For Sale

Details

  • Price: 1,150,000
  • Cap Rate: 4.13%
  • GRM: 14.03
  • Cost per SF: $301.36
  • Cost per unit: $191,666.67
  • Year Built: 1908
  • Square Footage: 3,816
  • Lot Size: 11,105
  • Units: 6
  • No. Stories: 1
  • Parking: 12 Spaces
  • Transaction Type: For Sale
  • Property Type: Multifamily
  • Zoning: LARD1.5
  • Building Class: C
  • APN/Parcel ID: 5185-017-016

Property Description

El Pueblito De Lanfranco offers value-add bungalow style duplexes totaling 6 apartment units (5 per title profile) in 3 buildings with the potential for up to 4 more units to be added per initial investigations by ADU contractor.​ The rear building is two stories with a private backyard.​ The building construction is of wood frame with pitched / flat roof and painted stucco exterior.​ Development was completed in 1908 with a total of 3,816 building square feet on a 11,105 square foot lot.​ Current zoning is LARD1.5.​

The apartment units are spacious and consist of 2 (1+1), 3 (2+1), and 1 (2+2 T.​H.​) units.​ General property amenities include a private front yard and patio, a private backyard and plenty of on-site parking (12 spaces).​ Unit amenities include plenty of closet and storage space, multi entrance and exits from the unit, adjacent unit parking, individual hot water heaters, & washer / dryer hook-ups. Select units have patios, & private yards. The building is accessible in the front of the property off Lanfranco Street by walkup or private driveway.

The property grounds are low maintenance. This asset is an excellent candidate for a value-add investor looking to reposition or re-develop investment real estate to maximize return.

2744 Lanfranco St. is located in Boyle Heights, the very desirable submarket of East Los Angeles. The property is centrally located adjacent to Downtown, Los Angeles and conveniently located near several major Los Angeles freeways. The immediate vicinity is a quiet residential community consisting of single-family homes and apartment buildings. The property is also near Hollenbeck Park, Boyle Heights Sports Center & Park and Mariachi Plaza which is lined with restaurants, stores, and coffee shops.

Boyle Heights is rich in history do to its central Los Angeles location and attracts Angelinos from all backgrounds and walks of life who appreciate L.A.’s varied cultures, foods, entertainment & traditions.

Property Highlights

  • Bungalow style duplexes with potential for up to 4 more units to be added as ADU’s!
  • Washer / dryer in select units
  • Individual hot water heaters
  • Private yards & patios for select units
  • Significant rental upside potential
  • Central Los Angeles location | Minutes to DTLA

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23975 Park Sorrento Suite 110
Calabasas, CA 91302