Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property’s prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It’s also just a short distance from Downtown LA’s vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA’s rapidly developing neighborhoods. Don’t miss the chance to capitalize on this unique offering!
Property Details
Price:
$2,895,000
MLS #:
24463491
Status:
Active
Baths:
0
Address:
212 E 29th Street
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Nov 18, 2024
State:
CA
ZIP:
90011
Lot Size:
6,252 sqft / 0.14 acres (approx)
Year Built:
2024
Schools
Interior
Appliances
Dishwasher, Disposal, Refrigerator
Cooling
Central Air
Flooring
Laminate
Heating
Central
Exterior
Garage Spaces
7.00
Parking Features
Tandem Garage, Gated, Garage – Single Door, Garage – Two Door
Parking Spots
9.00
Sewer
Other
Stories Total
3
View
City Lights
Financial
Tenant Pays
Electricity, Gas, Water
Map
Contact Us
Mortgage Calculator
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Courtesy of Power Brokers. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than BUSINESS MA include the name of the listing broker. Neither the listing company nor BUSINESS MA shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
212 E 29th Street
Los Angeles, CA
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