3109 George ST, Los Angeles, CA 90031
3109 George ST, Los Angeles, CA 90031
3109 George ST, Los Angeles, CA 90031
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Chris Mardelli

Chris Mardelli

+1(310) 571-5761
$500,000
Est. payment /mo
4 Beds
4 Baths
2,704 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,704 sqft

Price per Sqft $184

MLS Listing ID 26863525

Bedrooms 4

HOA Y/N No

Year Built 1923

Lot Size 8,999 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area 677 - Lincoln Hts

Zoning LARD3

Interior

Heating Wall Furnace

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Private, Uncovered

Total Parking Spaces 5

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5208001029

Special Listing Condition Standard

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Listed by Sevak Keshishian Marcus & Millichap #01887505
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Chris Mardelli

Broker | License ID: 01834969

+1(310) 571-5761 | chris@therealupside.com

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3109 George ST

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