Under Contract
2755 Raymond Ave
Los Angeles CA, 90007
$950,000
$248.63 per sqft
Under Contract
7 Beds
3,821 sqft
Residential
Built in 1906
We are pleased to offer the opportunity to acquire this value-add three (3) unit Student Housing/Multi-Family investment on 2755 Raymond Ave, located in the DPS patrol zone, and close proximity to the University of Southern California (USC). The investment consists of one (1) large apartment building on an oversized corner 10,602 sqft lot. The property features a unit mix of one (1) 3 bedroom + 1 bathroom unit, as well as two (2) 2 bedroom + 1 bathroom units. Additionally, one of the 2 bedroom units is vacant, affording any buyer the ability to renovate the unit and select their own tenant. The investment also allows the opportunity to further increase cash flow by adding multiple Accessory Dwelling units (ADU's- Buyer to Verify) in the rear of the structure. This property boasts remarkable redevelopment potential across its expansive 10,602 sqft lot. Benefiting from LARD2 zoning ordinance and an additional TOC Tier 1 density bonus, the site presents a unique opportunity to develop. The generous lot size not only provides ample space but also positions this opportunity to leverage city incentives, potentially facilitating the construction of affordable housing, a vision aligned with community needs. Notably, while situated in a historical zone, the property has been deemed a non-contributor, offering flexibility for future endeavors. (*Buyer to verify all details pertaining to zoning and development potential). Given the location, attractive local area amenities, and opportunity to drastically increase rental income via development as well as tenant turnover, this investment presents an excellent opportunity for an investor to acquire a desirable apartment building in the attractive USC submarket with strong value add upside.
24-363169
MLSⓇ ID
February 28, 2024
Listed
April 5, 2024
Updated
Map
2755 Raymond Ave
Los Angeles CA, 90007
Interior Features
Total Stories
2
Bedrooms
7
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.24 Acres
Other Property Details
Area Name
Mid Los Angeles
Days on Market
16
Garage
No
Parking
Other
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
LARD2
Listing History
Date | Event | Price |
---|---|---|
3/15/2024 | Under Contract | — |
Listed by Adam Shamooelian with Keller Williams Beverly Hills
Listing Contact: 310-658-2668
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ramey Ward | CA DRE# 01456908 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/5/2024