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$ 1,199,900
Est. payment /mo
Price Dropped by $99K
507 E Avenue 28 Los Angeles, CA 90031
6 Beds
5 Baths
3,186 SqFt
OPEN HOUSE
Sat Jul 19, 2:00pm - 4:00pm
UPDATED:
Key Details
Property Type Townhouse
Sub Type Townhome
Listing Status Active
Purchase Type For Sale
Square Footage 3,186 sqft
Price per Sqft $376
MLS Listing ID TR25149021
Bedrooms 6
Full Baths 5
Year Built 1988
Property Sub-Type Townhome
Property Description
Now offered at $1,199,900 ! Outstanding Value in Lincoln Heights! Generating an estimated $102,000 annual rental income with a projected 7%+ Net CAP Rate, this is a rare high cash-flow opportunity with modern upgrades and excellent rental upside. Contact broker for details and private showings. Public open houses scheduled for Saturday and Sunday. All offers due by Monday 7/21 Why settle for one when you can own two? For the price of a single home in Highland Park or Mt. Washington, own two fully remodeled, detached homes on one lot ,each with separate addresses, private entrances, separate meters, and outdoor spaces , -delivered 100% vacant and ready for immediate occupancy or rental. Ideal for both investors and owner-occupants, this versatile Lincoln Heights duplex offers projected gross rental income of approximately $8,800/month (rear unit: $4,600, front unit: $4,200), delivering strong cash flow in a centrally located neighborhood. The front home (2BR + den / 2BA, approx. 1,206 sqft, built in 1895) features a flexible bonus room that could serve as a third bedroom or office, plus a private-entry bedroom ideal for a potential studio suite. The rear home (3BR / 2.75BA, approx. 1,980 sqft, built in 1988) boasts high ceilings, an open layout, granite kitchen, spacious living areas, and a primary suite with en-suite bath. A 2-car attached garage adds convenience and value. Located near DTLA, Keck USC, Highland Park, and Silver Lake. Showings available now. Dont miss this well-positioned, high cash-flow property in a rapidly growing neighborhood
Location
State CA
County Los Angeles
Zoning LAR2
Direction E ave 28 / Montecito St.
Interior
Cooling Zoned Area(s)
Fireplace No
Laundry Gas, Washer Hookup
Exterior
Garage Spaces 2.0
View Y/N Yes
Water Access Desc Public
Building
Story 2
Sewer None, Public Sewer
Water Public
Level or Stories 2
Others
Tax ID 5206019040
Special Listing Condition Standard
Listed by Ricky Lee Ricky&Jessie Realty