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Mayra Berumen

mayra.berumen@engelvoelkers.com +1(310) 760-6674

$ 1,100,000

Est. payment -/mo

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2946 S Western AVE Los Angeles, CA 90018

11 Beds

4 Baths

3,280 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,280 sqft

Price per Sqft $335

MLS Listing ID 26855359

Bedrooms 11

HOA Y/N No

Year Built 1961

Lot Size 5,762 Sqft

Property Description

2946 Western Ave is a rare opportunity to acquire a sound legacy asset in historic Jefferson Park, one of the most sought-after communities in Southern California to invest in. The four-unit building sits on a 5,761-square-foot lot with 3,280 square feet of total living space. It has a unit mix of three spacious 3-bed/1-bath apartments and one 2-bed/1-bath apartment (at least one 3-bed apartment will be delivered vacant at the close of escrow). Each unit is separately metered for gas, water and electricity keeping the owners operating responsibilities to a minimum (landscaping and common area electricity and water). Tenants are responsible for their own gas, electricity, water, sewer and trash. There is an on-site laundry facility operated by WASH Laundry that provides additional income for the owner. Secured within a gated perimeter, dedicated off-street parking is provided for tenants in a recently resurfaced parking lot to the rear of the property. The well-maintained building has recently been painted, and upgrades have been made to exterior lighting. This property is located in the middle of current and future development and revitalization projects on Western Avenue. Its location in the center of a historic and cultural hub of the city offers current and future tenants a wide array of lifestyle amenities. It's comfortably close to the E-Line offering convenient access to all parts of Los Angeles and is within short walking distance to grocery stores, community markets, vibrant eateries and thriving schools. It is perfectly situated for a future owner to cultivate a strong legacy investment. It is a great opportunity for a 1031 Exchange. Furthermore, the large lot and favorable LAC2 zoning provides an attractive long-term redevelopment opportunity by utilizing local density incentives. Buyer and buyer's agent to conduct their own due diligence, investigations, and inspections regarding all aspects of the property to their full satisfaction.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAC2

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Tile

Fireplaces Type None

Fireplace No

Appliance Disposal

Laundry Common Area, Laundry Room

Exterior

Parking Features Gated, None

Pool None

Community Features Gated

View Y/N No

View None

Accessibility None

Porch None

Total Parking Spaces 6

Private Pool No

Building

Lot Description Front Yard

Faces West

Story 2

Entry Level Two

Sewer Other

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5053009011

Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

Financing Cash,Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Annette Story Kallen Capital Lending Inc #02110311

NEARBY SCHOOLS & PROPERTIES

Mayra Berumen

Advisor License ID: 01931731

+1(310) 760-6674

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