212 East 29th Street

Los Angeles, CA 90011

$2,895,000
Price
20
Beds
21
Baths
7,918 Sq. Ft.
$366 / Sq. Ft.
7,918
Sq. Ft.
$366
per Sq. Ft.

Description

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...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!
  1. Listed by Michael Fitzgerald • DRE #02016898 • Brokerage DRE #01268376 • Power Brokers

Property Details for 212 East 29th Street

Zoning
LARD1.5
Parcel Number
5128004010
Total Units
5.0
Living Area
7918
Source Living Area
Plans
Area
Downtown L.A. (C42)
Vacancy Rate
60%
Lot Size Area
6252
LISTING UPDATED: 11/26/2024 12:01 AM

Property Details for 212 East 29th Street

StatusActive
MLS #24-463491
Days on Market34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
Lot Size0.14 AC / 6,252 SF
CountyLos Angeles County

Building Information for 212 East 29th Street

Stories3Residences-Year Built2024Building Size-Lot Size0.14 AC / 6,252 SF

Property Information for 212 East 29th Street

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Builder
  • Number Of Stories: 3
  • Number Of Buildings: 2
  • Type Of Units: Townhomes
  • View: Yes
  • View Description: City, City Lights, Skyline
  • View: City Lights
  • Property Condition: New Construction
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Tankless
Contract Info
Contract Info
  • Disclosures: Owner Has R.E. License
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $238,800
  • Net Operating Income: $181,488.00
  • Gross Income: $238,800
  • Cap Rate: 6.26%
  • Gross Rent Multiplier: $12.12
  • Total Annual Expense: 57312
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1435
  • Lot Size Square Feet: 6252
  • Lot Size Dimensions: 50x125
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Tandem, Gated, Garage - 1 Car, Garage - 2 Car
  • Total Parking: 9
  • Covered Parking: 7
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 7
  • Carport Spaces Total: 2
  • Parking Features: Tandem Garage, Gated, Garage - Single Door, Garage - Two Door
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Flooring: Laminate
  • Equipment: Dishwasher, Garbage Disposal, Gas Dryer Hookup, Range/Oven, Refrigerator, Solar Panels, Washer, Dryer
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: Yes
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-18-2024
  • Tenant Pays: Electricity, Gas, Water
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $4,100.00
  • Unit Actual Rent: $4,100.00
  • Unit Projected Rent: $4,100.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $4,100.00
  • Unit Actual Rent: $4,100.00
  • Unit Projected Rent: $4,100.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 4
  • Unit Baths: 5
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $150,000.00
  • Assessed Improvement Percent: 21.43
  • Assessed Land Value: $550,000.00
  • Assessed Land Percent: 78.57
  • Assessed Total Value: $700,000.00

Property History for 212 East 29th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 212 East 29th Street

Taxable ValueLand$561,000Additions$153,000Total$714,000
Tax Record2024$8,833 ($736 / month)
Home Facts
Beds2Total Finished SqFt1,041 SqFtAbove Grade Finished SqFt1,041 SqFtStories1Lot Size6,250 SqFtStyleSingle Family ResidenceYear Built1896ZoningLARD1.5CountyLOS ANGELESAPN5128-004-010

Schools near 212 East 29th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Dolores Huerta Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Thomas Jefferson Senior High School
Public9 to 12

Nava College Preparatory Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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212 East 29th Street is a multi-family home for sale in Los Angeles, CA 90011. This property was listed for sale on November 18, 2024 by Power Brokers, it's currently listed at $2,895,000. It has been on the market for a total of 34 days and was last sold on August 23, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Dolores Huerta Elementary School, John Adams Middle School and Thomas Jefferson Senior High School. 212 East 29th Street is a 20-bed, 21-bath, 7,918 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Power Brokers, Michael Fitzgerald, DRE #02016898

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.