212 East 29th Street
$2,895,000
20
21
7,918
7,918
$366
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!
- Listed by Michael Fitzgerald • DRE #02016898 • Brokerage DRE #01268376 • Power Brokers
Property Details for 212 East 29th Street
Zoning
LARD1.5
Parcel Number5128004010
Total Units5.0
Living Area7918
Source Living AreaPlans
AreaDowntown L.A. (C42)
Vacancy Rate60%
Lot Size Area6252
LISTING UPDATED: 11/26/2024 12:01 AM
Property Details for 212 East 29th Street
Status | Active |
---|---|
MLS # | 24-463491 |
Days on Market | 34 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2024 |
Lot Size | 0.14 AC / 6,252 SF |
County | Los 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
Property History for 212 East 29th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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