2422 West Florence Avenue

Los Angeles, CA 90043

$699,000
Price
5
Beds
2
Baths
1,066 Sq. Ft.
$656 / Sq. Ft.
1,066
Sq. Ft.
$656
per Sq. Ft.

Description

DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth....DELIVERED VACANT AT CLOSE OF ESCROW! Located in a prime location near vibrant Inglewood and just moments from SoFi Stadium and Intuit Stadium, this commercially zoned duplex is a standout investment opportunity. Currently, the property generates substantial monthly rental income of $6,000 from its existing residential units. This income stream provides immediate cash flow while laying the groundwork for future development. Beyond its financial prospects, the property offers significant room for growth. There's ample space on the lot to add a third unit or an ADU (Accessory Dwelling Unit), offering additional rental income potential. Ample parking enhances the property's practicality and appeal. What sets this property apart is its potential for expansion and transformation. It comes with approved plans and RTI (Ready-To-Issue) permits for a modern, three-story apartment building that can accommodate either three or four units. This flexibility allows investors and developers to capitalize on its commercial zoning, enhancing its value proposition. Moreover, the location is prime for capitalizing on the dynamic growth of Inglewood. With nearby entertainment venues, shopping options, and easy access to major freeways, residents will enjoy convenience and accessibility. One of the most compelling features of this offering is that it will be delivered vacant at the close of escrow. This means new owners can move swiftly with their development plans without the constraints of existing leases, maximizing their flexibility and timeline. This property represents a rare blend of current income and expansive future potential. Whether you're looking to invest in income-generating rental units, develop a modern apartment building, or explore the possibilities of commercial zoning, this opportunity should not be missed.

Listing Agents

  1. Stephanie Younger

    Stephanie Younger

    Listing Agent

    Compass

    DRE #01365696

  2. Robert Lugari

    Robert Lugari

    Alternative Listing Agent

    Compass

    DRE #02174891

    bob.lugari@compass.com

    P: (323)-321-3353

Property Details for 2422 West Florence Avenue

Water Front
None
Zoning
LAC2
Style
Other
Parcel Number
4009002007
Total Units
2.0
Living Area
1066
Source Living Area
Assessor
Area
Park Hills Heights (PHHT)
LISTING UPDATED: 10/18/2024 04:09 PM

Property Details for 2422 West Florence Avenue

StatusActive
MLS #24-430687
Days on Market73
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.13 AC / 5,744 SF
CountyLos Angeles County
Compensation RemarksSeller will consider offers with requests for Buyer Broker Compensation. Please submit C.A.R. form SPBB with offer documents.

Building Information for 2422 West Florence Avenue

Stories1Residences-Year Built1955Building Size-Lot Size0.13 AC / 5,744 SF

Property Information for 2422 West Florence Avenue

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: 2
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • ADA Compliance: No
  • Water Heater Features: Water Heater Unit
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: Property Report, Rendering, Building Plans Available, Easements
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $72,000
  • Net Operating Income: $72,000.00
  • Gross Income: $72,000
  • Gross Rent Multiplier: $11.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Paved: Yes
  • Lot Acreage: 0.1319
  • Lot Size Square Feet: 5744
Parking Details
Parking Details
  • Parking Garage: Gated
  • Total Parking: 10
  • Parking Features: Gated
Interior Features
Interior Features
  • Levels: One
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Cooling Type: None
  • Heating: Central
  • Heating Type: Central
  • Flooring: Mixed
  • Equipment: Range/Oven, Washer, Dryer
  • Room Bathroom Features: Shower
  • Bathroom Features: Shower Stall
  • Cooking Appliances: Range
  • Laundry: In Unit
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Roof: Composition, Shingle
  • New Construction: No
  • Other Structures: Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 08-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $104,040.00
  • Assessed Improvement Percent: 30.4
  • Assessed Land Value: $238,251.00
  • Assessed Land Percent: 69.6
  • Assessed Total Value: $342,291.00

Property History for 2422 West Florence Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2422 West Florence Avenue

Taxable ValueLand$243,016Additions$106,120Total$349,136
Tax Record2024$4,630 ($386 / month)
Home Facts
Total Finished SqFt1,066 SqFtAbove Grade Finished SqFt1,066 SqFtStories1Lot Size5,742 SqFtStyleMedical BuildingsYear Built1955ZoningLAC2CountyLOS ANGELESAPN4009-002-007

Schools near 2422 West Florence Avenue

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

Alliance Leadership Middle Academy
Charter6 to 8

Learning by Design Charter
CharterK to 5

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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2422 West Florence Avenue is a multi-family home for sale in Los Angeles, CA 90043. This property was listed for sale on August 21, 2024 by Compass, it's currently listed at $699,000. It has been on the market for a total of 73 days and was last sold on May 29, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Seventy-Fourth Street Elementary School, Alliance Leadership Middle Academy and Crenshaw Science, Technology, Engineering, Math And Medicine Magnet. 2422 West Florence Avenue is a 5-bed, 2-bath, 1,066 sqft multi-family home built in 1955.

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 Compass, Stephanie Younger, DRE #01365696; Compass, Robert Lugari, DRE #02174891

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.