2114 W Florence Ave Los Angeles, CA 90047

This quadplex presents an investment opportunity with an annual income potential of $81,400 and an actual income of $78,600. The property features government voucher tenants, ensuring consistent rental payments. The property is zoned for a motel, but the buyer must verify. The unit mix includes three studios and one one-bedroom unit. Most of the units have been updated or remodeled, with only one unit occupied by a long-term tenant remaining in its original condition. All tenants are on month-to-month leases, except for one, and three are due for rent increases. The tenant base comprises a mix of Section 8 recipients, other government subsidy recipients, and one traditional tenant. Rents are consistently paid on time. The studio rents are $1750, $1600, and $950, while the one-bedroom unit rents for $1850. The $950 tenant is a traditional tenant, while the others receive Section 8 or other government-granted vouchers. Additionally, three parking spots in the back are leased to a separate entity for $400 per month under a one-year lease agreement with eight months remaining. The total monthly income is $6500, resulting in an annual income of $78,300, including parking income.