114 102Nd St Los Angeles, CA 90003

Property Details for 114 102Nd St

Year built

2007

Property size

8,642 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 2-unit apartment building situated on a 5,357 square foot lot in Los Angeles, CA. The property, located at 114 E. 102nd St., boasts a total of 8,642 square feet and is currently 100% occupied. The building comprises two units: a four-bedroom, two-bathroom unit and a three-bedroom, one-bathroom unit. Built in 2007 and 1926, the two-story building is zoned LAR2 and offers on-site parking. The asking price is $895,000, translating to $447,500 per unit and $312.50 per square foot. This value-add, owner-user opportunity benefits from a strategic location with easy access to the 110 Freeway and public transportation, providing convenient commutes to downtown Los Angeles. The property's proximity to Los Angeles Southwest College, Augustus F. Hawkins Nature Park, and Ted Watkins Memorial Park enhances its appeal. The neighborhood offers a variety of shopping and dining options. Potential exists for value enhancement through the addition of an accessory dwelling unit (ADU), subject to buyer verification. Projected rents, utilizing Section 8 voucher limits, are $3,915 for a three-bedroom unit and $4,320 for a four-bedroom unit. The property is not subject to RSO. The APN is 6063-009-006. This is a rare opportunity to acquire a well-located, income-producing property in a thriving Los Angeles neighborhood.