5529 Via Corona St East Los Angeles, CA 90022

Property Details for 5529 Via Corona St

Year built

1952

Property size

3,267 SF

Property type

Commercial real estate

APN

6341-003-028

Description

This East Los Angeles duplex, located at 5529 Via Corona Street, 90022, presents a compelling investment opportunity. The property features two units totaling 3,267 square feet on a 10,021 square foot lot. Built in 1952, the property includes two two-story buildings and boasts a desirable LCR4 zoning designation. The asking price is $1,250,000, representing a price per unit of $625,000 and a price per square foot of $382.61. The property's pro-forma NOI is $64,670, resulting in a 5.17% pro-forma cap rate. The land value alone is $459.14 per square foot. The front unit features a sunken living room, original fireplace, and a large sliding glass door opening to a spacious backyard. Upstairs, the primary and secondary suites have been remodeled with contemporary design elements. A third bedroom is also located upstairs. The rear unit includes two bedrooms, a bathroom, and a recently upgraded kitchen. A small, unpermitted studio apartment is also present, offering potential for expansion with proper permits. The property is conveniently located near East Los Angeles College, Montebello Golf Course, TopGolf Montebello, Commerce Casino & Hotel, and Citadel Outlets. Excellent access to major freeways (10, 710, 60, and 5) and the Los Angeles Metro Light Rail system provides easy commuting throughout Southern California. The property will be delivered vacant. This property offers numerous potential uses and is well-suited for a range of buyers.