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Description
1009 E 29th St is a five unit apartment complex located in Los Angeles. Constructed in 1923 and sitting on a large 7,739 SF Lot Zoned LAR3 Tier (1) in a high density area with new development projects. Property consists of separate Bungalow- Style 1 Bedroom / 1 Bath units totaling 2,808 SF. The property line is fully fenced on all 4 sides including the gated entrance with back and front access. The property has ample space to park 1 car per unit. This investment has over 50% of upside in rental income and presents a tremendous value-add opportunity. All units are separately metered for gas and electricity. Tenants are all on month to month leases, subject to LA City rent control. 1009 E 29TH Street is ideally developed in the Historic South Central District, one of the most highly sought-after neighborhoods in the city for new investment and urban redevelopment. Property will be sold as is and with tenants in place.
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