221 South Ave 19
221 South Ave 19
$2,350,000
9
8
4,130
4,130
$569
Description
We are pleased to present 221 S Avenue 19 Apartments: an eight (8) +1 partially permitted private suite multifamily investment located in the heart of the Lincoln Heights submarket of Los Angeles. The property also includes Ready-To-Issue Permits for the construction of two ADU units consisting of two Studio units that will be situated near the rear of the large 9,952 SF lot zoned LA-R1.5. These three, single story, wood frame stucco buildings were built in 1923, 1924, and 1925and consist of 4,130...We are pleased to present 221 S Avenue 19 Apartments: an eight (8) +1 partially permitted private suite multifamily investment located in the heart of the Lincoln Heights submarket of Los Angeles. The property also includes Ready-To-Issue Permits for the construction of two ADU units consisting of two Studio units that will be situated near the rear of the large 9,952 SF lot zoned LA-R1.5. These three, single story, wood frame stucco buildings were built in 1923, 1924, and 1925and consist of 4,130 SF of living area with eight (8) on-site parking spaces. In addition to the 4,130 SF of living area, the ADU additions will add an additional 800 SF of living area to the property when completed. The front Two Bedroom unit was recently subdivided into one(1) Studio suite unit and (1) 1 Bedroom / 1 Bathroom unit with partial permits from the city of Los Angeles (Buyer to verify and complete all due diligence as to the legality of said partial permit | Ask Listing Agent for details regarding this new private suite and permits in place). The property currently features seven (7) One Bedroom | One Bathroom units, one (1) Two Bedroom | one Bathroom unit, and one (1) Studio Suite style unit (Buyer to verify and complete all due diligence as to the legality of said permit). The 2 Bedroom unit has undergone extensive renovations in addition to the new added Studio Suite. The additional 1 bedroom units have undergone extensive rehab including, but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been updated with new plumbing and upgraded electrical systems. A new owner will benefit from the immediate upside that will be provided by completing the RTI ready ADUs to the property. All of the heavy lifting and costs associated with the City of Los Angles and been completed, and a new owner can potentially break ground shortly after the close of escrow. An investor will also benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow.
- Listed by Derrick Vartanian • DRE #01816119 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 221 South Ave 19
Zoning
LARD1.5
Parcel Number5447025013
Total Units8.0
Living Area4130
Source Living AreaAssessor
AreaLincoln Heights (677)
Vacancy Rate0%
Lot Size Area9953
Location
LISTING UPDATED: 04/15/2024 12:36 PM
Property Details for 221 South Ave 19
Status | Active |
---|---|
MLS # | 23-320739 |
Days on Market | 203 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.23 AC / 9,953 SF |
County | Los Angeles County |
Location
Building Information for 221 South Ave 19
Stories1Residences-Year Built1923Building Size-Lot Size0.23 AC / 9,953 SF
Payment Calculator
$14,911 per month
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Property Information for 221 South Ave 19
Property History for 221 South Ave 19
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 221 South Ave 19
Taxable ValueLand$1,020,000Additions$969,000Total$1,989,000
Tax Record2023$25,037 ($2,086 / month)
Home Facts
Total Finished SqFt4,130 SqFtAbove Grade Finished SqFt4,130 SqFtLot Size9,953 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLARD1.5CountyLOS ANGELESAPN5447-025-013
Schools near 221 South Ave 19
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Albion Street Elementary School PublicK to 6 | ||
Florence Nightingale Middle School Public6 to 8 | ||
Woodrow Wilson Senior High School Public9 to 12 | ||
Abraham Lincoln Senior High School Public9 to 12 |
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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