2951 Francis Avenue

Los Angeles, CA 90005

$2,650,000
Price
12
Beds
8
Baths
5,502 Sq. Ft.
$482 / Sq. Ft.
5,502
Sq. Ft.
$482
per Sq. Ft.

Description

REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. Seller has 2 estimate cost of construction at $160 per sq feet. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. Sprawling restrants nearby and supermarket, flower shop, bus stops, few blocks from starbucks and metro station. The subject property is located just south of 8th...REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. Seller has 2 estimate cost of construction at $160 per sq feet. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. Sprawling restrants nearby and supermarket, flower shop, bus stops, few blocks from starbucks and metro station. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,751 square foot parcel, the property is comprised entirely of three-bedroom units. New ownership has the ability to add two accessory dwelling units (ADU's) TOTALLING 1,650 SF., for a two-bedroom and one-bedroom unit. ADU Permits are "RTI" Status. Current Ownership has extensively renovated all units with stainless-steel kitchen appliances, new flooring, in unit washer/dryers, AC systems in each bedroom & more. All rooms are large sizes. The continued gentrification of the surrounding area along with the rare opportunity to acquire a fully rehabbed, luxury apartment community with a healthy income stream makes 2951 Francis Avenue an excellent acquisition opportunity FOR THOSE WHO ARE LOOKING TO DO 1031 EXCHANGE OR A NEW PURCHASE TO MAKE YOUR $$$ GO FARTHER, CREATING GENERATIONAL WEALTH.
  1. Listed by Max Lee • DRE #01905008 • Brokerage DRE #01180851 • Real Broker

Property Details for 2951 Francis Avenue

Zoning
LAR4
Parcel Number
5077023005
Total Units
4.0
Living Area
5502
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
5%
Lot Size Area
6753

Location

Listing Courtesy of Real Broker, Max Lee, DRE #01905008
Add your commute
LISTING UPDATED: 04/30/2024 05:38 PM

Property Details for 2951 Francis Avenue

StatusActive
MLS #24-376665
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
Lot Size0.16 AC / 6,753 SF
CountyLos Angeles County

Location

Listing Courtesy of Real Broker, Max Lee, DRE #01905008
Add your commute

Building Information for 2951 Francis Avenue

Stories2Residences-Year Built1921Building Size-Lot Size0.16 AC / 6,753 SF

Payment Calculator

$15,562 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,462

Property Taxes

$1,100

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2951 Francis Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 3b2b1b combo
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $169,500
  • Net Operating Income: $169,500.00
  • Gross Income: $237,000
  • Cap Rate: 5.80%
  • Gross Rent Multiplier: $12.24
  • Total Annual Expense: 67300
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.155
  • Lot Size Square Feet: 6753
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 0
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: One
  • Cooling: Dual
  • Cooling Type: Dual
  • Heating: Combination
  • Heating Type: Combination
  • Equipment: Garbage Disposal, Refrigerator, Range/Oven, Washer, Dryer, Dishwasher
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,800.00
  • Unit Actual Rent: $3,800.00
  • Unit Projected Rent: $3,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,800.00
  • Unit Actual Rent: $3,800.00
  • Unit Projected Rent: $3,800.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,800.00
  • Unit Actual Rent: $3,800.00
  • Unit Projected Rent: $3,800.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,450.00
  • Unit Actual Rent: $3,450.00
  • Unit Projected Rent: $3,800.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $230,547.00
  • Assessed Improvement Percent: 22.23
  • Assessed Land Value: $806,733.00
  • Assessed Land Percent: 77.77
  • Assessed Total Value: $1,037,280.00

Property History for 2951 Francis Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2951 Francis Avenue

Taxable ValueLand$806,733Additions$230,547Total$1,037,280
Tax Record2023$13,196 ($1,100 / month)
Home Facts
Total Finished SqFt5,502 SqFtAbove Grade Finished SqFt5,502 SqFtLot Size6,751 SqFtStyleQuadraplexYear Built1921ZoningLAR4CountyLOS ANGELESAPN5077-023-005

Schools near 2951 Francis Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - K to 12
Public - 6 to 8
Rating
School
Distance
UCLA Community School
PublicK to 12

Young Oak Kim Academy
Public6 to 8

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.

Similar Homes

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2951 Francis Avenue is a multi-family home for sale in Los Angeles, CA 90005. This property was listed for sale on April 4, 2024 by Real Broker, it's currently listed at $2,650,000. It has been on the market for a total of 29 days and was last sold on April 22, 2015. This listing's school district is Los Angeles Unified School District. Nearby schools include Rfk Community Schools - Ambassador School - Global Education, UCLA Community School and Rfk Community Schools-New Open World Academy K-12. 2951 Francis Avenue is a 12-bed, 8-bath, 5,502 sqft multi-family home built in 1921.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Broker, Max Lee, DRE #01905008

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.