Property Detail

Description

Here is your chance to get into your first commercial investment property! (We can locate a commercial lender for you if needed!) A prime redevelopment property for sale, located a short drive from SoFI Stadium. The subject property has preliminary plans for an 18 unit apartment complex. However, research shows the building/lot can be switched to a 42 unit EB1 low income apartment project. There are currently tenants in place bringing in approximately $4300/month in rents and professionally managed. Ideal for a newer or experienced investors to generate income while working through planning and permitting with the city of Los Angeles! Or buy and renovate for your own office/retail use. The property is zoned C2 with a variety of options/uses. Please verify all zoning, permits, and allowed usages for your future plans. Great investment in a rapidly gentrifying neighborhood with brand new homes, restaurants and retail in the surrounding neighborhoods. The owner is related to the agent, and they may be willing to carry the current loan balance and let buyer take over payments. The property will be sold AS IS