221 Avenue 19, Los Angeles, CA 90031
9 Apartment Units | Online Auction Sale | Los Angeles, CA 90031
For Sale
Active
28 pictures
- Property Type
-
Multifamily
- Square Feet
- 4,130 SF
Listing Contacts
Derrick Vartanian
Emily Walper
Property Overview
Lyon Stahl Investment Real Estate is pleased to partner with Ten-X to present 221 S Avenue 19 Apartments to the market for significant upside potential in one of Los Angeles' most desirable suburbs. The multifamily complex comprises eight units and one private suite among three buildings. The property also includes Ready-To-Issue Permits for constructing two ADU units that will be situated near the rear of the 0.23-acre lot, which is zoned LA-R1.5. These three single-story, wood-frame stucco buildings were built in 1923, 1924, and 1925, and offer a total of 4,130 square feet of living area and eight on-site parking spaces. The ADU units will add 800 square feet of living area to the property.
The handful of units that have undergone extensive rehab include but are not limited to completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand-new appliances, laminate flooring, new windows, new paint, new plumbing, and upgraded electrical systems. A new owner will benefit from the immediate upside provided by completing the RTI permitting of the ADUs to the property. All the heavy lifting and costs associated with the City of Los Angeles have been completed, and a new owner can break ground shortly after closing 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.
The property is on S Avenue 19, just south of N Broadway, near N San Fernando Road. It allows tenants to live near Downtown Los Angeles, with short commutes to the San Gabriel Valley and close-by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 Freeway, and nearby parks include Downey Recreation Center, Downey Playground, and the Lincoln Heights Recreation Center. Approximately 75% of households are renter-occupied, and 41% are one- and two-person occupied, signifying strong demand for small rental units in the encompassing 3 miles.
Inquire today to learn more about the benefits of investing in 221 S Avenue 19, a premier multifamily investment in the heart of the Lincoln Heights suburb of Los Angeles.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
The handful of units that have undergone extensive rehab include but are not limited to completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand-new appliances, laminate flooring, new windows, new paint, new plumbing, and upgraded electrical systems. A new owner will benefit from the immediate upside provided by completing the RTI permitting of the ADUs to the property. All the heavy lifting and costs associated with the City of Los Angeles have been completed, and a new owner can break ground shortly after closing 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.
The property is on S Avenue 19, just south of N Broadway, near N San Fernando Road. It allows tenants to live near Downtown Los Angeles, with short commutes to the San Gabriel Valley and close-by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 Freeway, and nearby parks include Downey Recreation Center, Downey Playground, and the Lincoln Heights Recreation Center. Approximately 75% of households are renter-occupied, and 41% are one- and two-person occupied, signifying strong demand for small rental units in the encompassing 3 miles.
Inquire today to learn more about the benefits of investing in 221 S Avenue 19, a premier multifamily investment in the heart of the Lincoln Heights suburb of Los Angeles.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Property Details
- Class
- B
- Year Built
- 1923
- Stories
- 1
- Lot Size (sq. ft)
- 10,019 SF
- Units
- 9
Highlights
- 221 S Avenue 19 presents eight units, one private suite, and RTI permits for constructing two ADUs among the three buildings.
- Nestled in the highly desirable Lincoln Heights suburb northeast of Downtown Los Angeles, 75% of households are renter-occupied.
- This investment opportunity presents an immediate upside via the construction of the two ADUs.
- Handful of units have been extensively remodeled, offering new bathrooms, upgraded living rooms, and kitchens with brand-new appliances.
- Only few minutes from entertainment venues, restaurants, LA Live, Downtown Los Angeles, multiple L.A. Freeways, and the Gold Line Metro.
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