700 W 53rd, Los Angeles, CA 90037

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ResidentialIncome Active

700 W 53rd

$850,000

Overview

Property ID: HZSR26090625

Duplex
Property Type

0
Garage

1914
Year Built

Description

Property located mid-block on 53rd Street in Los Angeles, surrounded by recent and ongoing neighborhood development. The site offers potential for redevelopment and is expected to be delivered with no tenants at the close of escrow. Requires cash or hard money financing only. Its a fixer.

Buyer to verify condition, square footage, permits, and any potential uses with the City of Los Angeles. Property is being sold as-is.

Property can be redone with city approval or be replaced with new building. There is a City of Los Angeles Substandard Order – Supplemental issued

on the property. The tenants will be leaving and the building will be delivered empty. There are four units and building is 3 thousand square feet.

Needs to be legalized with the city. Markets rents can be $9800.00 to $10,000.00. There a huge upside to the property. Hurry won’t last long. Owner will do a three month escrow to allow for plan approval. WILL BE DELIVERED EMPTY. New buyers to verify square footage.