711 E Vernon Avenue Pending Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90011
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 5,184 sqft
Price per Sqft $289
MLS Listing ID CL25593183
Year Built 1929
Lot Size 4,697 Sqft
Property Sub-Type Other
Property Description
We are pleased to present this 9-unit apartment community located at 711 E Vernon Ave, less than 10 minutes away from Downtown Los Angeles, offered at an 8.13 GRM and 7.81% CAP on current rents with upside potential to achieve a 10.07% CAP and 6.79 GRM with pro forma rents. This opportunity consists of a two-story building offering a total of 5,184 rentable square feet. Built in 1929, the property is situated on a 4,697 square foot LARD1.5 zoned lot with alley access. The unit mix consists of one (1) three bedroom one-bathroom unit and eight (8) one bedroom one-bathroom units with 6 out of 9 units having been renovated. Nearby amenities include the Gilbert Lindsay Recreation Center, Trader Joe's, the Ross Snyder Recreation Center, Superiors Grocers, USC, The Coliseum, LAFC, Crypto.com Arena, The Convention Center and various employment opportunities within the direct vicinity of the property. Contact the listing broker for additional information.
Location
State CA
County Los Angeles
Zoning LARD
Building
New Construction No