4614 S Western Ave 4 Unit Apartment Building $1,702,783 CAD ($425,696 CAD/Unit) 9.64% Cap Rate Los Angeles, CA 90062

***Major Price Decrease - Motivated Seller*** Value Added Opportunity for a fully vacant Residential/Commercial property consisting of 7,824 SF of building and 5,663.SF of land. South LA Property has a ton of upside and Live/Work potential. Great opportunity to bring four residential units on the market to provide much needed housing to the Los Angeles community. A possible conversion of commercial units to residential units would provide even more help to the existing housing crisis. Alternatively, keep the existing layout and provide a live/work or residential care facility for transitional housing. Mixed use property works for a variety of buyers including transitional and bridge housing providers, owner/user for SBA financing, non-profit companies providing services for the unhoused and at risk, job training programs, homeless shelters, and more.
Features:
Mid Century Modern Mixed-Use 2 Story Building, Central hallways with front and rear interior staircases.
1st Floor has 7 commercial units (retail and office)
2nd Floor has 4 one-bedroom and one-bathroom residential apartment units. Some second floor units have partial views.
Gated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.
Location:
On Western Avenue Between 46th and 47th Street , South of Vernon Ave and North of Slauson Ave. in South Los Angeles. Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School.
Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval.
Showing by appointment. Call Jon Varsano or Jerry Wiener.