Welcome to the TWIN PALMS TRIPLEX near the Historic Central Ave District! AMAZING investment opportunity to own a charming, corner-lot property with tremendous upside income potential. Live in one unit and rent out the other two to pay your mortgage! Classic details and sunlit spaces highlight this turn-of-the-century Craftsman property… Read More which boasts many updates - NEW paint, ceiling fans, laminate flooring, recessed lighting, double pane windows, new landscaping for Unit #1 and updated Kitchens and Baths. The Main House has two (2) units with covered porches - UNIT #1 is a 1BR/1BA plus a BONUS DEN (est. 628SF +/-) and UNIT #2 is a Studio with 1BA (est. 628SF +/-) and has its own laundry. The detached Studio Garage Unit #3 with 1 BA is est. 300SF +/-. There are 3 Electric meters / 3 Gas meters / 3 Water Heater units. The XL Backyard is fully-fenced with mature, enveloping trees and currently used for ample parking. Unit #1 has its own separate yard spaces with a new DG covering, landscaping and a thriving Banana tree. Tons of potential to create separate yard spaces for the other two units, dedicated parking spaces and/or a large, landscaped patio. Big enough for RV parking, multiple cars and/or build a workshop. The beautiful, mature twin palms in the front yard are some of the tallest palms in the area and can be seen for miles swaying in the LA skyline. The area has a vibrant cultural, social and entertainment history and is home to the yearly famed Central Ave Jazz festival. Centrally located near restaurants, shopping, major freeways, USC, DTLA and public transportation. DELIVERED COMPLETELY VACANT so you can set the rent to the current market value. Very rare! If you're looking for a smart investment opportunity with a good Cap Rate, then this is your perfect chance. Read Less
Property listed by Coldwell Banker Realty, Simone Poingsett 818-788-5400
Listing Snapshot
Days Online
47
Last Updated
Property Type
Other
Beds
3
Square Ft.
1,557
Lot Size
0.14 Acres
Year Built
1904
MLS Number
25486931
30 Days Snapshot Of 90011
$550k
-5%
(avg) sold price
1
-80%
home sold
46
-49%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Microwave, Refrigerator
Building
Built in 1904, Building area total: 1,557, Levels: One, Living area: 1557, 1 story, 2 buildings, Architectural style: Craftsman
Floors
Laminate
Heating
WallFurnace
Income
Gross income: $4,800, Net operating income: $48,183
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
