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Listed by Lorraine Tan • Lyon Stahl Investment Real Estate, Inc.
$ 915,000
Est. payment /mo
Price Dropped by $60K
2620 Idell St Los Angeles, CA 90065
2,208 SqFt
UPDATED:
11/25/2024 11:02 PM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,208 sqft
Price per Sqft $414
MLS Listing ID SB-24191224
Year Built 1917
Lot Size 7,080 Sqft
Property Description
2620 Idell Street is a value-add, 4-unit investment located in an Opportunity Zone within the Cypress Park neighborhood of Los Angeles. Situated on an oversized 7,080 SF lot, 2620 Idell Street is a 2,208 SF apartment building comprised of four one-bedroom/one-bathroom units with below market rents. Zoned LARD1.5 and located within a TOC Tier 3 zone, the large lot is underutilized and presents an opportunity to add additional units in the rear of the property. This property is ideally located near the entrance to both the 110 Freeway and the 5 Freeway, giving tenants quick access to all Greater Los Angeles. The central location in Cypress Park allows tenants to easily enjoy many of the main attractions of Los Angeles such as Dodger Stadium, Downtown Los Angeles, Echo Park, the University of Southern California, and the Westside of Los Angeles. 2620 Idell Street offers an amazing opportunity for an astute investor or owner-user to implement a value-add program to capture the rental upside. Additionally, being within an Opportunity Zone and a TOC Tier 3 zone of Los Angeles, 2620 Idell Street offers an investor the ability to build additional units and take advantage of the Opportunity Zone tax advantages and TOC density bonuses. Located in one of the most up-and-coming neighborhoods of Los Angeles with incredibly low inventory available, 2620 Idell Street is positioned well to capture the long-term appreciation and transformation that is underway in the neighborhood.
Location
State CA
County Los Angeles
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 4.0
Pool None
Community Features Curbs, Sidewalks
Building
Lot Description Landscaped
Sewer Unknown