6714 Parmelee AVE, Los Angeles, CA 90001
6714 Parmelee AVE, Los Angeles, CA 90001
6714 Parmelee AVE, Los Angeles, CA 90001
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$833,000
Est. payment /mo
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5 Beds
5 Baths
2,506 SqFt
New

6714 Parmelee AVE Los Angeles, CA 90001

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Joel Cloud

Joel Cloud

+1(619) 247-6381

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,506 sqft

Price per Sqft $332

MLS Listing ID 26990985

Bedrooms 5

HOA Y/N No

Year Built 1963

Lot Size 5,235 Sqft

Property Description

We are pleased to present the opportunity to acquire 6714 Parmelee Ave, an attractive multifamily property that consists of five legal units and one non-conforming unit, located in the Florence-Firestone neighborhood of South Los Angeles. The property consists of approximately 2,506 SF of building area on a 5,237 SF lot and is zoned LCR3YY, offering an attractive combination of existing income and long-term upside. Originally constructed in 1963, the property features six 1-bedroom/1-bathroom units, providing an investor with a diverse income-producing asset. The property offers six parking spaces, including two open-air spaces and four covered carport spaces located in the rear, along with gated access. Residents benefit from individually metered gas and electricity, allowing the owner to minimize utility expenses and place greater responsibility for consumption directly on tenants. The property offers approximately 29% rental upside, providing an investor with an opportunity to increase income through the repositioning and lease-up of the property. The property is conveniently located directly across the street from Miramonte Elementary School, one block west of Compton Ave, and just a few blocks south of Gage Ave. Its location provides convenient access to major thoroughfares, public transportation, schools, employment centers, and neighborhood amenities throughout South Los Angeles.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LCR3YY

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Carport

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6010022028

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Sevak Keshishian Marcus & Millichap #01887505

NEARBY SCHOOL & BUSINESS

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Joel Cloud

Joel Cloud

Broker Associate License ID: 01173649

+1(619) 247-6381

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