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$1,590,000
Est. payment /mo
0.28 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD26158707
HOA Y/N No
Year Built 1928
Lot Size 0.278 Acres
Property Sub-Type Apartment
Property Description
Unlock incredible versatility and strong cash flow with this premier eight-unit mixed-use property situated on high-visibility commercial land. Boasting one hundred feet of premium street frontage, this unique asset features four residential units and four storefront retail spaces. It offers an ideal setup for an investor seeking a diversified income stream, or an owner-user looking to occupy the front retail spaces or residential quarters while letting the remaining units subsidize the mortgage.
Beyond its immediate income-generating power, the property offers exceptional value-add and redevelopment upside. Investors can choose to remodel the existing structures, utilizing the generous lot space to add accessory dwelling units or expand the commercial footprint. Alternatively, the site is an excellent candidate for complete redevelopment, allowing a buyer to demolish the current structure and construct a brand-new apartment complex, a larger commercial facility, or a modern mixed-use project featuring ground-floor retail with residential units above.
This versatile property is being sold in its present as-is condition and has been priced competitively to reflect its incredible future potential. To help expedite the acquisition, a prospective lender is already in place with financing available at forty percent down. Whether you choose to collect steady rent, occupy the space, or redevelop from the ground up, this property represents a rare and lucrative footprint in a prime commercial corridor.
Beyond its immediate income-generating power, the property offers exceptional value-add and redevelopment upside. Investors can choose to remodel the existing structures, utilizing the generous lot space to add accessory dwelling units or expand the commercial footprint. Alternatively, the site is an excellent candidate for complete redevelopment, allowing a buyer to demolish the current structure and construct a brand-new apartment complex, a larger commercial facility, or a modern mixed-use project featuring ground-floor retail with residential units above.
This versatile property is being sold in its present as-is condition and has been priced competitively to reflect its incredible future potential. To help expedite the acquisition, a prospective lender is already in place with financing available at forty percent down. Whether you choose to collect steady rent, occupy the space, or redevelop from the ground up, this property represents a rare and lucrative footprint in a prime commercial corridor.
Location
State CA
County Los Angeles
Area 659 - Sunland/Tujunga
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Curbs
Total Parking Spaces 6
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Sewer Public Sewer, Sewer Tap Paid
Water Public
New Construction No
Others
Senior Community No
Tax ID 2564005025
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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Listed by Arthur Mangassarian Re/Max Tri-City Realty 818-636-8899, DRE #00751703
NEARBY SCHOOL & BUSINESS
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