Courtesy of: Steven Bogoyevac 01332755 | Steven M. Bogoyevac, Broker
Purchase Type: Sale
MLS ID: PW21207184
Days On Market: 32
Year Build: 1951
Lot size: 0.055
Property Type: Residential Income
New Construction: No
Swimming Pool: No
Address: 2511 W 5th Street
County: Los Angeles
City: Los Angeles
Neighborhood: C42 - Downtown L.a.
Pool Features: None
2511 West 5th Street is a value-add opportunity in Los Angeles’ increasingly redeveloping MacArthur Park neighborhood. This property is in an excellent location poised for appreciation proximate to numerous luxury development projects, less than two blocks to MacArthur Park, and a half-mile to the Metro Red and Purple lines.
2511 West 5th Street is a 1951 construction that consists of two one-bedroom/one-bath units with 15 percent rental upside and a non-conforming studio that may potentially be converted to a permitted ADU by utilizing recent legislation (buyer to verify). The property also offers two single-car garages, laundry hookups, new privacy fencing, lush landscaping, a shared patio/backyard, and a new security camera.
Note: financial analysis figures include pro forma income for the non-conforming studio.