20
See all 20 photos
$833,000
Est. payment /mo
5 Beds
5 Baths
2,506 SqFt
New
6714 Parmelee AVE Los Angeles, CA 90001
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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
Listed by Sevak Keshishian Marcus & Millichap #01887505
NEARBY SCHOOL & BUSINESS
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