Los Angeles, CA90034
| 6448 sqft | MLS# 25519279
Tract:
For Sale $2,495,000
Description
We are proud to present 2051 S Corning St, a 6-unit property located in the Palms submarket priced at a 5% CAP and a 12.45GRM! This opportunity consists of a single, two-story building built in 1960 comprising of 6,448sf situated on a 6,307sf LARD1.5 zoned lot featuring a superior unit mix of (5) three-bedroom two bath and (1) studio units. 4 of 6 units have been renovated and the Earthquake Retrofit has been completed! With alley access, this property features 5 parking spaces in the rear, providing tenants easy access to and from the building. One three-bedroom two bath unit, featuring a private yard, will be delivered VACANT and renovated. There is potential to operate the building at a 6.61% cap rate and 10.14 GRM at market rents, offering an exceptional opportunity for any type investor looking to preserve capital while continuing to drive long term returns in an exceptionally robust submarket that is continuing to improve with ongoing development. Contact the listing broker for additional details.
Facts
| Built in 1960 | Lot Size: 6307.00 sqft | HOA Dues: $0/month
Features
Listing provided by Casey Lins, Kidder Mathews of California, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of April 9, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
