6219 S Avalon Boulevard, Los Angeles, CA 90003

6219 S Avalon Boulevard is a $799,500, 5 bedroom, 5.0 bath home on a 0.12 acre lot located in Los Angeles, CA.

Seller’s Description

Calling all real estate investors and developers! Here's an incredible chance for a potentially lucrative redevelopment or value-add investment. Situated in the heart of Central Los Angeles, this property boasts a coveted LAC2 zoning, presenting an opportunity to construct a four-story, 21-unit building under the Transit Oriented Communities (TOC) Incentive Program. Currently occupying a 5,250 square foot buildable lot, this asset comprises two recently painted buildings within a secured gated lot. It features recently painted and updated bathrooms with new water supply lines, three 1-bedroom/1-bathroom units and one 3-bedroom/3-bathroom split to 2-bedroom/2-bathroom and 1-bedroom/1-bathroom. With solid rental income, these units generate $5,415 per month ($64,980 per year) and pay on time. Moreover, the property's convenient location near bus stops, banks, parks, and local shops enhances its desirability. Don't let this fantastic investment opportunity slip through your fingers! Act now and seize the potential of this property.