Active

2233 Riverdale Avenue

Los Angeles CA, 90031

$4,600,000


$683.71 per sqft

Active

6,728 sqft

Commercial

Built in 1972

Listed by Tobin Koziol with Helix Real Estate Management 8189741538

Introducing 2233 Riverdale Avenue - a prime 8-unit multifamily investment opportunity in the heart of Los Angeles! Nestled in Frogtown, around the corner from Silver Lake, this remarkable building is poised to deliver immediate returns for the savvy investor. The property has undergone a comprehensive renovation (including new electrical systems, plumbing, and roof) and now offers the perfect blend of modern comfort and unmatched location.

Each of the eight units offers an inviting and comfortable living space, appealing to a wide range of tenants. The thoughtfully designed floor plans provide an efficient use of space for residents to relax and unwind. The modern finishes incorporated into each unit contribute to an elevated living experience, ensuring high tenant satisfaction and long-term occupancy. Additionally, the property features desirable amenities like secure gated entry and parking, central air conditioning, in-unit laundry, and an electric vehicle charger, further enhancing its appeal and marketability.

With an incoming cap rate of nearly 5% and low operating costs bolstered by the recent renovations, buyers can enjoy peace of mind and steady revenue generated by this extremely low-maintenance building. Moreover, with an impending approval for a Tenancy in Common (TIC) structure, the potential for the individual sale of units (like condos) unlocks incredible future value and potential returns! With the demand for housing in Los Angeles higher than ever before, this forthcoming approval makes the property an even more enticing investment.

With its strategic location, updated infrastructure, impressive revenue potential, and low-maintenance nature, 2233 Riverdale is poised to deliver exceptional returns for savvy investors. Don't miss out on this chance to acquire a turnkey investment with significant income and upside potential in one of Los Angeles' most desirable areas!

PF23113521

MLS ID

June 26, 2023

Listed

February 16, 2024

Updated

Map

2233 Riverdale Avenue
Los Angeles CA, 90031

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Laundry Description

Inside, Laundry Closet, Stacked


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, ENERGY STAR Qualified Equipment, Humidity Control


Heating

Yes


Heating Description

Central, ENERGY STAR Qualified Equipment

Exterior/Building Features

Lot Size

0.25 Acres


Lot Features

Drip Irrigation/Bubblers, Landscaped, Near Park, Near Public Transit, Paved, Street Level


Roof

Shingle, See Remarks

Other Property Details

Area Name

C21 - Silver Lake - Echo Park


Days on Market

103


Garage

No


Parking Total

16


View

No


County

Los Angeles


Water Source

Public


Pool

No


Buyer Agency Compensation

3%

Listing Contact: 8189741538 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 4:30 AM UTC

 

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