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$1,549,500
Est. payment /mo
5 Beds
4 Baths
2,131 SqFt
OPEN HOUSE
Sat Apr 19, 2:00pm - 5:00pm
Sun Apr 20, 2:00pm - 5:00pm
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,131 sqft
Price per Sqft $727
MLS Listing ID 25511633
Bedrooms 5
HOA Y/N No
Year Built 1924
Lot Size 5,201 Sqft
Property Description
Welcome to 2700 and 2702 Palm Grove Ave.-a stunning new construction home in the heart of red-hot West Adams. Best of all, **YOU CAN OWN THIS PROPERTY FOR AS LITTLE AS $2,925/month** thanks to rental income from the legal 1BD/1BA ADU (estimated rent: $2,950), offsetting a $5,875 monthly mortgage. The front home offers 4BD/3BA with an open, sunlit floor plan, sleek modern finishes, recessed lighting, and all-new systems including plumbing, electrical, roof, HVAC, tankless water heater, luxury appliances, and more. The detached ADU is fully permitted, features its own private entrance, mini-split HVAC, updated systems, and endless flexibility as a rental, guest house, or home office. One car garage is drywalled with electrical for home office, art studio or more. Built to the latest LADBS standards, the property includes a complete water capture and recirculation system and fire sprinklers throughout. The seller will even **PAY YOUR FIRST YEAR PROPERTY TAXES**, adding exceptional value. Located minutes from the Expo and Crenshaw Lines and close to hotspots like Tartine, Mizlala, Alta, and Delicious Pizza. **SPECIAL LENDER FINANCING** make this is a rare chance to own a brand-new, move-in-ready home in one of LA's most dynamic neighborhoods. Gross Scheduled Income: $105,600; Expenses: $21,425; Net Operating Income: $84,175; GRM: 14.67; Cap Rate: 5.43%.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal, Microwave, Refrigerator
Exterior
Parking Features Door-Single, Driveway, Garage
Building
Story 1
Entry Level One
Architectural Style Contemporary
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5057009002
Special Listing Condition Standard
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Listed by Andrew Watkins • Century 21 Masters