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Image 1 - 247 W Florence Ave, Los Angeles, California, 90003 - House for sale

Image 2 - 247 W Florence Ave, Los Angeles, California, 90003 - House for sale

Image 3 - 247 W Florence Ave, Los Angeles, California, 90003 - House for sale

Image 4 - 247 W Florence Ave, Los Angeles, California, 90003 - House for sale

Home For Sale In Los Angeles, California

247 W Florence Ave, Los Angeles, California, 90003

Home For Sale In Los Angeles, California

house for sale

Listed: 06/07/24

247 W Florence Ave, Los Angeles, California, 90003

6 Bed:

5 Bath:

6,410 Sq Ft Living Area:

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Price

$ 1,15M

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About This House

247 W Florence is an 8-unit mixed-use property, offered at9.90 GRMon current rents, with approx. 67% rental upside. This mixed-use property with tremendous promise consists of (1) 2-bdrm. unit, (4) 1-bdrm. units, and (3) ground-floor commercial units that offer a significant value-add opportunity. 247 WFlorence is offered at a 9.90 currentGRM, $143, 750per unit, and $179 per foot. A savvy investor can stabilize the property at a 11.08% CAP and5.90 GRMby achieving market rents for renovated units. This 8-unit mixed-use property resides on a5, 967 SFlot (zoned LAC2) with three gated tandem parking spots. 247 West Florence is minutes from several South LA thoroughfares, including Broadway, Main Street, Manchester Boulevard, and the 110 Freeway. In addition, the property is 3 miles west of Pacific Blvd - the commercial heart of Huntington Park.

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Florence Housing & Living

Household Income

Median household income: $62,474

Number of households: 1,4M

The average household income in Los Angeles, CA grew from $60,197 to $62,474 in the past year. This data is an estimate based upon 1,4M households in Los Angeles, CA.
The chart below presents how household income is distributed in Los Angeles, CA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Los Angeles, CA compared to median property taxes around the country. The prevalent amount of property taxes in Los Angeles, CA equals $3k+ , which is more than the national average.

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