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Rick Lee

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$ 975,000

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2620 Idell St Los Angeles, CA 90065

2,208 SqFt

UPDATED:

09/30/2024 06:13 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,208 sqft

Price per Sqft $441

MLS Listing ID SB24191224

HOA Y/N No

Year Built 1917

Lot Size 7,078 Sqft

Property Description

2620 Idell Street is a value-add, 4-unit investment located in an Opportunity Zone within the Cypress Park neighborhood of Los Angeles. Situated on an oversized 7,080 SF lot, 2620 Idell Street is a 2,208 SF apartment building comprised of four one-bedroom/one-bathroom units with below market rents. Zoned LARD1.5 and located within a TOC Tier 3 zone, the large lot is underutilized and presents an opportunity to add additional units in the rear of the property.
This property is ideally located near the entrance to both the 110 Freeway and the 5 Freeway, giving tenants quick access to all Greater Los Angeles. The central location in Cypress Park allows tenants to easily enjoy many of the main attractions of Los Angeles such as Dodger Stadium, Downtown Los Angeles, Echo Park, the University of Southern California, and the Westside of Los Angeles.
2620 Idell Street offers an amazing opportunity for an astute investor or owner-user to implement a value-add program to capture the rental upside. Additionally, being within an Opportunity Zone and a TOC Tier 3 zone of Los Angeles, 2620 Idell Street offers an investor the ability to build additional units and take advantage of the Opportunity Zone tax advantages and TOC density bonuses. Located in one of the most up-and-coming neighborhoods of Los Angeles with incredibly low inventory available, 2620 Idell Street is positioned well to capture the long-term appreciation and transformation that is underway in the neighborhood.

Location

State CA

County Los Angeles

Area Cypk - Cypress Park

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description Landscaped

Story 2

Sewer Unknown

Water Public

New Construction No

Others

Senior Community No

Tax ID 5446012014

Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Lorraine Tan • Lyon Stahl Investment Real Estate, Inc. • 909-618-2352

Rick Lee

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+1(714) 943-1598

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Rick Lee

Rick Lee

2620 Idell St Los Angeles, CA 90065

Key Details

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Rooms

Interior

Exterior

Building

Others

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2620 Idell St