1739 W 71st St
California, USA
$350000
Zip: 90044
Description: Presenting a unique opportunity to purchase this clean 3 Bedroom 2 Bath home at 1204 W. Florence Avenue, along with the adjacent mixed-use commercial property, to create a large two parcel compound suitable for endless uses/businesses/full redevelopment. The home is currently owner- occupied so it will be delivered vacant so there's no LA rent control issues or existing tenants to deal with paying to relocate. This home must be purchase 1208 a duplex that's current functioning as one large 4 bedroom unit, and a nicely refinished 700 sq. ft. garage that's currently functioning as an all-purpose/bonus space. There's also great redevelopment potential for this combined 9,593 total sq. ft. two parcel lot zoned C2/R4. Based on zoning, there's the potential to build approx. 23 new multifamily/condo units down the road eventually as this Hyde Park/South LA area continues to grow rapidly spurring on by all the redevelopment in directly adjacent Inglewood. The current owner is running the property as a highly successfully vacation rental site (grossing approx. $10K/mth+upside), but there are countless possibilities for the next owner to explore other great uses & new income streams. New owner can obtain 2 different loans for very favorable financing terms since this property is legally two parcels.
