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$1,230,000
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Property Description
We are pleased to present a ten (10) unit multifamily redevelopment opportunity located in Los Angeles, California. The subject properties are in a solid South Los Angeles location, east of USC and south of E Adams Boulevard. Built in 1911 and 1913 respectively, this property is a double-lot multifamily property consisting of ten (10) one-bedroom / one-bathroom units total; six (6) standard sized units in the corner lot and four (4) larger units in the adjacent lot. The back of the property features fully parked on-site parking. The property is a very ideal value-add opportunity, priced at 5.48 pro forma GRM and 13.86% pro forma cap rate. This double-lot is situated on a hard signalized corner and is zoned LAR3-1 with 12,550 SF of combined land. This allows for the development of fifteen (15) units by-right, or twenty-four (24) units utilizing tier 1 TOC benefits. The zoning allows for 45' max height and an FAR of 3:1. With TOC, a developer can be granted incentives to build 56' max height and a 4.2:1 FAR. Tenants will enjoy living in close proximity to the University of Southern California (USC) along with its collegiate amenities. The strength of this area is demonstrated by CityView, a development firm that just completed their latest mixed-use complex featuring 296-units with ground floor retail just a few blocks from the subject property on the corner of Adams Boulevard and Grand Avenue. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on either capturing rental upside or developing up to twenty-four (24) units in a strong rental market adjacent to USC at an attractive basis.
Full Property Details
Full Property Details for 2915 Maple Ave
General
- Sold For: $1,230,000
- Status: Closed
- Type: Multi-Family
- Source: CLAW
- MLS ID: 23-309901
- Added to Site: 416 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 10
Bedrooms
- Total Bedrooms: 10
Additional Information
- Pool Description: None
- Spa Description: None
- Other Features: None
Parking
- Garage Description: Parking Space, Uncovered
Location
- Area: Downtown L.A.
- County: Los Angeles
- Driving Directions: The subject properties are in a solid South Los Angeles location, east of USC and south of E Adams Boulevard.
Heating & Cooling
- Cooling Type: Air Conditioning
- Heating Type: Wall
Structural Information
- # Buildings: 5
- Common Walls: Attached
- Stories/Levels: 2
- Square Feet: 7,316
- Sq. Ft. Source: Assessor
- Year Built: 1911
- Year Built Source: Vendor Enhanced
- Other Struct. Feat.: Balcony
Unit Information
- Units in Complex: 10
- Unit Type: 2106, 2107
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Property View: City
- Lot Size (Acres): 0.1444
- Lot Size: 12550
- Lot Size Source: Assessor
- Lot Features: City
- Zoning: LAR3
- Lot Description: 2-4 Lots, Redevelopment Area, Landscaped
Financial Considerations
- Price Per Sq. Ft.: $170.86
- Assessment Year: 1911
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5128-004-023
Listed and Sold by Marcus & Millichap, Jason Tuvia
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Schools
Schools serving 2915 Maple Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
260 E 31st St, Los Angeles, CA 90011 | K-5 | 0.1 mi | |
151 W 30th St, Los Angeles, CA 90007 | 6-8 | 0.3 mi | |
1319 E 41st St, Los Angeles, CA 90011 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2915 Maple Ave
Date
Details
Price
Change
Source
11/29/2023
Sold
$1,230,000
-1.6%
MLS
11/13/2023
Price Reduced
$1,250,000
-10.65%
MLS
10/23/2023
Price Reduced
$1,399,000
-9.68%
MLS
10/10/2023
Price Reduced
$1,549,000
-6.06%
MLS
10/02/2023
Price Reduced
$1,649,000
-3%
MLS
9/11/2023
Listed
$1,700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2915 Maple Ave, Los Angeles, CA 90011 (MLS# 23-309901) is a Multi-Family property that was sold at $1,230,000 on November 29, 2023. Want to learn more about 2915 Maple Ave? Do you have questions about finding other Multi-Family real estate for sale in Downtown L.A.? You can browse all Downtown L.A. real estate or contact a Coldwell Banker agent to request more information.