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118 - 124 N Flores Street, Los Angeles, CA
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118 - 124 N Flores Street
Los Angeles, CA 90048-3560 - Mid-City West MF Submarket
Number of Units:
.35 AC (15,080 SF)
For Sale Price:
.63 Parking Spaces / 1,000 SF
Property Description: Multi Family - 8 Units
Marcus & Millichap is pleased to present this vacant eight-unit multifamily property sitting on a large, LAR3 zoned, 15,090 square foot double lot located in the historic Beverly Grove neighborhood. This property offers tremendous value add potential for a sophisticated buyer. The property consists of one 1-bedroom/1-bath unit and four 2-bedroom/1-bath units and three 2-bedroom/2-bathroom units. There is ample parking for each unit, with four-2 car garages and four-1 car private garages, each accessible from the rear alley. The building has been effectively vacant since February 2015 as a result of the owner exercising its rights under the Ellis Act. In that regard, it is subject to certain Ellis Act restrictions with respect to re-renting the units (buyer to conduct its own investigation in connection therewith).
While the property was initially developed and has operated as an apartment building, there are a number of potential alternative uses. For example, the property could potentially be used as a medical in-patient facility. Alternatively, the property could be used as a family compound or group occupancy community care facility.
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Marcus & Millichap Inc
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