2946 S Western Avenue, Los Angeles, CA 90018

Property Description

Excellent opportunity to acquire a cash-flowing four-plex in the high-demand Adams-Normandie neighborhood of Los Angeles. Situated on a 5,761-square-foot LAC2-zoned lot, this two-story asset offers significant upside potential through immediate rental repositioning and future redevelopment.The property features a strong unit mix consisting of three spacious 3-bedroom, 1-bathroom units and one 2-bedroom, 1-bathroom unit, totaling approximately 3,280 square feet. One 3-bedroom unit will be delivered vacant at the close of escrow, making this an ideal opportunity for an owner-user looking to occupy a unit while generating income, or an investor aiming to immediately renovate and capture market rents. The remaining units are tenant-occupied, with interiors kept in clean, original, and fully operable condition.The property is exceptionally well-structured for an investor, featuring four separate water meters so that tenants pay for their own gas, electricity, water, sewer, trash, and laundry usage. Owner responsibilities are kept to a minimum, covering only common area electricity, water, and landscaping. Recent capital expenditures have enhanced the asset's curb appeal and reduced deferred maintenance, including a newly painted exterior, a recently resurfaced parking lot, and updated stairwell lighting. Secured within a gated perimeter, the building provides a dedicated off-street parking lot for tenants and an on-site laundry room operated by "Wash." Positioned in a prime, highly accessible commuter pocket near USC, Downtown LA, and Koreatown, the location offers quick access to the Expo Metro line and the 10 and 110 freeways. Furthermore, the large lot and favorable LAC2 zoning provide an attractive long-term redevelopment play by utilizing local density incentives, though buyers are advised to verify all potential. Buyer and buyer's agent to conduct their own due diligence, investigations, and inspections regarding all aspects of the property to their full satisfaction.