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Welcome to the TWIN PALMS TRIPLEX near the Historic Central Ave District! AMAZING investment opportunity to own a charming, corner-lot property with tremendous upside income potential. Live in one unit and rent out the other two to pay your mortgage! Classic details and sunlit spaces highlight this turn-of-the-century Craftsman property which boasts many updates - NEW paint, ceiling fans, laminate flooring, recessed lighting, double pane windows, new landscaping for Unit #1 and updated Kitchens and Baths. The Main House has two (2) units with covered porches - UNIT #1 is a 1BR/1BA plus a BONUS DEN (est. 628SF +/-) and UNIT #2 is a Studio with 1BA (est. 628SF +/-) and has its own laundry. The detached Studio Garage Unit #3 with 1 BA is est. 300SF +/-. There are 3 Electric meters / 3 Gas meters / 3 Water Heater units. The XL Backyard is fully-fenced with mature, enveloping trees and currently used for ample parking. Unit #1 has its own separate yard spaces with a new DG covering, landscaping and a thriving Banana tree. Tons of potential to create separate yard spaces for the other two units, dedicated parking spaces and/or a large, landscaped patio. Big enough for RV parking, multiple cars and/or build a workshop. The beautiful, mature twin palms in the front yard are some of the tallest palms in the area and can be seen for miles swaying in the LA skyline. The area has a vibrant cultural, social and entertainment history and is home to the yearly famed Central Ave Jazz festival. Centrally located near restaurants, shopping, major freeways, USC, DTLA and public transportation. DELIVERED COMPLETELY VACANT so you can set the rent to the current market value. Very rare! If you're looking for a smart investment opportunity with a good Cap Rate, then this is your perfect chance.
Property Type(s):
Residential Income
| Last Updated | 1/21/2025 | Year Built | 1904 |
|---|---|---|---|
| Community | Downtown L.A. | County | Los Angeles |
Additional Details
| APPLIANCES | Microwave, Refrigerator |
|---|---|
| AREA | Downtown L.A. |
| GARAGE | Gated, Oversized, RV Potential, Uncovered |
| HEAT | Wall Furnace |
| INTERIOR | Ceiling Fan(s) |
| LOT | 6252 sq ft |
| LOT DESCRIPTION | Back Yard, Front Yard, Lawn, Yard |
| PARKING | Gated,Oversized,RV Potential,Uncovered |
| SEWER | Other |
| STORIES | 1 |
| STYLE | Craftsman |
| VIEW DESCRIPTION | None |
| ZONING | LAR2 |
Location
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Listed with Coldwell Banker Realty
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