OFF MARKET DEAL 2406-2408 W Vernon Ave., Los Angeles, CA 90008 Perfect Live/Work Opportunity w/ Income Potential Live in the 3 Bedroom upper unit and earn an income from the rest This Freestanding Mixed-Use building is ideal for owner-user. Good for non owner occupied investor as well Excellent visibility on Vernon Avenue Property includes 3 Car Private parking Garage to the rear of the building One unit is a former Furniture Store location. Potential uses include food, medical or retail. Outstanding opportunity for highly visible building signage. Located just east of Crenshaw Blvd near Leimert Park. Priced low due to high traffic and the fact this property is a fixer. Hidden in plain sight gem for the right savvy Investor Asking: $435K CASH ARV: $464K-$562K Repairs: $30K 2 Commercial units downstairs/ 2 rental properties upstairs Total rent= $3250 per month Tenant pays all utilities 4 BD/2 BA upstairs Currently occupied. Tenant pays $1350 per month Studio downstairs tenant pays $700 per month 1 of the Commercial units is rented out to Auto shop for $1200 per month Rental agreements available with non-binding LOI/POF Seeks CASH buyer, able to close in 7-10 business days. Serious inquires only. Please do not disturb the tenants. Thank you. Note: Unable to find comps that are equal to our Vernon Ave income producing hidden gem. Below are the available comps similar to the subject property: COMPS: 4524 11th Ave. Sold 11/21/14 Sale Price $385K 3BD/2 BA 4059 8th Ave. Sold 10/31/14 Sale Price $590K 4BD/4 BA 2826 W. MLK Jr. Blvd Sold 9/16/14 Sale Price $500K 4BD/4BA 4305 Garthwaite Ave. Sold 10/24/14 Sale Price $480K 4BD/4BA 4348 8th Ave. Sold 8/12/14 Sale Price $650K 4BD/4BA
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