1702 E Florida Street | Los Angeles | State of California | Prices, Plans, Availability

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Live Auction! Bidding to start from $1,100,000! 1702 E Florida St presents a unique investment opportunity in the heart of Alamitos Beach. This historic 4-unit building offers a glimpse into the past with its timeless architecture. The property comprises four 1-bedroom, 1-bathroom units, each boasting an ample 840 sqft of living space. Currently, all four units are occupied, highlighting the desirability of this location. With an average rent of $1,835 per unit, there exists a promising 12% rental upside, making it an attractive prospect for investors seeking growth potential. A noteworthy feature is the property's meticulous maintenance, evident in the first-time listing since 1990. The owner has undertaken substantial capital improvements, including a comprehensive copper re-pipe for the plumbing system, a complete rewiring of the electrical infrastructure with new meters and subpanels, replacement of the sewer mainline, and installation of new 40-gallon water heaters in each unit. Additionally, all required Retrofit work has been recently completed, ensuring the property meets contemporary safety standards. The current utility arrangement involves the owner covering water and sewer expenses, while tenants are responsible for gas, trash, and electricity. The property is individually metered and fully occupied, presenting a turnkey opportunity for investors. Situated in Alamitos Beach, the property is conveniently located near vibrant Retro Row, offering residents easy access to a plethora of restaurants and shops.