Description

3311 - 3317 Smith St is an ideal "value-add" investment that offers a savvy Buyer the opportunity to add value two ways - through increasing rents and also by building 2-5 new units on the unused portion of the lot. Given the low average rents and ability to build 2-5 new units, the property offers easily over 200% upside in rental income! (Rental upside depends on size of units built, finishes, and upgrades in existing 6 units - Buyer to investigate and run own financial analysis).  Additionally, the property has low expenses c/o separate water meters and a great location with hillside views and more.

Location

Located in the northern part of Lincoln Heights near Montecito Heights and Cypress Park, this area is only 1/3 of a mile from the Heritage Square Metro Gold Line Station, has multiple Metro Bus stops nearby, and virtually across the street from a newly approved mixed use project of 468 apartments and 16,000+ SF of commercial space.  Nearby points of interest include the LA River, KECK USC Medical Center, New Student Housing Development for KECK, a hotel, Dodger Stadium, and more new developments coming to the area.