Amazing opportunity to add value in a prime location! Amazing property located on a beautiful tree-lined street close to everything, including many popular shops and restaurants in Mid-City, West Adams and Culver City. We are very pleased to offer 2911 Wellington Road, a 3 bedroom 2 bath totaling 1,333 sf… Read More on an underutilized 5,233 square foot lot zoned R2 with huge potential to significantly increase the rental income stream through the addition of new units on the lot. Updated zoning laws for R2 lots allows a new owner to divide the existing house into a triplex (convert existing to duplex with a newly attached junior ADU) and add two detached ADUs at the rear, creating a new 5 unit income generating property on this lot (Buyer to do their own investigations to verify). The multi-family rental market in the immediate area is extremely strong, multiple new construction units are renting for $6,000+ per unit less than one block away. Property also has previously fully approved plans for a detached 2 bed + Study + 3 bathroom 2-story 1,200 SF ADU unit with 4 car garage which Buyer can use or modify to maximize the number of units to be built now that many more can be built on the lot. Amazing opportunity to get into this hot rental market and maximize rental income by building additional units on the lot and generating significant monthly income in a prime rental market! Read Less
Property listed by Dana Brody, Dana Brody 818-212-2757
Listing Snapshot
Days Online
14
Last Updated
Property Type
Other
Beds
3
Square Ft.
1,333
Lot Size
0.12 Acres
Year Built
1926
MLS Number
25529073
30 Days Snapshot Of 90016
$616k
-39%
(avg) sold price
6
-62%
homes sold
115
+36%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1926, Building area total: 1,333, Levels: One, Living area: 1333, 1 story, 1 building, Architectural style: Bungalow
Cooling
CentralAir
Floors
Wood
Heating
Central
Income
Gross income: $51,600, Net operating income: $51,600
Interior Features
CeilingFans
Lot
0.1205 acres, 5,251 square feet, Size: 5,251
Parking
2 totals parking, Driveway
Property
Zoning: LARD2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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