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2909 N Coolidge Avenue

Los Angeles (City), CA 90039
  • $2,980,000
  • STATUS: Active Under Contract
  • ON SITE: 158 Days
  • ID#: P1-15784
Under Contract
UPDATED: 53 min ago
$2,980,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2023
County:

School Ratings & Info

Listing Agent(s): Dennis Battung of Douglas Elliman of California, Inc. ((626) 204-5252) and Gregory Holcomb of Douglas Elliman of California, Inc.((626) 204-5252)


Description

Welcome to the Coolidge Complex, a truly magnificent Spanish Modern located in DCLA's favorite pocket of Los Angeles, Frogtown. This rare and fully vacant new construction complex offers 4 Vacant units with the ability collect today's market rent in one of the highest rent producing pockets in the Country without compromising quality, design, space, or workmanship.Having developed close to two dozen projects in this part of town alone, DCLA understands its resident's needs within these spaces and designs each Rental Income property to be the most desirable among the area, and The Coolidge Complex screams just this.This complex intelligently allows for a mix of owners as this brand new, low maintenance stunner is the perfect hands off income property for owners who enjoy recurring income without recurring headaches. All the more, it also allows for an owner to live, rent-free, in one unit while the remaining residents pay their mortgage off for them. Either way, any owner will enjoy monthly cashflow, mortgage pay down through rental income, tax benefits, equity increases, and most of all, the ability to start with market rate rents due to its full vacancy! 4 unit properties in Los Angeles typically never come FULLY Vacant!Each unit features two ample sized rooms with two fully equipped bathrooms for multiple tenant combinations and is designed to service its occupant independently while offering designated outdoor spaces for each unit in the form of rooftop decks to check off every box each person may have.Studying multitudes of data confirms the conclusion that this product offers one of the few areas within the Real Estate market that remains underserved as there is a severe lack of good housing in Los Angeles a rents in the City continue to rise for market rate units only while others level off.Set to be complete end of December 2023, the Duplex is ready to go sands finishing touches on the exterior to give it that DCLA panache while the rear structure is fully underway and set to be completed before the end of the year.Allow Us To Reintroduce This Home!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T13:40:46.067. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/145333406
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2909 N Coolidge Avenue Los Angeles (City), CA 90039

  • Price: $2,980,000
  • Status: Active Under Contract
  • On Site: 158 Days
  • Updated: 53 min ago
  • ID#: P1-15784
0
Beds
0
Baths
0
½ Baths
0.12
Acres
2023
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Property Description
Welcome to the Coolidge Complex, a truly magnificent Spanish Modern located in DCLA's favorite pocket of Los Angeles, Frogtown. This rare and fully vacant new construction complex offers 4 Vacant units with the ability collect today's market rent in one of the highest rent producing pockets in the Country without compromising quality, design, space, or workmanship.Having developed close to two dozen projects in this part of town alone, DCLA understands its resident's needs within these spaces and designs each Rental Income property to be the most desirable among the area, and The Coolidge Complex screams just this.This complex intelligently allows for a mix of owners as this brand new, low maintenance stunner is the perfect hands off income property for owners who enjoy recurring income without recurring headaches. All the more, it also allows for an owner to live, rent-free, in one unit while the remaining residents pay their mortgage off for them. Either way, any owner will enjoy monthly cashflow, mortgage pay down through rental income, tax benefits, equity increases, and most of all, the ability to start with market rate rents due to its full vacancy! 4 unit properties in Los Angeles typically never come FULLY Vacant!Each unit features two ample sized rooms with two fully equipped bathrooms for multiple tenant combinations and is designed to service its occupant independently while offering designated outdoor spaces for each unit in the form of rooftop decks to check off every box each person may have.Studying multitudes of data confirms the conclusion that this product offers one of the few areas within the Real Estate market that remains underserved as there is a severe lack of good housing in Los Angeles a rents in the City continue to rise for market rate units only while others level off.Set to be complete end of December 2023, the Duplex is ready to go sands finishing touches on the exterior to give it that DCLA panache while the rear structure is fully underway and set to be completed before the end of the year.Allow Us To Reintroduce This Home!
Exterior Features

Architectural Style Spanish Construction Materials DrywallFrameStucco Direction Faces East Entry Location Ground & Staircase Exterior Features Lighting Fencing BlockWoodWrought Iron Foundation Details Slab Lot Features Front YardLandscapedNear ParkNear Public TransitRectangular Lot Number Of Separate Electric Meters 4 Parking Features Driveway LevelDrivewayOn SitePrivateTandemUncovered Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Flat Spa Features None Spa YN No View City LightsMountain(s)Neighborhood View YN Yes

Interior Features

Accessibility Features No StairsAccessible Doors Appliances DishwasherRefrigeratorTankless Water HeaterVented Exhaust Fan Common Walls 1 Common Wall Cooling Central AirAttic Fan Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Vinyl Heating Central Heating YN Yes Interior Features Open FloorplanQuartz CountersRecessed LightingStorageBedroom on Main LevelPrimary SuiteWalk-In Closet(s) Window Features Double Pane Windows

Property Features

Association Fee 0 Community Features BikingCurbsFishingStorm Drain(s)Street LightsSuburbanSidewalksPark Disclosures Flood Plain Disclosure Exclusions Any Staging Furniture or Potted Plants Garage YN No Green Energy Generation Solar Gross Income 199200 Gross Scheduled Income 199200 Insurance Expense 1118 Land Lease YN No Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional1031 ExchangeVA Loan Net Operating Income 160714 New Construction YN Yes New Taxes Expense 36250 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 38486 Possession Close Of Escrow Property Condition Updated/RemodeledTurnkey Rent Control YN Yes Security Features Carbon Monoxide Detector(s)Fire Sprinkler SystemSmoke Detector(s)Security Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesElectricity Total Actual Rent 0 Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 1118 Water Source Public Zoning LAR2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T13:40:46.067. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Dennis Battung of Douglas Elliman of California, Inc. ((626) 204-5252) and Gregory Holcomb of Douglas Elliman of California, Inc.((626) 204-5252)