2049 Purdue Ave, Los Angeles, CA 90025

Description

Offers will be reviewed after Monday, November 2 at 2:00PM. 2 homes for the price of 1! This original yet renovated duplex, on arguably Sawtelle Japantown's most ACTIVE avenue, is literally being swallowed up by NEW developments all around and is primed for opportunity on its oversized 7,782 square foot LAR2 lot (52.75'x147.5' per assessor). Featuring matching 1+1 floor plans, laminate and tile floors, redone kitchens and baths, individual laundry areas, as well as a shared detached 2-car garage (future ADU?), it's not surprising that the existing tenants love living here! One tenant is currently paying $1760/month and the other tenant is currently paying $1600/month & current expenses include gardening ~$1800/yr, insurance ~$1262.30/yr, LAHD registration fee ~$213.38/yr, and water ~$1800/yr. Explore for yourself the sale prices of other duplexes and single family homes on similar lot sizes and discover this unequivocal value. Although it's being sold "as-is" for land value only, creative end users might considering living in one unit while generating income from the other unit (check with LAHD regarding relocation), discerning investors will love the value add proposition by increasing rental revenue through strategic capital improvements and/or constructing additional units (check with LADBS/LAHD), and savvy developers should investigate the Citywide Housing Incentive Program for potential density bonuses, as well as checking with the city to determine the highest and best use of this exceptional parcel nestled between Brentwood, Santa Monica, Westwood, and Mar Vista. Subject to LAHD rent control, both units will be delivered with tenants in place (no vacancies) and seller cannot and will not deliver any vacant units or ask tenants to vacate or ask about cash for keys or carryback paper - no exceptions. Please DO NOT DISTURB tenants or walk property since it is under 24-hour video surveillance.