Property Overview

7317 Parmelee Ave is a multi-family apartment building situated in the vibrant Los Angeles area. Built in 1924, this property features a classic architectural style and offers a unique investment opportunity with a substantial footprint. It spans a 5,029 square-foot lot and includes two buildings with a total of five units. The property is located in a dynamic neighborhood with convenient access to various amenities, making it appealing to both residents and investors alike.

Key Property Details

• Location: 7317 Parmelee Ave, Los Angeles, CA 90001
• Lot Size: 5,029 square feet (0.12 acres)
• Living Area: 1,180 square feet
• Units: 5 (multi-family)
• Construction: Wood frame
• Year Built: 1924
• Zoning: LCR3* (suitable for multi-family development)

Investment Potential

The 7317 Parmelee Ave property represents an excellent investment opportunity due to its stable rental income, desirable location, and zoning flexibility. The surrounding area shows a strong rental market, with similar properties indicating competitive pricing trends. Given the property's multi-family nature, investors could explore various strategies to maximize returns, including upgrades or optimizing rental terms. The LCR3* zoning also allows for potential development or expansion, further enhancing the property's future value.

Neighborhood & Amenities

This property is located in an area with a rich community feel and convenient access to essential services, schools, parks, and public transportation. The neighborhood includes a mix of residential and commercial properties, making it an attractive area for families and working professionals. The Los Angeles area continues to see growth and revitalization, which bodes well for long-term property value appreciation.

Comparable Market Analysis

Nearby properties of similar vintage and design have shown strong appreciation over time. Recent comparables show a range of prices, reflecting the area’s overall market health. With Los Angeles's rental market consistently in demand, 7317 Parmelee Ave offers a reliable income source for investors seeking a stable, long-term investment in a central urban location.

For more information and to schedule a viewing, please contact: Taylor Avakian, Founder, The Group CRE, First Vice President, Lyon Stahl, Company Headquarters 2029 Century Park E STE 1370 Los Angeles CA 90067, Email: [email protected].