247 W Florence, Los Angeles, California 90003, Los Angeles, 90003 - 0 bed, 0 bath
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Los Angeles, California 90003
Analysis of 247 W Florence, Los Angeles, California 90003 is currently available with a list price of $1,050,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1919, this 105-year-old mixed-use property shows significant signs of age with no evidence of recent renovations. Visible window AC units suggest a lack of modern central HVAC, and the exterior displays weathered windows and dated structural elements. The listing's focus on '40% rental upside' and 'operational improvements' typically indicates deferred maintenance and the need for a comprehensive rehab of kitchens, baths, and systems.
The mixed-use configuration of five residential units and three ground-floor commercial spaces provides a balanced and diversified revenue model, mitigating vacancy risks for investors.
With a projected 40% rental upside and a current 6.04% cap rate, the property offers substantial potential for increased cash flow through strategic rent adjustments and operational improvements.
Situated on the active Florence Avenue corridor near the I-110 and I-105 freeways, the property ensures high visibility for commercial tenants and convenient access to DTLA and USC.
Built in 1919, the property likely requires significant ongoing maintenance and capital expenditures to modernize aging systems and ensure long-term structural integrity.
The current asking price of $1.05M is approximately 16% lower than the 2018 sale price of $1.25M, which may suggest neighborhood volatility or significant deferred maintenance.
247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $131,250 per unit and $163 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.04% cap rate and 8.77 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 1.0 | 50% |
| Baths | 0.0 | 1.5 | 50% |
| Square foot | 6,410 | 4,035 | 50% |
| Lot Size | 5,969 | 4,243 | 50% |
| Price | $1.05M | $780.0K | 50% |
| Price per sq ft | $164 | $236 | 50% |
| Built year | 1919 | 1926 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 117 | 50% |
Apr 21, 2026
$1,050,000
Initial Listing
Dec 10, 2018
$1,250,000
Public Record