Description

INCOME PRODUCING HOME WITH NEARLY COMPLETED 3 BEDROOM 2 BATHROOM ADU! $85,000 remaining to finish ADU, property has already appraised for $970,000 post completion of ADU. Incredible income-producing opportunity in the heart of South Los Angeles! Situated directly across from Figueroa Elementary School, this charming 3-bedroom, 1.5-bath single-story residence sits on a spacious lot and is already tenant-occupied, generating immediate rental income from day one. The main home offers 1,160 sq ft of comfortable living space and has been tastefully updated with a newer roof, fresh interior paint, original hardwood and tile flooring, and a thoughtful layout that includes a separate dining area, an inviting living room, and a dedicated laundry room. The property also includes a gated rear driveway with alley access and a detached garage, offering ample parking and potential for additional storage or creative use. What truly sets this property apart is the fully framed, detached two-story ADU in the rear. It is an 800 sq ft, 3-bedroom, 2-bath structure that is already well underway. With approved plans and permits already pulled, rough plumbing and electrical completed, and framing fully done, this ADU is just about two months away from completion. The current builder is ready and willing to finish the project at the originally quoted price, making this an ideal value-add opportunity for any investor or owner-user looking to maximize ROI with minimal hassle. Once complete, the ADU is projected to rent for $3,500-$3,600/month, offering tremendous cash flow potential. Located in a well-established and growing neighborhood, this property is near local schools, parks, shopping centers, public transportation, and offers quick access to major freeways for an easy commute throughout Los Angeles. Whether you're looking to add to your investment portfolio or secure a long-term property with significant upside, 533 W 111th Street is a rare chance to own a stabilized rental with a high-yielding ADU nearly ready to go for a buyer who is willing to complete the ADU project and enjoy the uptick in equity as well! Fully discerning buyer will be able to pick their own style of finishes and truly make the ADU their own.