247 W Florence Ave, Los Angeles, CA, 90003
About This Home
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.
Getting Around
Very Walkable
Good Transit
Very BikeableSchools
Construction
Condition
- Year built: 1919
Type & Style
- Home type: MultiFamily
- Property subType: Mixed Use
Interior
Appliances
- Laundry features: None
Features
- Common walls with other units/homes: No Common Walls
Interior Area
- Total structure area: 6,410
- Total interior livable area: 6,410 sqft
Property
Details
- Parcel number: 6012013049
- Special condition: Standard
Features
- Entry location: Front
- Pool features: None
Lot
- Lot size: 5,969 sqft
- Features: 0-1 Unit/Acre
Parking
- Total spaces: 4
- Parking features: Garage
- Has garage: Yes
- Attached garage spaces: 4
- Covered spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Los Angeles County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,182 | $62,184 |
| Home Insurance * | $201 | $2,412 |
| Property Taxes | $1,067 | $12,804 |
| Electricity | $1,374 | $16,494 |
| Total | $7,824 | $93,888 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-21 | Listed for sale | $1,050,000 |
| 2026-04-19 | Listing removed | $1,250 |
| 2026-01-21 | Listed for rent | $1,250 |
| 2024-08-28 | Listing removed | -- |
| 2024-06-04 | Listed for sale | $1,150,000 |
| 2018-12-10 | Sold | $1,250,000 |
For Sale by Agent
View on Zillow