Property listed by Douglas Elliman, Ivan Estrada 310-595-3888
$1,530,000
Exceptional six-unit income property ideally located in one of Los Angeles' most desirable rental markets, just moments from West Hollywood, Melrose Avenue, Sunset Boulevard, and countless restaurants, shopping, entertainment, and major employment centers. This well-maintained traditional apartment building offers outstanding curb appeal and reflects years of exceptional pride of ownership,… Read More presenting a rare opportunity to acquire a quality multifamily asset in a highly sought-after location.Over the years, ownership has invested extensively in the property's long-term infrastructure and building systems through numerous capital improvements designed to enhance value and minimize deferred maintenance. Major upgrades include seismic foundation bolting, electrical panel and breaker upgrades, partial sewer line replacement, seismic gas valve installation, extensive plumbing improvements, roof repairs, exterior painting, garage and walkway improvements, laundry room enhancements, and completion of the SB-721 balcony inspection.Several units have been thoughtfully updated over the years with renovated kitchens and bathrooms, updated flooring, fresh interior paint, new fixtures, appliances, water heaters, and numerous plumbing and electrical improvements, creating an attractive living environment for tenants while reducing future capital needs. The property also benefits from additional garage income, providing an attractive supplemental revenue stream.Combining stable in-place income, extensive capital improvements, strong pride of ownership, and an exceptional central Los Angeles location, this is a rare opportunity to acquire a well-maintained investment property with long-term appreciation potential and excellent rental demand. Read Less
Listing Snapshot
Days Online
95
Last Updated
Beds
8
3/4 Baths
6
Square Ft.
3,912
Lot Size
0.15 Acres
Year Built
1954
MLS Number
26847683
Additional Details
Appliances & Equipment
GasRange, Oven
Building
Built in 1954, Living area: 3912.0, 1 building, Building faces East, 2 stories, Levels: One
Fireplaces
Bath, DiningRoom, FamilyRoom
Floors
Laminate
Garage
4 spaces
Heating
Radiant
Income
Gross Income: $10,668, Net Operating Income: $84,115
Laundry
Outside
Lot
0.1469 acres
Parking
2 open parking spaces, 6 total parking spaces
Taxes
Parcel Number: 5550023015, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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