Property listed by Greysteel California, Inc., Everett Wong 310-382-6705
$2,200,000
Value-add multifamily opportunity featuring a classic 1960s asset offered to the market for the first time, providing a rare chance to reposition and enhance long-term value. Offered to market at a 9.8x GRM, this property features approximately 20% upside to market - and will be delivered with Two (2) Vacant… Read More Units - 2BR and Bachelor Unit - ready for immediate in-unit refreshes. 1649 S. La Brea is ideally located in the heart of Mid-City Los Angeles, one of the city’s most dynamic rental submarkets, the property benefits from strong tenant demand, central connectivity, and ongoing neighborhood revitalization. A highly diverse unit mix of Bachelor, 1-, 2-, and 3-bedroom units appeals to a broad tenant base, supporting stable occupancy and leasing flexibility. Additionally, the property has completed the LA Seismic Retrofit Ordinance, with a Certificate of Compliance dated January 25, 2024. Contact Listing Agent for Offering Memorandum containing additional information. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
MixedUse
Lot Size
0.16 Acres
Year Built
1963
MLS Number
PW26037363
Additional Details
Building
Built in 1963, 1 building, 2 stories, Entry level: 1, Entry location: Ground
Community
Urban
Expenses
Operating: $88,726
Garage
9 spaces
Income
Gross Income: $223,788, Gross ScheduledIncome: $223,788, Net Operating Income: $127,010
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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