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Natalie Miranda
marketing@thewhipplegroup.com$ 1,395,000
Est. payment | /mo
10,502 Sqft Lot
$ 1,395,000
Est. payment | /mo
10,502 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25036332
HOA Y/N No
Year Built 1920
Lot Size 10,502 Sqft
Property Sub-Type Apartment
Property Description
We are pleased to present an excellent 5-unit investment opportunity located near Venice Blvd & Arlington Ave in Mid City! Consisting of +/- 5,664 sq. ft. of rentable space, the subject spaciously features two 3 bedroom / 1 bath units, two 2 bedroom / 1 bath units, and one 1 bedroom / 1 bath unit. Three of the five units were completely remodeled and have new kitchens, bathrooms, windows, restored hardwood flooring and built in cabinetry. Capital improvements include new sewer lines replaced in 2020 and updated electrical panels and subpanels. Other amazing advantages of the building include washer/dryers in each unit, individual water heaters in each unit, as well as on-site private parking provided for tenants. More impressive, the building boasts a GRM of 10.8 and CAP rate of 6.9% on current rents! With a generous lot size of +/- 10,501 sq. ft., the opportunities for further improvements to the property are endless. This is a rare opportunity for an investor to acquire a pride of ownership and well maintained property in a great Mid City location just north of Venice Blvd and close to all major attractions such as Los Angeles County Museum of Art, The Original Farmers Market, The Grove, and the Petersen Museum.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Appliance Dryer, Washer
Exterior
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights
Total Parking Spaces 5
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5072024012
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Anie Mayelian • Keller Williams Realty Calabasas • 818-915-9118
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Natalie Miranda
Marketing Director and Agent | License ID: 02122928