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$5,495,000
Est. payment /mo
18,805 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 18,805 sqft
Price per Sqft $292
MLS Listing ID CL25541295
HOA Y/N No
Year Built 1983
Lot Size 9,354 Sqft
Acres 0.21
Property Sub-Type Other
Property Description
We are pleased to offer a 17-unit apartment building, available for the first time since it was built just over 40 years ago. This exceptionally well-maintained asset sits on a double lot and features over 18,800 square feet of space, with mostly spacious 1-bedroom units. The building has been under the continuous ownership and care of the original developer, reflecting true pride of ownership. Importantly, the building carries a Certificate of Occupancy from 1984, meaning it is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). This exemption offers investors meaningful flexibility in managing turnover and achieving market rents.Operating at a 5.34% CAP, this property offers a strong return relative to comparable assets in the Los Angeles multifamily market. Rents remain below market levels, providing immediate income along with clear, achievable upside. The large floor plans allow for rent premiums with minimal repositioning.Tenants benefit from 24 on-site parking spaces, easy access to the 101 and 170 freeways, nearby public transportation, and a diverse selection of local restaurants, shopping, nightlife, and more.Under half a mile to the Gelson's at Riverside Dr., or steps to the Jons International Marketplace, this is a building where people rent to
Location
State CA
County Los Angeles
Zoning (Q)R
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2347023055
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Listed by Dario Svidler • Keller Williams Beverly Hills
_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."
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