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$21,000,000
Est. payment /mo
46,560 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 46,560 sqft
Price per Sqft $451
MLS Listing ID CL25541523
HOA Y/N No
Year Built 1969
Lot Size 0.458 Acres
Acres 0.46
Property Sub-Type Other
Property Description
A generational opportunity to acquire a luxury 27-unit asset in an irreplaceable 'A+' location. Due to a Luxury Housing Exemption about 50% of the units are non-RSO. Ownership has meticulously maintained the property, updating and adding in-unit washer and dryers. Generously-sized apartments average nearly 1600 square feet and feature large balconies, central heat/air and secure perimeter entry and parking. Current rents average $2.82 per square foot leaving significant update of approximately 33% on the table for a buyer to realize. The property is separately metered for gas and electricity and a buyer would be wise to implement RUBS billing on landlord-paid utilities moving forward. Due to a Luxury Housing accommodation related to significant capital improvements,13 units-or about half of the total-are exempt from Los Angeles City Rent Control. Subject only to California State AB1482, these units offer ownership greater control over tenancy and the ability to increase rents annually at nearly 9%. 818 Gretna Green Way is situated in a prime area of Brentwood, adjacent to the renowned Brentwood Country Club and 100 feet away from the Sunday Brentwood Farmers Market. Brentwood enjoys a long-standing reputation as one of Los Angeles' most affluent and desirable residential areas. T
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Flooring Carpet, Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 4264010023
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Listed by Adam Peterson • CB Richard Ellis, Inc.
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