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$7,100,000
Est. payment /mo
24,349 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 24,349 sqft
Price per Sqft $291
MLS Listing ID CL25548685
HOA Y/N No
Year Built 1986
Lot Size 0.387 Acres
Acres 0.39
Property Sub-Type Other
Property Description
7342 Haskell Ave, a 21-unit multifamily asset not subject to LA City Rent Control. SELLER WILL CARRY at 4.5% interest-only in year 1, 5.5% interest-only in year 2. Built in 1986, the property is exempt from Los Angeles City rent control, allowing for annual rental increases of 5% plus CPI, currently 8.8% annually. Significant capital improvements totaling approximately $500,000 have been invested into the property, including a new roof, elevator, exterior paint, upgraded hallway flooring, modern lobby tile, security camera installation, and updated interior lighting. Additionally, there is an opportunity to add Five 1-bedroom/1-bath ADUs without losing adequate parking and potentially increasing annual income by $100,000.Proximity to Major Developments: *East San Fernando Valley Light Rail Transit Project: Approximately 1.5 miles east, this 6.7-mile light rail line along Van Nuys Boulevard is under construction, with completion anticipated in 2031. It will enhance connectivity and transit options in the area.*G Line Busway Improvements: Around 2 miles southeast, the Metro G Line is undergoing a $668 million upgrade, including the construction of elevated stations at key intersections like Van Nuys Boulevard and Sepulveda Boulevard, aiming to improve travel times and reliability.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Fireplace No
Building
New Construction No
Others
Tax ID 2206029022
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Listed by Kelly Morgan • KW Advisors
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