|
We are pleased to present a 5-unit (4 units + Single Family Home) property located in West LA for only $1,595,000 with 3 of 5 units NOT subject to rent control and 2 units delivered VACANT! This opportunity is located one block north of Santa Monica Blvd, just west of the 405, and in very close proximity to Sawtelle Blvd, one of the trendiest corridors in Los Angeles with numerous iconic Sawtelle Japantown restaurants including Mizu 212, Sushi Tsujita, Wine Kitchen House, Hermanito, Donting Noodle, and Tempura House. The building currently operates at a 5.57% CAP on current rents (assuming market rents for the vacant units), with rental upside potential to a 6.25% CAP on pro-forma rents. The property consists of two separate structures, with a two-story four unit in the front and a single-story house in the rear, built in 1940, along with 7 onsite gated parking spaces. The unit mix consists of 4 studios (2 extra-large) and 1 two-bedroom two bath unit (situated in the rear freestanding house). 3 out of 5 units are NON-RENT CONTROL, as they are subject to a luxury exemption, which includes the two-bedroom two bath unit. This offering is well positioned for a local operator looking to increase their holdings and continue driving returns within a highly coveted and proven submarket.
Last Updated | 8/8/2024 | Year Built | 1940 |
---|---|---|---|
Community | West Los Angeles | County | Los Angeles |
Additional Details
AIR | None |
---|---|
AREA | West Los Angeles |
GARAGE | Uncovered |
HEAT | Wall Furnace |
LOT | 6985 sq ft |
LOT DIMENSIONS | 55x110 |
PARKING | Uncovered |
STORIES | 1 |
ZONING | LAR3 |
Location
Contact us about this Property
/ | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". |
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.