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1820 La Brea Avenue, Los Angeles, CA 90019
Priced at Only: $3,200,000
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Address: 1820 La Brea Avenue, Los Angeles, CA 90019
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  • MLS#: 26653223 ( )
  • Street Address: 1820 La Brea Avenue
  • Viewed: 1
  • Price: $3,200,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1963
  • Bldg sqft: 0
  • Days On Market: 5
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90019
  • Provided by: Lyon Stahl Investment Real Estate, Inc.
  • Contact: Yigal Yigal
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    1820 S. La Brea Avenue is a 6,261 square foot, fifteen unit apartment building situated on a 5,802 square foot lot in Mid City, just south of Venice Boulevard. The property offers immediate access to the I 10 Freeway and is centrally located near major Los Angeles employment hubs, retail corridors, dining, and entertainment.The building consists of fifteen studio units, thirteen of which have been recently renovated. Three units are in the process of being delivered vacant, providing additional flexibility for an investor. Nearly all tenants receive government backed housing assistance, providing stable and reliable income. The property includes eight on site parking spaces. Offered at a 9.35 GRM and 6.95% CAP rate, the asset provides strong in place cash flow. Seismic retrofitting has been recently completed, minimizing near term capital expenditure requirements.The property presents additional value add potential, including a possible ADU opportunity and the potential for motel use conversion (buyer to verify). This is a stabilized, income generating asset located in a highly desirable rental submarket.
Features
Building Area Total
  1. 6261.00
Country
  1. US
Heating
  1. None
Laundry Features
  1. None
Levels
  1. Multi/Split
Netoperatingincome
  1. 222395.00
Parcel Number
  1. 5067013025
Parking Features
  1. Carport
  2. Driveway
Sourcesystemkey
  1. 26653223:CLAW
Totalexpenses
  1. 109694.00
Year Built
  1. 1963
Zoning
  1. LAR3
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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