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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$2,849,999

Est. payment - /mo

15 Baths

6,261 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,261 sqft

Price per Sqft $455

MLS Listing ID 26653223

HOA Y/N No

Year Built 1963

Lot Size 5,802 Sqft

Property Description

***LOWERED PRICE*** 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 8.5 GRM and 7.73% 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.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR3

Interior

Heating None

Fireplace No

Laundry None

Exterior

Parking Features Carport, Driveway

Total Parking Spaces 8

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5067013025

Special Listing Condition Standard

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Listed by Yigal Fatirian Lyon Stahl Investment Real Estate, Inc. #02059042

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1820 S La Brea AVE Los Angeles, CA 90019