1629 S Van Ness Ave - Apartments FOR SALE


Los Angeles, CA 90019- Arlington Heights
$1,895,000 USD
310-982-7055
1629 S Van Ness Ave, Los Angeles, CA for Sale
$1,895,000 USD
Apartments - FOR SALE
1/29
null | 4.53% Cap Rate

1629 S Van Ness Ave
Los Angeles, CA 90019
Arlington Heights


HIGHLIGHTS

  • Incredible Mid-City location close to everything that LA has to offer, yet on a quiet residential street
  • Over 80% of households within 5 miles are renters with an average household income of over $87,000 (Costar)
  • Great access to the city via the 10 freeway a few blocks away plus 2 metro rail stations

OVERVIEW

- Huge 6 unit property on a large lot in the heart of Mid-City LA -Excellent unit mix consisting of four 2 bedroom units, one 1 bedroom unit, and an enormous 4 bed, 2.5 bath two story owner's unit with a private patio - Over 6400 square feet of rentable space on an 8000 square foot lot with parking for 6 cars in rear plus a single car garage and one space in front - Well priced on actual rents at 12X GRM plus a healthy 27% upside to income for a market GRM of 9.5X and a 6.4% cap rate - 1960 construction with recent improvements to the property to include new exterior paint, commercial water heater, new floors and windows in owner's unit, new windows, finishes, and appliances in select units - LA Soft Story retrofit complete - Separately metered for gas and electric with opportunity to increase income through implementation of RUBS program for water, sewer, and trash - Laundry room on premises for additional income

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

6

PRICE/UNIT

$315,833

CAP RATE

4.53%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,201 SF

ZONING

LARD2

APN/PARCEL ID

5073-023-021

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.