650 S La Jolla Ave - Apartments FOR SALE


Los Angeles, CA 90048
$4,850,000 USD
818-292-1346
650 S La Jolla Ave, Los Angeles, CA for Sale
$4,850,000 USD
Apartments - FOR SALE
1/17
null | 5% Cap Rate

650 S La Jolla Ave
Los Angeles, CA 90048


HIGHLIGHTS

  • Large Units With in unit washer and dryers and balconies
  • Ability to Build 6 more ADU on the lot
  • New exterior Paint
  • New 400amp main panel

OVERVIEW

650 S La Jolla Ave is a 12-unit multi-family apartment complex featuring 1,100 sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has completed two 1bd/1bth ADUs through a carport conversion and with the new AB1211 Law, an investor can add up to 6 more on the lot adding significant value. The building features a new exterior paint job, new 400amp main panel and switchgear, new electrical meters and upgraded sewer. The property has 4 carport spaces with one additional space for storage that can be leased. There are an additional 3-4 spaces on the surface lot. On the property there are 4 basement areas that house shutoff valves, central heating units and extra storage space. The property is conveniently situated near a variety of amenities, including popular restaurants and nightlife resulting in a high rental demand market making it a very appealing investment opportunity. Please do not disturb tenants, property occupied please call listing agent for details.

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$447 USD /SF

# OF UNITS

12

PRICE/UNIT

$404,167

CAP RATE

5%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,502 SF

ZONING

LAR3

APN/PARCEL ID

5510-028-013

ASK ABOUT THIS PROPERTY

Adam KanizoPaloma Realty PartnersMore Info
818-292-1346

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Adam KanizoPaloma Realty PartnersMore Info
818-292-1346

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