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$ 2,999,000
Est. payment | /mo
15 Baths
6,261 SqFt
$ 2,999,000
Est. payment | /mo
15 Baths
6,261 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,261 sqft
Price per Sqft $478
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 8.76 GRM and 7.50% 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
Listed by Yigal Fatirian Lyon Stahl Investment Real Estate, Inc. #02059042
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