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Listing ID22191539
Price$9,500,000
Price/SqFt$420.69
StatusActive
SqFt
22,582
Acres
0.206
CountyLos Angeles
Year Built1928
Property TypeResidential Income
This exquisite 32-unit residential income property stands out with gorgeous French Normandy design and ornate, architectural details. Located along Vermont, just below the hills of Los Feliz, the Griffith Observatory and just blocks from Los Feliz Village- this location couldn't be better. The property features 32 units, consisting of 8 beautiful (1 bedroom, view units with French windows) including a non-conforming, "owner's" unit with a fireplace and 24 charming studios (separate kitchens, dining areas and walk-in closets, which gives them more of a spacious feel). Each unit has charming details offering arched doors and doorways and beamed ceilings. The total building size is 22,582 square feet per assessor. Los Feliz is a vibrant and exciting place to live with amazing cafes, restaurants, nightlife, world famous architecture and lots of hiking for outdoor enthusiasts. Centrally located close to Silver Lake, Hollywood and Downtown LA. Owning this incredible piece of history would be a once in a lifetime opportunity! Seller will consider a partial trade. Almost always 100% occupied, the owner has indicated that there is consistently a "waiting-list" to get into the building. Vacancies have historically been filled through "word-of-mouth". The views, character and charm of the units, elevator, large laundry room and the current owner's maintenance record, make this a most attractive building for tenants. Anticipated upside of the rents is approximately 35-40% of current rents.
County
Los Angeles
Price Reduction Date
2024-02-26T20:46:41+00:00
Price/SqFt
420.69
Property Type
Residential Income
Year Built
1928
Appliances
yes
Flooring
Carpet, Wood
Laundry
yes
Laundry Features
Community
Levels
Three Or More
Stories Total
4
Lot Size Area
8991
Lot Size Source
Assessor
Lot Size Square Feet
8991
Number Of Buildings
1
Parking
yes
Roof
Composition
Sewer
Sewer Paid
View
yes
View Type
Mountain(s)
Country
US
MLS Area Major
637 - Los Feliz
Association
no
Co List Agent State License
01386256
Co List Office State License
00616212
Days On Market
503
Disclosures
Rent Control
List Agent State License
00681193
List Office State License
01317331
Lot Size Units
Square Feet
New Construction
no
Number Of Units Total
31
Parcel Number
5589022006
Senior Community
no
Cap Rate
4.1
Gross Multiplier
13.84
Gross Operating Income
665832
Land Lease
no
Laundry Income
300
Net Operating Income
386432
Rent Control
yes
Special Listing Conditions
Standard
Tenant Pays
Other
Total Expenses
274400
© 2024. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Any correspondence from IDX pages are routed to Westside Property Group or one of their associates. Last updated Thursday, March 28th, 2024.
Based on information from CARETS as of Thursday, March 28th, 2024 02:46:11 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Based on information from CARETS as of Thursday, March 28th, 2024 02:46:11 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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