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    1134 S Vancouver Ave

    Los Angeles, CA 90022
    • $2,842,160
    • STATUS: Active
    • ON SITE: 37 days
    • ID#: 21-772692
    UPDATED: 70 min ago
    $2,842,160
    • 8
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,000
      SQFT
    • $355
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:
    Area:

    School Ratings & Info

    Description

    The property is perfectly situated between the area's heaviest retail boulevards - Whittier, Atlantic, and Olympic Boulevards. Tenants enjoy the convenience of being walking distance to Target, Rite- Aid, CVS, Mcdonalds, Starbucks, Numero Uno Market, and several other restaurants and retailers. James A. Garfield High School and Winter Gardens Elementary can also be found within a mile of the property. The property offers 8,000 rentable square feet and has been well-maintained by the current owner. Throughout their ownership, they have upgraded copper plumbing with oversized ABS piping, replaced the electrical system, recently installed new windows throughout the building, and recently added a fresh coat of paint to the exterior stucco. The 6,527 square-foot parcel offers some unused space at the east end of the lot, which is currently being used as storage and revolving day-parking. Current ownership is achieving a monthly average of $1,306 per one-bedroom unit and $807 per studio unit. Since the East Los Angeles market supports rents of $1,700 and $1,300 for one-bedroom and studio units, respectively, a new owner has the opportunity to capture approximately 31% of rental upside. A savvy investor may also recognize the opportunity to repurpose the unused area of the lot to generate new income via designated on-site parking, on-site laundry facilities, or even additional units (Buyer to verify any additional uses at the site). The opportunity to acquire 1134 South Vancouver is truly rare since no multifamily properties of this size have sold in the 90022 zip code in over a decade. As the neighborhood continues to gentrify, this represents a chance for an investor to gain a large footprint and capitalize at a greater scale.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-25T19:42:39.35. 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.
    www.brandiprattrealestate.com/homes/120594301
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    1134 S Vancouver Ave Los Angeles, CA 90022

    • Price: $2,842,160
    • Status: Active
    • Updated: 70 min ago
    • ID#: 21-772692
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    8,000
    SQFT
    $355
    $/SQFT
    1929
    Built
    Neighborhood:
    East La
    County:
    Los Angeles
    Area:
    East La
    Property Description
    The property is perfectly situated between the area's heaviest retail boulevards - Whittier, Atlantic, and Olympic Boulevards. Tenants enjoy the convenience of being walking distance to Target, Rite- Aid, CVS, Mcdonalds, Starbucks, Numero Uno Market, and several other restaurants and retailers. James A. Garfield High School and Winter Gardens Elementary can also be found within a mile of the property. The property offers 8,000 rentable square feet and has been well-maintained by the current owner. Throughout their ownership, they have upgraded copper plumbing with oversized ABS piping, replaced the electrical system, recently installed new windows throughout the building, and recently added a fresh coat of paint to the exterior stucco. The 6,527 square-foot parcel offers some unused space at the east end of the lot, which is currently being used as storage and revolving day-parking. Current ownership is achieving a monthly average of $1,306 per one-bedroom unit and $807 per studio unit. Since the East Los Angeles market supports rents of $1,700 and $1,300 for one-bedroom and studio units, respectively, a new owner has the opportunity to capture approximately 31% of rental upside. A savvy investor may also recognize the opportunity to repurpose the unused area of the lot to generate new income via designated on-site parking, on-site laundry facilities, or even additional units (Buyer to verify any additional uses at the site). The opportunity to acquire 1134 South Vancouver is truly rare since no multifamily properties of this size have sold in the 90022 zip code in over a decade. As the neighborhood continues to gentrify, this represents a chance for an investor to gain a large footprint and capitalize at a greater scale.
    Exterior Features

    Lot Size Area 6527 Other Structures None Parking Garage Assigned Total Parking 4

    Interior Features

    Baths Total 16.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 627799 Gross Income 219432 Gross Operating Income 219432 Like Units1 8 Like Units2 8 Net Operating Income 121088.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Estimated Source Lot Size Area Estimated Total Annual Expense 91761 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lcr4yy

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-25T19:42:39.35. 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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    eXp Realty of California, Inc.
    2603 Camino Ramon, Suite 200
    San Ramon CA, 94583