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152 N Vendome St

Los Angeles, CA 90026
  • $1,795,000
  • STATUS: Active
  • ON SITE: 31 days
  • ID#: 21-751508
$1,795,000
  • 7
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,402
    SQFT
  • $332
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Description

Significant Value-Add Opportunity - Current rents at the property are below market. There is approximately 54% upside in the current rents accounting for a pro forma 6.14% cap rate and a pro forma gross rent multiplier of 10.18. Non-Conforming Unit - Permit Pending - Currently, the property is operating as eight legal units plus one non-conforming unit. All of these units are occupied and the current ownership is in the process of permitting the non-conforming unit with the City of Los Angeles. The non-conforming unit is separately metered for gas and electricity. Private Patios and Balconies - Most units provide a private outdoor patio space. This has provided a premium amenity to the tenants during the pandemic and has resulted in 100% rent collections through the pandemic. Location, Location, Location - The subject property is located at the corner of Vendome and Council. Just south of Silverlake and Echo Park and adjacent to the trending neighborhoods of Rampart Village and Historic Filipinotown. Nearby development and home values have pushed the market rents substantially over the years.100% Rent Collections During Pandemic the tenants have all been paying their rent through the pandemic. Attractive Financing - Attractive purchase financing is available. Please inquire with listing agent for more details.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T23:42:45.767. 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/118585656
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152 N Vendome St Los Angeles, CA 90026

  • Price: $1,795,000
  • Status: Active
  • ID#: 21-751508
7
Beds
0
Baths
0
½ Baths
0.14
Acres
5,402
SQFT
$332
$/SQFT
1963
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
Significant Value-Add Opportunity - Current rents at the property are below market. There is approximately 54% upside in the current rents accounting for a pro forma 6.14% cap rate and a pro forma gross rent multiplier of 10.18. Non-Conforming Unit - Permit Pending - Currently, the property is operating as eight legal units plus one non-conforming unit. All of these units are occupied and the current ownership is in the process of permitting the non-conforming unit with the City of Los Angeles. The non-conforming unit is separately metered for gas and electricity. Private Patios and Balconies - Most units provide a private outdoor patio space. This has provided a premium amenity to the tenants during the pandemic and has resulted in 100% rent collections through the pandemic. Location, Location, Location - The subject property is located at the corner of Vendome and Council. Just south of Silverlake and Echo Park and adjacent to the trending neighborhoods of Rampart Village and Historic Filipinotown. Nearby development and home values have pushed the market rents substantially over the years.100% Rent Collections During Pandemic the tenants have all been paying their rent through the pandemic. Attractive Financing - Attractive purchase financing is available. Please inquire with listing agent for more details.
Exterior Features

Carport Spaces Total 5 Covered Parking 5 Lot Size Area 6001 Other Structures None Parking Garage Covered Parking Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 6

Interior Features

Baths Total 9.00 Cooling Window Unit(S) Equipment Other Heating Other Laundry None

Property Features

Assessed Total Value 820024 Gross Income 124409 Gross Operating Income 118189 Like Units1 2 Like Units2 7 Net Operating Income 63215.00 Number Of Buildings 1 Number Of Units 8 Owner Pays WaterGardener Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 54974 Type Of Units Mixed Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of William James DRE#01734419 of James Capital Advisors, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T23:42:45.767. 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