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    1735 W Vernon Ave

    Los Angeles, CA 90062
    • $3,000,000
    • STATUS: Active
    • ON SITE: 2 days
    • ID#: 21-727178
    New On Site 2 Days Ago
    UPDATED: 11 min ago
    $3,000,000
    • 2
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,958
      SQFT
    • $504
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    We are pleased to present the opportunity to acquire a 15+1 non-conforming unit multi-family property located in the Vermont Square neighborhood of Los Angeles, California. Built in 1923, this two-story apartment building was originally built as a sixteen (16) unit apartment building. In 1976, the property was legally converted to a fifteen (15) unit apartment building by combining two (2) of the single units together. Today, the property operates as a sixteen unit apartment building that consists of thirteen (13) singles with separate kitchens and bathrooms, two (2) one bedroom/one bathroom units, and one (1) non-conforming single unit that brings in an additional $1,011/month of rental income. The property offers tenants gated entry, on-site laundry and master metered utilities, which allow for an annual 5% rental increase pursuant to the guidelines of Los Angeles Rent Stabilization Ordinance. The property and the unit interiors have been well maintained yet still provide an astute investor with a value-add opportunity that can be achieved through interior and exterior renovations.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-06T18:43:01.61. 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/116727106
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    1735 W Vernon Ave Los Angeles, CA 90062

    • Price: $3,000,000
    • Status: Active
    • Updated: 11 min ago
    • ID#: 21-727178
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    5,958
    SQFT
    $504
    $/SQFT
    1923
    Built
    Neighborhood:
    Park Hills Heights
    County:
    Los Angeles
    Area:
    Park Hills Heights
    Property Description
    We are pleased to present the opportunity to acquire a 15+1 non-conforming unit multi-family property located in the Vermont Square neighborhood of Los Angeles, California. Built in 1923, this two-story apartment building was originally built as a sixteen (16) unit apartment building. In 1976, the property was legally converted to a fifteen (15) unit apartment building by combining two (2) of the single units together. Today, the property operates as a sixteen unit apartment building that consists of thirteen (13) singles with separate kitchens and bathrooms, two (2) one bedroom/one bathroom units, and one (1) non-conforming single unit that brings in an additional $1,011/month of rental income. The property offers tenants gated entry, on-site laundry and master metered utilities, which allow for an annual 5% rental increase pursuant to the guidelines of Los Angeles Rent Stabilization Ordinance. The property and the unit interiors have been well maintained yet still provide an astute investor with a value-add opportunity that can be achieved through interior and exterior renovations.
    Exterior Features

    Lot Size Area 6006 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 16.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 884455 Gross Income 234015 Gross Operating Income 231484 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 142919.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 88564 Type Of Units Standard Year Built Source Vendor Enhanced Zoning Lac2

    Listing provided courtesy of Sevak Keshishian DRE#01887505 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-06T18:43:01.61. 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