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    5801 Packard St

    Los Angeles, CA 90019
    • $3,190,000
    • STATUS: Active
    • ON SITE: 57 days
    • ID#: 21-677840
    UPDATED: 76 min ago
    $3,190,000
    • 13
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,300
      SQFT
    • $384
      $/SQFT
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-07T21:42:20.93. 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/113114652
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    5801 Packard St Los Angeles, CA 90019

    • Price: $3,190,000
    • Status: Active
    • Updated: 76 min ago
    • ID#: 21-677840
    13
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    8,300
    SQFT
    $384
    $/SQFT
    1963
    Built
    Neighborhood:
    Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    Beverly Center-Miracle Mile
    Property Description
    I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.
    Exterior Features

    Lot Size Area 7239 Other Structures None Parking Garage Covered Parking Total Parking 7

    Interior Features

    Baths Total 12.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 272470 Gross Income 207172 Gross Operating Income 201641 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 131960.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 69681 Type Of Units Residential Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-07T21:42:20.93. 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