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3806 W Avenue 41

Los Angeles (City), CA 90065
  • $1,375,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: 22184021
UPDATED: 77 min ago
$1,375,000
  • 7
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,324
    SQFT
  • $318
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Listing Agent(s): Eric Dilanian of Remax Commercial And Investment Realty (213-817-1000)


Description

We are pleased to present for sale this rare 5 Unit mid-century construction multifamily building nestled between LA's most eclectic sub-markets of Eagle Rock, Glassell Park, Highland Park, Atwater Village, Frogtown, and Glendale. The property boasts an excellent unit mix of (1) 2 Bed & 1 Bath "Owners Unit" with in-unit laundry, mini-split A/C & private patio space with recent, modern renovations that will be delivered VACANT, (1) 2 Bed & 1.5 Bath Unit, and (3) 1Bedroom & 1.5 Bathroom Units. A total square footage of 4,324 SF, situated on a lot size of 6,249 SF, the property is gated, includes a common area laundry room, and is surrounded by ficus hedges that create a private and Zen-like environment for high-paying tenants. There are (4) tuck-under parking spaces and (1) expansive garage space that can be immediately converted to an ADU (Buyer to Verify Feasibility). With limited supply in this prime location, strong in-place returns (4.53% Cap Rate and 14.48 GRM on Current Income), and significant up-side potential of 91% or a 10.27% Market Cap (Before CapEx), 3806 W Avenue 41 will not last. The property is poised for an investor looking to add rental income from the ADU addition OR an owner-user looking to occupy the owner's unit and rent out the remainder. Disclosure: Soft story retrofit work needs to be completed. Seller has RTI plans. Buyer to verify any and all information including but not limited to the property square footage, lot square footage, and zoning. Drive By Only - Do Not Walk on Property. Email LA1 for a 3D Tour of the Interior.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T21:36:22.027. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
www.canerealestate.com/homes/131409085
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3806 W Avenue 41 Los Angeles (City), CA 90065

  • Price: $1,375,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 77 min ago
  • ID#: 22184021
7
Beds
0
Baths
0
½ Baths
0.14
Acres
4,324
SQFT
$318
$/SQFT
1959
Built
Neighborhood:
623 - Glassel Park
County:
Los Angeles
Area:
623 - Glassel Park
Property Description
We are pleased to present for sale this rare 5 Unit mid-century construction multifamily building nestled between LA's most eclectic sub-markets of Eagle Rock, Glassell Park, Highland Park, Atwater Village, Frogtown, and Glendale. The property boasts an excellent unit mix of (1) 2 Bed & 1 Bath "Owners Unit" with in-unit laundry, mini-split A/C & private patio space with recent, modern renovations that will be delivered VACANT, (1) 2 Bed & 1.5 Bath Unit, and (3) 1Bedroom & 1.5 Bathroom Units. A total square footage of 4,324 SF, situated on a lot size of 6,249 SF, the property is gated, includes a common area laundry room, and is surrounded by ficus hedges that create a private and Zen-like environment for high-paying tenants. There are (4) tuck-under parking spaces and (1) expansive garage space that can be immediately converted to an ADU (Buyer to Verify Feasibility). With limited supply in this prime location, strong in-place returns (4.53% Cap Rate and 14.48 GRM on Current Income), and significant up-side potential of 91% or a 10.27% Market Cap (Before CapEx), 3806 W Avenue 41 will not last. The property is poised for an investor looking to add rental income from the ADU addition OR an owner-user looking to occupy the owner's unit and rent out the remainder. Disclosure: Soft story retrofit work needs to be completed. Seller has RTI plans. Buyer to verify any and all information including but not limited to the property square footage, lot square footage, and zoning. Drive By Only - Do Not Walk on Property. Email LA1 for a 3D Tour of the Interior.
Exterior Features

Parking Features Covered Parking Total 5

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 4.53 Gross Income 94934 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 62302 New Construction YN No Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lac2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T21:36:22.027. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
 
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Cane Real Estate | Keller Williams La Jolla
7817 Ivanhoe Avenue #101
La Jolla CA, 92037
Listing Agent(s): Eric Dilanian of Remax Commercial And Investment Realty (213-817-1000)