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$ 1,735,000
Est. payment /mo
Price Dropped by $115K
11565 Iowa AVE Los Angeles, CA 90025
6 Beds
4 Baths
2,192 SqFt
Open House
Mon May 18, 11:30am - 1:00pm
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,192 sqft
Price per Sqft $791
MLS Listing ID 26650871
Bedrooms 6
HOA Y/N No
Year Built 1928
Lot Size 2,783 Sqft
Property Description
Pleased to present 11565 Iowa Avenue, a renovated three-unit multifamily investment offering turnkey condition, a fully permitted ADU, and one vacant unit for immediate occupancy in West LA's highly desirable Sawtelle neighborhood. Situated steps from the celebrated Sawtelle Japantown dining district and moments from Santa Monica, the property appeals to both investors seeking a stabilized asset in a premier location and owner-users looking to live in one unit while generating rental income from the remaining two. Originally constructed in 1928, the property was comprehensively renovated in 2022 and includes a garage-to-ADU conversion completed under permit with Certificate of Occupancy issued April 2022. The property totals approximately 2,192 rentable square feet across three two bedroom units, each featuring modern finishes, in-unit washer/dryer, and central air conditioning. The garage conversion to ADU means the property offers no on-site parking, though street parking is readily available on this quiet residential street. The current owner has maintained the property in excellent condition with scheduled rents of $121,140 annually, reflecting a 4.8% cap rate at the $1,850,000 asking price. The property is fully occupied and stabilized, providing immediate, consistent cash flow and long-term income stability for an investor. The all two-bedroom unit mix represents the most desirable configuration for the West LA rental market, where strong demographics including 71.8% renter households and a $104,627 median household income, support consistent tenant demand and rental rate stability.
Location
State CA
County Los Angeles
Area Wla - West Los Angeles
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features On Street
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4261013022
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap #01905352
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