$1,855,000
$2,495,000
25.7%For more information regarding the value of a property, please contact us for a free consultation.
1300 S VAN NESS AVE Los Angeles, CA 90019
16 Beds
8 Baths
11,234 SqFt
Key Details
Sold Price $1,855,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 11,234 sqft
Price per Sqft $165
MLS Listing ID 22140089
Sold Date 06/13/22
Bedrooms 16
HOA Y/N No
Year Built 1946
Lot Size 10,506 Sqft
Property Description
Attention 1031 and Value-Add Opportunity Investors, Developers and Owner-Users. First time on the market in more than 30 years! This is a rare opportunity to acquire a value-add investment with the future potential to develop a mix-use, multi-story complex. This mixed-use investment consists of 2, 4-unit apartment buildings and an approximately 1,782 sq. ft. retail building. All three buildings are situated on a 10,506 sq. ft. corner parcel zoned C2-2D-O-CPIO, Tier 2 City of Los Angeles. The first 4 plex is located at 1300 S. Van Ness Ave, then adjacent to the east at 3284 Pico Blvd is a single-story retail building, the third building to the east, is the second 4 plex which also fronts Pico Blvd. The two-apartment buildings total 9,456 sq. ft., which would indicate the average square footage is about 1,100 sq. ft per unit. The property is fully occupied, with as much as 65% or more in upside rent potential. The retail tenant is on a month-to-month tenancy and for the savvy investor could create an owner user scenario. The buildings have limited parking. There is a driveway that has access from Van Ness Ave. This location provides the tenants easy access to the surrounding areas including Country Club Park, Koreatown, and Downtown.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAC2
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 5073002020
Special Listing Condition Standard
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Bought with Maureen Kennedy Compass