$2,175,000
$2,295,000
5.2%For more information regarding the value of a property, please contact us for a free consultation.
14 Beds
17 Baths
8,614 SqFt
SOLD DATE : 05/08/2024
Key Details
Sold Price $2,175,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,614 sqft
Price per Sqft $252
MLS Listing ID 24362653
Sold Date 05/08/24
Bedrooms 14
HOA Y/N No
Year Built 1962
Lot Size 0.311 Acres
Property Description
We are pleased to present for sale this rare (17) Unit mid-century investment opportunity in one of LA's most up and coming locations Glassell Park! This opportunity is offered for sale for the first time in nearly 50 years and priced at $135K/Unit! The building was constructed in 1962, situated on an expansive lot size of 13,530 SF, boasting a robust unit mix of 10 (1) Bedroom and (1) Bathroom Units, 2 (2) Bedroom and (1) Bath Units, and Five Studio Units. It is encompassed by a total building Square Footage of 8,614. The property is extremely well parked, with (6) enclosed garage spaces, and (17) surface spaces available. The investment is poised for an astute investor looking to add value by immediately adding up to (4) ADU Units by right (or possible additionally) with a total up-side potential of approximately 135%. Buyer to verify feasibility of adding ADU's. The subject property is zoned RD2-1-CDO-HCR with Soft-Story Retrofit Completed, and Certificate of Compliance Dated 06/03/2022. The property is strategically located in the epicenter of North East LA's Hotspots of Glassell Park, Atwater Village, Highland Park, Eagle Rock, and within minutes to Glendale's famous Americana at Brand! 3429 Andrita Street is considered "Somewhat Walkable" with a walk score of (57), where some errands can be accomplished on foot. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, Soft-Story Compliance, and the ability to construct ADU(s) or additional units. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
Location
State CA
County Los Angeles
Area 623 - Glassel Park
Zoning LARD2
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area
Exterior
Garage Assigned, Uncovered
Garage Spaces 6.0
Garage Description 6.0
Parking Type Assigned, Uncovered
Attached Garage Yes
Total Parking Spaces 23
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5458027032
Special Listing Condition Standard
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Bought with Eric Dilanian • Remax Commercial and Investment Realty