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    1643 N Martel Avenue

    Los Angeles (City), CA 90046
    • $4,495,000
    • STATUS: Active Under Contract
    • ON SITE: 45 days
    • ID#: 20612844
    Under Contract
    $4,495,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1986
    County:

    School Ratings & Info

    Description

    This building requires no seismic retrofit upgrades and houses a large parking garage and an on-site laundry facility. Nine (9) of the units have been extensively renovated with new kitchen and bath cabinets, modern tiles, counters, and flooring. The facade of the property has been designer-finished with gorgeous railings, contemporary wood siding, and clean drought-tolerant landscaping. This stabilized asset gives an investor the ability to have very strong cash flow in one of the most desirable rental markets in California.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-18T00:27:57.01. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.

    www.legacy15.com/homes/108503935
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    1643 N Martel Avenue Los Angeles (City), CA 90046

    • Price: $4,495,000
    • Status: Active Under Contract
    • ID#: 20612844
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    1986
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    This building requires no seismic retrofit upgrades and houses a large parking garage and an on-site laundry facility. Nine (9) of the units have been extensively renovated with new kitchen and bath cabinets, modern tiles, counters, and flooring. The facade of the property has been designer-finished with gorgeous railings, contemporary wood siding, and clean drought-tolerant landscaping. This stabilized asset gives an investor the ability to have very strong cash flow in one of the most desirable rental markets in California.
    Exterior Features

    Direction Faces East Entry Location Ground Level W/Steps Lot Size Source Assessor Lot Size Units Square Feet Parking Features Covered Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No View None View YN No

    Interior Features

    Appliances Gas Cooktop Appliances YN Yes Fireplace Features Living RoomKitchenDining RoomBath Fireplace YN Yes Flooring Wood Laundry Features Community Levels Multi/Split

    Property Features

    Country Us Gross Income 325701.00 Gross Multiplier 13.80 Gross Operating Income 315930.00 Laundry YN Yes Net Operating Income 219150.00 Property Condition Updated/Remodeled Senior Community YN No Special Listing Conditions Standard Tenant Pays GasElectricity Total Expenses 96780.00 Vacancy Allowance Rate 0.00 Zoning Lar3

    Listing provided courtesy of Saadia 'Sam' Liberow of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-18T00:27:57.01. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.

     
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