351 N Sierra Bonita Avenue

    Los Angeles (City), CA 90036
    • $2,890,000
    • STATUS: Active
    • ON SITE: 57 days
    • ID#: 19491510
    UPDATED: 75 min ago
    $2,890,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,588
      SQFT
    • $517
      $/SQFT
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    We are pleased to present this 6 Unit apartment building, 351 N. Sierra Bonita Ave. The property is conveniently located in Beverly Grove, one of the highest-demand rental markets in the country. The unit mix consists of Two ~1,600 SF Two-bedroom+One-bathroom units; one of which will be delivered VACANT, with RTI plans to convert to a Three Bedroom+Two Bathroom apartment. Additionally the property features 4 One-Bedroom+One-Bathroom units; two of which will be delivered VACANT, with RTI plans to convert to One-Bedroom+Den+One-Bathroom units.++G++G+-The property was built in 1930 and features 6 garages. This is an extremely rare opportunity for an investor to acquire a 50% VACANT building in a Prime submarket of Los Angeles, with the potential to reposition this asset to a ~6.7% Cap Rate upon full stabilization.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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/97167298

    351 N Sierra Bonita Avenue Los Angeles (City), CA 90036

    • Price: $2,890,000
    • Status: Active
    • Updated: 75 min ago
    • ID#: 19491510
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    5,588
    SQFT
    $517
    $/SQFT
    1930
    Built
    Neighborhood:
    C19 - Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    C19 - Beverly Center-Miracle Mile
    Property Description
    We are pleased to present this 6 Unit apartment building, 351 N. Sierra Bonita Ave. The property is conveniently located in Beverly Grove, one of the highest-demand rental markets in the country. The unit mix consists of Two ~1,600 SF Two-bedroom+One-bathroom units; one of which will be delivered VACANT, with RTI plans to convert to a Three Bedroom+Two Bathroom apartment. Additionally the property features 4 One-Bedroom+One-Bathroom units; two of which will be delivered VACANT, with RTI plans to convert to One-Bedroom+Den+One-Bathroom units.++G++G+-The property was built in 1930 and features 6 garages. This is an extremely rare opportunity for an investor to acquire a 50% VACANT building in a Prime submarket of Los Angeles, with the potential to reposition this asset to a ~6.7% Cap Rate upon full stabilization.
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 4.82 Gross Multiplier 14.80 Gross Operating Income 195180.00 Improvements Amount 196006 Land Value 612530 Laundry YN Yes Net Operating Income 139405.00 Special Listing Conditions Standard Total Expenses 55775.00 Zoning Lard1.5

    Listing provided courtesy of Elijah Korobkin of Central Realty Advisors Inc


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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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