Thank you
Shant Sherbetdjian
Remax Commercial and Investment Realty
213-817-1000
We are pleased to present a rare 8-unit investment opportunity in the desirable Larchmont area of Los Angeles, Adjacent to Hancock Park. This amazing property is being offered for sale for the first time in 36 years! Such an attractive 1920's Art Deco Architecture with oversized 1 Bedroom + 1 Bathroom in all Units (and an average unit size of approx. 836 square feet each). As a distinct & well-regarded neighborhood, these units are situated near Shopping & Dining in the busy Larchmont Village, and yet not too far from Melrose Ave & Beverly Blvd. Potential income opportunity awaits with realistic rental upside since units currently qualify for a rent increase (subject to City of Los Angeles' Rent Stabilization Ordinance RSO). Tenants enjoy the short commute to the famous Paramount Pictures, Sunset-Gower Studios and the Wilshire Country Club. Exploring even more adventurous entertainment brings the tenants to The Grove, Hollywood Walk Of Fame, Downtown Los Angeles and Century City. There are some on-site Garage Parking for Select Tenants but all units have Laundry Hookups. The new investor can appreciate its minimal expense as this property is separately metered for Gas and Electricity. A well maintained and managed investment with upgraded electrical is just another appealing highlight for any buyer. We kindly ask all interested parties, please do not walk on the property and do not engage with tenants, they are not aware of the sale, direct all question to the listing agent.
Sell a home like this and save $179,501 Find Out How
Total Bedrooms : 8
Total Baths: 8
Full Baths: 0
Half Baths: 0
Year Built: 1925
Building Area Total: 6,690
See Remarks
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1895
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 8253
Original List Price: 3,000,000
Listing Contract Date: 2024-03-28
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5522022010
Garage Description: Garage
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active Under Contract
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 1564
Directions: Located in a desirable Larchmont area of Los Angeles, adjacent to Hancock Park. Property is situated on North Norton Ave, between Clinton St and Elmwood Ave. The nearest Major Intersection is Beverly Blvd and Western Ave.
Zoning: LAR3
Source Property Type: Residential Income
Area: C18 - Hancock Park-Wilshire
Property Age: 99
Year Built Source: Vendor Enhanced
Total Square Feet Living: 6690
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
101 S Mariposa, Los Angeles, CA,90004 | $2,100,000 | 4 | 2 | 1,890 | 4796 Sqft |
161 S St Andrews Place, Los Angeles, CA,90004 | $4,550,000 | 21 | -- | 15,606 | 8490 Sqft |
641 N Hobart Boulevard, Los Angeles, CA,90004 | $7,550,000 | 18 | -- | 16,035 | 7506 Sqft |
4572 Rosewood Avenue, Los Angeles, CA,90004 | $1,295,000 | 4 | -- | 2,114 | 4994 Sqft |
533 N Commonwealth Avenue, Los Angeles, CA,90004 | $1,265,000 | 4 | -- | 3,299 | 7503 Sqft |
543 N Heliotrope Drive, Los Angeles, CA,90004 | $2,150,000 | 10 | 5 | 4,808 | 8000 Sqft |
246 N Catalina Street #4, Los Angeles, CA,90004 | $2,500 | 1 | 1 | 690 | 7779 Sqft |
251 N Kenmore Avenue, Los Angeles, CA,90004 | $2,295,000 | 12 | -- | 6,852 | 7632 Sqft |
501 N Gower Street, Los Angeles, CA,90004 | $1,995,000 | 3 | 3 | 1,803 | 5577 Sqft |
4835 Elmwood Avenue #4835, Los Angeles, CA,90004 | $4,100,000 | 17 | -- | 6,870 | 7248 Sqft |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/06/2024 @ 04:21
MLS: 24373903
LISTED BY: Shant Sherbetdjian, Remax Commercial and Investment Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.