We are pleased to offer a 17-unit apartment building, available for the first time since it was built just over 40 years ago. This exceptionally well-maintained asset sits on a double lot and features over 18,800 square feet of space, with mostly spacious 1-bedroom units. The building has been… Read More under the continuous ownership and care of the original developer, reflecting true pride of ownership. Importantly, the building carries a Certificate of Occupancy from 1984, meaning it is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). This exemption offers investors meaningful flexibility in managing turnover and achieving market rents.Operating at a 5.34% CAP, this property offers a strong return relative to comparable assets in the Los Angeles multifamily market. Rents remain below market levels, providing immediate income along with clear, achievable upside. The large floor plans allow for rent premiums with minimal repositioning.Tenants benefit from 24 on-site parking spaces, easy access to the 101 and 170 freeways, nearby public transportation, and a diverse selection of local restaurants, shopping, nightlife, and more.Under half a mile to the Gelson's at Riverside Dr., or steps to the Jons International Marketplace, this is a building where people rent to stay! For local families and job opportunities, the building sits between LA Valley College and NoHo High School.The property includes additional income through owned-laundry machines and a rooftop cell antenna lease, offering passive revenue without additional management. The combination of non-RSO status, stable tenancy, and physical unit size positions this asset as an ideal long-term hold with both cash flow and future growth potential.With a low price per square foot, strong in-place income, and clear paths to value creation, this is a rare opportunity to acquire a generational-quality asset in turnkey condition. Read Less
Property listed by Keller Williams Beverly Hills, Dario Svidler 310-432-6400
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
15
Square Ft.
18,805
Lot Size
0.21 Acres
Year Built
1983
MLS Number
25541295
30 Days Snapshot Of 91607
$1.61M
-6%
(avg) sold price
14
+27%
homes sold
60
-21%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Microwave, Refrigerator
Building
Built in 1983, Building area total: 18,805, Levels: ThreeOrMore, Living area: 18805, 1 building
Garage
24 spaces
Income
Gross income: $460,010, Net operating income: $293,509
Laundry
CommonArea
Lot
0.2147 acres, 9,354 square feet, Size: 9,354
Parking
24 totals parking, Covered, Garage, Private
Property
Zoning: (Q)R3-1
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
