1651 Vineyard Avenue is a multifamily property constructed in 1965 on a 6,998square foot lot, with a total building size of 4,346 square foot. The propertyfeatures a well-maintained structure with controlled access and is separatelymetered for utilities.The property boasts an attractive unit mix of 5 two-bedroom/one-bathroomand 1 one-bedroom/one-bathroom… Read More unit. While the current management hasmaintained the property diligently, many tenants are long-term residents, andcurrent rents are approximately 77% on average below market rates. A newowner can capitalize on this opportunity by adjusting rents to market levelsupon vacancies and implementing targeted renovations to further increase revenue potential. Situated in a thriving neighborhood, 1651 Vineyard Avenue is within closeproximity to a variety of local amenities, including shopping centers,restaurants, parks, and entertainment venues. Given the property's strong fundamentalssuch as its favorable unit mix, solidconstruction, and exceptional location1651 Vineyard Avenue represents acompelling investment opportunity for those seeking growth, stability, and ahedge against inflation in the vibrant Los Angeles market. Read Less
Property listed by CBRE, Jenny Eng 213-613-3176
Listing Snapshot
Days Online
42
Last Updated
Property Type
Other
Square Ft.
6,059
Lot Size
0.16 Acres
Year Built
1965
MLS Number
25544861
30 Days Snapshot Of 90019
$1.53M
+8%
(avg) sold price
11
-8%
homes sold
58
-36%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1965, Building area total: 6,059, Levels: One, Living area: 6059, 1 story, 1 building
Heating
None
Income
Gross income: $87,708, Net operating income: $47,749
Laundry
None
Lot
0.1607 acres, 6,998 square feet, Size: 6,998
Parking
6 totals parking, None
Pool
None
Property
Zoning: RD 1.5-1-O
Spa
None
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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.
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