Residential Income, California | Page 2 -001-11-30T00:00:00-08:00
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9949 Sepulveda Boulevard

Price: $9,650,000
Units Total: 42
Lot Size: 37,462
Living Area: 32,162
Year Built: 1979
Parking: Yes
Days on Market: 203
Description: PRICE REDUCED AS SELLERS HAVE FOUND A PLACE FOR THE EQUITY TO GO! The Montecito North and South is a 42 unit Non Rent Controlled Apartment Community in Mission Hills (Los Angeles) California. Consisting of two separate buildings and lots, 9949 Sepulveda is a 23 unit apartment building and 9969 Sepulveda is a 19 unit apartment building. Both properties have had the earthquake retrofit work completed. Featuring Studios, One Bedroom (3 are Townhouses), Two Bedroom One and Two Bath the unit mix is well balanced. Each building has a laundry room and there are a total of 81 parking spaces, both tuck under and open, for the tenants. Tremendous rental upside exists as The Montecito North and South can have unit interiors upgraded and rents increased.

Los Angeles, 2731 BEVERLY

Price: $9,600,000
Units Total: 66
Lot Size: 6,827
Living Area: 24,795
Year Built: 1927
Parking: Yes
Days on Market: 134
Description: Gorgeous prominent 4 story property in the area is referred to as “Rampart Village” and is quickly becoming the new Echo Park and Silverlake. This property has undergone major renovations including new copper plumbing, new waste lines, updated electrical system, restored lobby and common areas, updated windows, and many renovated units. The units are large bachelors with full bathrooms and small kitchenettes. These units are bright and have city views. The units rent like hotcakes. This is the perfect “VALUE ADD” deal as all the heavy lifting is done. As the units vacate a new owner will realize a substantial cash flow surge as the rents are 40% under value. Out of the 65 units – 35 units have been renovated!

Costa Mesa, 735 Joann Street

Price: $9,450,000
Units Total: 23
Lot Size: 39,204
Living Area: 23,403
Year Built: 1964
Parking: 43
Days on Market: 8
Description: Four Seasons is a rare 23-unit multi-family, townhouse investment offering, well located in the City of Costa Mesa. Comprised entirely of large, two bedroom / one and one-half bathroom townhouse style units, each apartment features gas forced air heating, one covered parking space, one open space, washers and dryers in select units, and access to a large central courtyard with a pool. The configurations of the 4-building courtyard-style property exterior, and the large townhouse unit interiors, provide a new owner the opportunity to simply stabilize the existing revenue stream or potentially implement a comprehensive renovation program that will lead to top-market rents. The unit-count, physical attributes, and micro-location of this property will remain attractive to tenants and investors alike for many years to come. Salient Features ** Extremely High Demand Rental Location – 2.5 Miles from the Pacific Ocean **14.7 GIM and 4.2% Capitalization Rate at Market Income ** Very Rare Mid-size Property Offering on the Westside **100% – 2 Bedroom / 1.5 Bath Townhouse Units – 1,015 sq.ft Each ** Legitimate Value-Add Investment in a Very Supply Constrained Coastal Market

Norwalk, 12235 Alondra Boulevard

Price: $9,450,000
Units Total: 37
Lot Size: 15,590
Living Area: 23,497
Year Built: 1964
Parking: 0
Days on Market: 1
Description: Offered is a 37 unit apartment complex in the City of Norwalk. The property sits on 2 parcels totaling over an acre of land and offers tenants a gated pool, patio, BBQ area, gated parking, security entrance and an on site laundry facility. Many of the unit interiors have been upgraded with new dual pane windows, flooring, granite counter tops, appliances, vanities and resurfaced kitchen cabinets. The units have new individual air conditioning units and are separately metered for gas and electricity. The property has 11 tuck under and 41 open parking spaces. Norwalk is a densely populated city with a population of over 100,000 people. The city is located approximately 17 miles south east of downtown Los Angeles and enjoys easy access to the 605,5, 105 and 91 freeways along with numerous public transportation options.

425 South DETROIT Street

Price: $9,395,000
Units Total: 24
Lot Size: 7,840
Living Area: 20,272
Year Built: 1928
Parking: 0
Days on Market: 16
Description:

770 PASEO MIRAMAR

Price: $8,880,000
Units Total: 1
Lot Size: 20,766
Living Area: 7,000
Year Built: 2013
Parking: Yes
Days on Market: 139
Description: Rare opportunity to purchase this incredible income-producing property, currently leased for a PHENOMENAL $50K / MONTH (with an option to extend for up to 10 years). In addition, seller may work with BITCOIN / CRYPTOCURRENCY holders as a means of purchasing property (inquire with agent for more information)! This meticulously crafted and newly built Architectural home is designed by renowned architect Anthony Zubick, AIA. This gated and private 7 Bed, 9 Bath entertainer’s home offers unobstructed ocean views from the Queens Necklace to Downtown. A thoughtfully designed floor plan offers panoramic views from nearly every room. Chef’s kitchen featuring Wolf and Miele appliances seamlessly flows to dining and family rooms. Floating staircase leads to 4 bedrooms and a luxurious master wing w / dual closets, wrap around deck and world class master bath. Pocketing Fleetwood doors open to an expansive flat yard w / a full kitchen, pool and spa, fire pit, mature trees, and more. SMART HOME by Crestron.

3206 Avenida Del Presidente

Price: $8,800,000
Units Total: 22
Lot Size: 23,222
Living Area: 18,558
Year Built: 1987
Parking: 46
Days on Market: 16
Description: This is an exceptionally rare opportunity to own a midsize apartment complex in San Clemente. There are approximately 8 buildings in all of San Clemente between 20-30 units and they rarely come available for purchase. This building has been owned and operated by the current ownership since 1987, when the property was built. Over half of the units receive ocean views and its proximity to San Clemente State Beach makes this location a highly desirable rental spot. The current rent levels are estimated to be 25-35% below market rents depending on the amount of improvements someone intends to perform. Through upgrades to the interiors as well as cosmetic improvements to the exterior, an investor can realize significantly higher rent levels which will increase the cash flow and substantially improve the value of the property. The increase in equity will far outpace the cost to achieve the higher income. *Ocean View, 1987 Construction Apartment Units, *First Time on Market-Original Owner, *Majority 2 and 3 Bedroom Units, *Incredible Location near San Clemente State beach and Calafia park, *Over 2: 1 Parking Ratio; *Garages and Carports, *Massive Upside in Rents

Palm Desert, 40890 SANDY GALE Lane

Price: $8,772,000
Units Total: 51
Lot Size: 475
Living Area: 47,725
Year Built: 1985
Parking: Yes
Days on Market: 90
Description: Pacifica Real Estate Services, Inc. Is offering 51 condominiums for sale within the 100-unit, resort-style Royal Palms community in Palm Desert, California. The property was built in 1985 and just underwent a major common area and unit renovation in 2017-18; the common area improvements include newly-resurfaced swimming pools, new patio furniture, and water-efficient desertscape; the extensive unit improvements include new cabinets, stone countertops, lighting fixtures, electrical outlets, plumbing, wood-style tile flooring, new paint, and upgraded appliances. The 51 units owned by Pacifica and offered for sale consist of 49 two-bedroom units ranging from 925 to 1,200 sq.ft and two one-bedroom units with 750 sq.ft. With a per-unit sale price of $172,000, these beautifully renovated units are a great investment opportunity, well below the $250,000 sales price they commanded when sold individually in 2006.

Glendale, 1165 Thompson Avenue

Price: $8,400,000
Units Total: 18
Lot Size: 20,086
Living Area: 21,145
Year Built: 1969
Parking: 23
Days on Market: 38
Description: We are pleased to introduce the Thompson, an 18 unit TURN-KEY multi-family asset, with large 1,187 S. F. Avg. Unit sizes, being offered at 3.8% in place CAP, in non-rent controlled Glendale Ca. Consisting of 78% 2 bedroom units, the Thompson provides Glendale’s most desired and in demand unit layout, with the following phenomenal breakdown of (2) 3 + 2.5 TH, (4) 2 + 2.5 TH, (10) 2 + 2, (2) 1 + 1 units, all with updated interiors. Six of the units are townhouse style w / fireplaces, central AC and heat. All units are programmed with stainless steel appliances, granite counters and back-splashes, newer cabinetry and fixtures, all have individual water heaters. Modern exterior detail and refreshed common areas lend to beautiful strong street presence. The Thompson incorporates an extensive list of capital improvements including solar panels on roof, poly-u coated reflective roof, new dual pane low-E windows and sliders, new intercom system, new gates, railings, signage thought, irrigation and landscaping. The Thompson, located at 1165 Thompson Ave Glendale, CA 91201, the asset is in the best part of the city. North of Glenoaks Blvd and the last apartment building before transitioning to strictly single-family homes w / median sales price of $836,000. * Contact listing agent for complete offering memorandum *

11752 SATICOY Street

Price: $8,200,000
Units Total: 35
Lot Size: 36,850
Living Area: 22,462
Year Built: 1979
Parking: 0
Days on Market: 55
Description: Hard-to-Find Non Rent Control Asset~ Significant and Immediate Upside~ Property Exempt From Earthquake Retrofit Requirements~ New Electrical~ New Plumbing~ Newer Roof – About Five Years Old~ All Units Are Individually Metered for Water~ All Units Are Individually Metered For Electricity And Gas~ New Wall Heaters in Units~ New Tank less Water Heaters, 500,000 BTU Each~ Laundry Machines Owned and Operated By Sellers~ Many Units Have Been Redone With New Appliances AndInterior Appointments~ Parking Lot Recently Repaved

Glendale, 427 West Dryden Street

Price: $8,100,000
Units Total: 26
Lot Size: 21,499
Living Area: 19,562
Year Built: 1962
Parking: 0
Days on Market: 167
Description: Significant Price Reduction! Incredible opportunity to purchase 26 units in prime North Glendale. This property is being offered for sale for the first time since construction. Lovely pool and courtyard area, tremendous income potential.

8225 FOUNTAIN Avenue

Price: $7,999,999
Units Total: 8
Lot Size: 7,995
Living Area: 9,330
Year Built: 1926
Parking: 6
Days on Market: 147
Description: *Patio del Moro / 7 Luxury Units in West Hollywood*On the National Register of Historic Places since 1986*A true West Hollywood Landmark*Located within the Harper Avenue Historic District*Once in a lifetime opportunity for ownership*Current Mills Act application for tax abatement*Built in 1925 by architect Arthur and Nini Zwebell*Andalusian Style building*Superior unit mix of 1 to 3 Bedroom Units*Large Units ranging from approximately 1,000-1,725 SF*9,330 sq.ft of building improvements*7,995 sq.ft lot*3 story building*Intertwined private terraces and patios*Juliet balconies, private outdoor spaces*Tremendous 25% upside in rents*Potential for condo conversion*Property is in excellent condition, attributed to the love of the building’s previous owners*Former home of Charlie Chaplin, Humphrey Bogart and other historical celebrities*Listed at a 3.29% cap rate on actual income utilizing the Mills Act Tax Abatement

Los Angeles, 2716 ELLENDALE Place

Price: $7,900,000
Units Total: 10
Lot Size: 16,340
Living Area: 11,650
Year Built: 2015
Parking: 0
Days on Market: 55
Description: WALKING DISTANCE TO THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC); 100% LEASED THROUGH 2018-2019 ACADEMIC YEAR CBRE, Inc., as exclusive agent is pleased to present the opportunity to acquire the leasehold interest in a 10-unit townhouse apartment community located within walking distance of the University of Southern California (USC). The Property consists of two structures: A fully renovated 4-unit vintage Craftsman House and a newly constructed 6-unit building completed in 2015. Located at 2716 and 2718 Ellendale Place the Property features two buildings with 10 separate townhouse units, 32 one-bedroom suites, and 30 bathrooms. The Property offers best-in-class finishes throughout, including hardwood floors, high ceilings, modern cabinetry, quartzstone countertops, tile showers, stainless steel appliances and in-unit washers and dryers.

Laguna Beach, 150 Cress Street

Price: $7,800,000
Units Total: 3
Lot Size: 6,970
Living Area: 2,605
Year Built: 1955
Parking: 6
Days on Market: 6
Description: Cress Street Villas is a 3-unit multifamily investment property located in Laguna Beach, one of the premier coastal housing markets nationwide. Cress Street Villas is currently being operated as short-term rentals with an active transferable AUP (administrative use permit). Built in 1920 and 1955, Cress Street Villas offers investors the opportunity to capitalize on strong market trends, capture a prosperous tenant base, and exceptional renovations that should increase rental income by approximately 10 percent. Situated on a 0.16-acre lot, the 2,605 square foot property consists of two-bedroom and three-bedroom villas offering ocean views. Cress Street Villas offers an attractive range of amenities including spacious patios with outdoor seating, BBQ area, and ocean views, gated access, in-unit laundry; and garage parking and open parking. Cress Street Villas is just steps from Laguna Beach.

Beverly Hills, 9969 Durant Drive

Price: $7,800,000
Units Total: 5
Lot Size: 8,800
Living Area: 0
Parking: 0
Days on Market: 31
Description: Price Includes Two Separate Adj. Properties on two sep. Lots. A once-in-a generation opportunity to purchase two rare, high-demand, adjacent multi-family properties in prime Beverly Hills on a coveted double lot (two separate APN. ‘s) on a lovely wide street just behind The Peninsula Hotel and within close proximity to Century City. One property is a remodeled and spacious Triplex and the second one was a duplex that has been turned into a most charming single family residence with a well thought out floor plan. In addition to being highly coveted multi-units, the subject properties are also zoned BHR4YY with a potential to build 8-units or more (Buyer to verify). Both properties to be sold together. Ideal for Owner User / Investor / future potential development. Location, Location, Location!

Beverly Hills, 405 SHIRLEY Place

Price: $7,775,000
Units Total: 11
Lot Size: 13,836
Living Area: 13,122
Year Built: 1948
Parking: Yes
Days on Market: 59
Description: Buildings on this scale are rarely found in Beverly Hills – and even more rarely offered for sale. This one has been a single family’s heirloom for over half a century. Measuring 13,122 sq.ft on a 0.32 acre lot, it features ten large two-bedroom, two-bath units and one studio. Located at the edge of Century City, the address is moments from Beverly Hills shopping and dining and two blocks from Roxbury Park. The building wraps around a leafy brick gated courtyard. It’s filled with wonderful charm and original details inside and out, from decorative wrought iron railings and leaded glass sidelights to gleaming oak floors, large multi-paned windows and original bathroom tile. Individual covered parking spaces are included. This is a most unusual opportunity to own a large, well-maintained legacy income property in a peaceful, coveted Beverly Hills location. Do not disturb tenants.

1117 South BEDFORD Street

Price: $7,750,000
Units Total: 15
Lot Size: 12,792
Living Area: 19,212
Year Built: 1961
Parking: Yes
Days on Market: 8
Description: 1117 S. Bedford Street, built in 1961, is a 15 unit building located in the growing Olympic / Robertson neighborhood just 2 blocks adj. To Beverly Hills zip code 90211. The building is minutes away from world class shopping on Rodeo Drive, Beverly Center, the original Farmer’s Market and the nightlife of West Hollywood. The unit mix consists of (12) 2Bed / 2Bath and (3) 3Bed / 2Bath units with excellent curb appeal. There are 19,212 sq. Ft. Of building, huge units and approximately 40% upside in the rents, making this the perfect value add opportunity. Several units are undergoing substantial capital improvement and will be delivered vacant for new owner to rent at market rents. Soft story retrofit is paid for and will be completed by the Seller. 1117 S. Bedford is an ideal multifamily investment for an owner who wants a building in a prime location with huge upside.

Sherman Oaks, 4646 Natick Avenue

Price: $7,600,000
Units Total: 20
Lot Size: 14,245
Living Area: 26,910
Year Built: 1968
Parking: 0
Days on Market: 35
Description: We are proud to represent this 18 unit plus 2 additional non-conforming units apartment building in Sherman Oaks. The non conforming units are in the process of being legalized with the city with permits expected in 2018. The building was constructed in 1968. Its unit mix consists of (3) one-bedroom, one-bathroom units, (9) two-bedroom, two-bathroom units, (2) two-bedroom, two-bathroom and a den units and (4) three-bedroom and two-bathroom units (converted from 2 + 2 + den units). With a lot size of 14,245 sq.ft, the property has a total of 26,910 rentable square feet. There are (2) non confirming units that bring in an additional $1000 each per month. There is an existing loan in the approximate amount of $3,500,000 that was originated in 2015. The loan is at 3.35% interest that is fixed until October 16,2020. The property is situated in a prime Sherman Oaks area, which has a comfortable blend of urban and suburban amenities. Along with sunny, clean sidewalks, the city offers many hip cafes and shops — especially on Ventura Boulevard, which features the Sherman Oaks Galleria and many upscale restaurants. Residents also have easy access to the 405 and 101 freeways. The building’s amenities include an indoor pool, balconies, central HVAC units, secured parking, and lush landscaping. It is separately metered for gas and electricity

Los Angeles, 454 KELTON Avenue

Price: $7,500,000
Units Total: 16
Lot Size: 15,918
Living Area: 12,982
Year Built: 1950
Parking: 0
Days on Market: 3
Description: 454 and 460 Kelton Avenue is a rare opportunity to acquire side by side pride of ownership properties (8 units each) in one of the best rental locations in prime Westwood Village.   A short stroll to the UCLA campus, the properties will be delivered with 7 out of 16 units vacant, allowing the astute investor to immediately capitalize on setting high market rents. Excellent unit mix consisting of 4 studios, 10 one bedroom one bath units, and 2 two bedroom 1 bath units. On-site parking consisting of 12 side by side parking spaces and NO soft story required. 454 and 460 Kelton Avenue are situated on separate parcels (each with its own APN). No on-site manager requirement. Ideally situated on a very large 15,918 square foot lot zoned R4 (q), the Kelton properties are ideal for a developer to build a new 20 unit luxury development (Buyer to verify), and the unique opportunity to command the highest market rents in one of the best rental locations in all of Los Angeles.

16562 Grimaud Lane

Price: $7,488,888
Units Total: 3
Lot Size: 13,200
Living Area: 3
Year Built: 1979
Parking: 5
Days on Market: 29
Description: ” Once In a Lifetime Opportunity To Own a Massive Waterfront Compound with 3 Structures ” Two residences Totally 9 Bedrooms AND 9 Bathrooms, Two Kitchens, Plus Guest House! Walk to the surf. Park your 120’yacht with ease on the brand new private dock in front of this well-appointed waterfront compound just 15 minutes to the open ocean and a short walk to the beach. Situated in a private and exclusive community, this unique property affords not one, but two incredible waterfront houses, and a third private guest house. Step inside the gated courtyard and discover beautifully manicured grounds with blooming flowers, a serene fountain and a tranquil pool and spa. Each home features a main floor bedroom and full bath and added powder room, while upstairs boasts spacious master retreats with private balconies and harbor views. This home is situated off the main channel in a premier location, making it both peaceful and easily accessible, with ample street parking to accommodate guests. This unique compound makes an ideal home for extended family, offering close proximity but with ample personal space. One of the homes has had extensive upgrades and a fully remodeled kitchen, ideal for indoor / outdoor entertaining boasting 3800 sq.ft of interior living space. The other home affords a blank slate with a 3600 sq.ft welcoming floor plan. This property offers convenient easy access to restaurants, shops and Sunset and Seal Beach.

Sherman Oaks, 4510 Colbath Avenue

Price: $7,380,000
Units Total: 22
Lot Size: 21,156
Living Area: 17,936
Year Built: 1963
Parking: Yes
Days on Market: 37
Description: 4510 and 4520 Colbath Avenue in Sherman Oaks includes two side by side apartment buildings on separate parcels combining for twenty two total units. Consisting of six 1 + 1s, fourteen 2 + 2s and two 3 + 2s, five units have undergone a complete remodel including new brushed nickel plumbing fixtures, drains, supply lines, water lines, porcelain tile in kitchens and bathrooms, paint, scraped ceilings, custom white wood and self closing kitchen and bathroom cabinets, charcoal quartz countertops, white subway tile backsplashes in the kitchen and shower area, stainless steel appliances (refrigerator, dishwasher, stove and microwave), light fixtures, recessed lighting, updated electrical and waterproof laminate flooring. Other property upgrades include new storefront glass door entries, front awnings, exterior paint and landscaping touch ups. There is a laundry room in each building with seller owned equipment, garage parking at the front of the buildings and additional covered parking at the back

Hermosa Beach, 538 8th Street

Price: $7,250,000
Units Total: 10
Lot Size: 6,483
Living Area: 9,083
Year Built: 1971
Parking: 16
Days on Market: 7
Description: 538 8th Street, Hermosa Beach is a once in lifetime 10-unit apartment building located in the sand section just five blocks from the beach with proximity to Hermosa Beach, Redondo Beach and Manhattan Beach piers. This well-kept property is located west of Valley Drive and consists of four levels, two of which are dedicated to living space, a subterranean parking garage, and an expansive rooftop deck with ocean and valley views. The building has 9,083 sq.ft on 6,483 sq.ft lot of land (0.02 Acres) zoned R3. The apartment unit mix consists of nine 2-bedroom units and one 1-bedroom unit. Each unit comes with gas range, refrigerator and dishwasher. Each unit also has a balcony deck some of which have valley and ocean views. The property has five assigned tandem parking spots and five assigned single parking spaces as well as one guest spot for a total of 16 parking spots on the property. The property also has a dedicated laundry room with two washers and two dryers, storage room and an interior bicycle storage area. Boasting an excellent walkscore of 88, tenants have access to many amenities including the greenbelt, Hermosa Beach restaurants and shops and the Redondo Beach harbor. For families, this property also provides proximity to several award Hermosa Beach schools as well as Mira Costa High School and Redondo Union High School. Six out the ten units are currently on month-to-month tenancy.

1398 North Sierra Way

Price: $7,200,000
Units Total: 68
Lot Size: 144,183
Living Area: 53,776
Year Built: 1949
Parking: 0
Days on Market: 101
Description: Highlights; Competitive Offering Actual CAP Rate of 5.84 %, with a ProForma CAP Rate of 6.57 %, Offering Actual GRM of 10.49, with a ProForma GRM of 9.68 / Rental Comparables Illustrate a 98 % Occupancy Area. Rental Survey Completed 03/05/2018., $1,000,000 In Recent Property Improvements and Renovations Under Current Ownership. 60% of the Units Have Been Completely Renovated., Conservative 10% Upside in Potential Rental Income. Achieved through continued implementation of Government approved and funded programs., Currently only 30% of the Tenants are in Government funded program, allowing for future growth., 4 Units Have Fire Damage and Are Currently Under Complete Rehabilitation. Units to be Delivered per Seller in 100% Rent Ready Condition. The Mountain view manor apartments are located on a sprawling 3.31 acre lot. The property is composed of 10 + buildings, outbuildings, and cover parking structures for all units. This 68 unit apartment community possesses an attractive unit mix of 35 one bedroom / one bathroom units, 1 one bedroom / one and a half bathroom unit and 32 two bedroom / one bathroom units. Over 60% of the units have been completely renovated. Recent property improvements by current ownership exceed $1,000,000 and have been outlined below. Capital Improvements and Renovations: New Interior Paint New Flooring in units New Kitchen Cabinets and Countertops New Appliances New Bathroom Cabinets Updated Exteriors Exterior Paint and Fascia Improvements

Fullerton, 210 South Brookhurst Road

Price: $7,200,000
Units Total: 24
Lot Size: 60,984
Living Area: 14,844
Year Built: 1953
Parking: 24
Days on Market: 143
Description: Well maintained property professionally managed for over 20 years. This group of 6 4-plex’s is easy to rent and low maintenance for the owner. 100% occupied with a waiting list. Only strong offers will be considered. The owner’s are currently in the process of installing a new roof. The property was repiped for water and gas in 2004, new sewer lines installed 2010, complete rewire 2007/2008, parking lot slurry sealed in 2013.