Residential Income, California | Page 2 -001-11-30T00:00:00-08:00
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Marina del Rey, 3806 OCEAN FRONT

Price: $7,650,000
Units Total: 2
Lot Size: 3,641
Living Area: 4,521
Year Built: 1968
Parking: 6
Days on Market: 95
Description: Rare opportunity to own an OCEAN FRONT DUPLEX on the Marina Peninsula! Built in 1968, all units have been remodeled and feature unobstructed ocean views. Unit #1 is on the ground floor and has direct access to the beach. Unit #2 is located on the second floor with floor to ceiling windows overlooking the ocean. Both ocean front units have fireplaces in the living room. There are two guest rooms in the rear of the building on the second floor. All units will be delivered vacant. The building has brand new heating and air conditioning.

9237 Wakefield Avenue

Price: $7,600,000
Units Total: 12
Lot Size: 31,500
Living Area: 22,200
Year Built: 2017
Parking: 30
Days on Market: 69
Description: BRAND NEW 2017 CONSTRUCTION. Property is comprised of 12 detached SFR homes, each approximately 1,850 sq.ft with 4 bedrooms and 3.5 bathrooms and two-car direct-access garages. Many luxury finishes, including: laminate wood flooring, quartz counters in kitchen and bathrooms, shaker cabinets with soft-close drawers, Grohe plumbing fixtures, glass mosaic tile backsplashes, and stainless steel appliance package. The property is conveniently situated near many retail, dining, and entertainment options. Nearby Sepulveda Recreation Center, Hansen Dam Recreation Center, and Sepulveda Basin Recreation Area offer hundreds of acres of open space, including large grassy areas, playgrounds, sports and swimming facilities, and paths for walking and biking. Central location near the 5,405,210,118, and 170 Freeways as well as Metrolink stations means convenient access throughout The Valley and Greater Los Angeles. The property is in the final stages of construction and CofO is expected by the end of February 2018.

Los Angeles, 1231 South Bundy Drive

Price: $7,061,250
Units Total: 16
Lot Size: 12,168
Living Area: 13,907
Year Built: 1970
Parking: Yes
Description: Prime Brentwood 15 unit consisting of six 1 + 1s, six 2 + 1.75s, two 2 + 1.75 + den and one 3 + 1.75. Almost all of the units have been remodeled or renovated in some fashion and feature a spacious floor plan, balcony or private patio and wall A / C unit. The building is separately metered for gas and electricity, has a laundry room (leased equipment) and intercom entry system. Covered parking is at the front and rear of the building and is subject to the LA Soft-Story Retrofit Program ordinance with an initial compliance date of 11/3 / 2018. This property is part of a larger Westside apartment building portfolio consisting in total of 99 units and listed for sale at $46.9M. Properties can be purchased together or separately. CLICK ON PRIVATE REMARKS FOR SALE PROCESS INFO.

Long Beach, 2333 East 5th Street

Price: $7,000,000
Units Total: 22
Lot Size: 13,008
Living Area: 13,996
Year Built: 1963
Parking: 12
Days on Market: 71
Description: The East Fifth Street Apartments is comprised of two buildings consisting of eighteen-one bedroom units, four-two bedroom units, twelve private garages and a well-maintained central courtyard. The property has 19 of the 22 unit remodeled with high end finishes–offering investors a turn-key asset. The building is located in the trendy Retro Row neighborhood and walking distance to 4th Street restaurants, coffee shops, shopping and nightlife venues.

1326 LONDONDERRY VIEW Drive

Price: $6,950,000
Units Total: 9
Lot Size: 9,122
Living Area: 10,502
Year Built: 1938
Parking: Yes
Days on Market: 161
Description: ICONIC apartment community located above Sunset Boulevard in the WORLD CLASS Sunset Plaza neighborhood at 1326 Londonderry View Drive, Los Angeles, CA 90069. Built in 1938, the offering is comprised of Nine (9) apartment homes encompassing + / -10,502 sq.ft plus + / -2,000 of enclosed patios. Features an unparalleled unit composition of Singles, One, Two and Three Bedroom Units. The common areas feature flagstone courtyard with fountain, ornate woodwork, elevator service, and parking. Property to be sold in conjunction with adjacent unpriced Single Family Homeat 1328 Londonderry View Drive (2,074 sq.ft Improvements, 12,033 sq.ft Land, Zone LAR1)

Los Angeles, 1722 GARFIELD Place

Price: $6,700,000
Units Total: 24
Lot Size: 9,500
Living Area: 14,312
Year Built: 1924
Parking: 0
Days on Market: 229
Description: Beautiful character building and value-add opportunity in Hollywood. The property has undergone substantial improvements in recent years and still has substantial upside in rents. Common areas have been renovated to expose and restore beautiful hardwood flooring. The interior and exterior was repainted to enhance the appearance and add character. A camera surveillance system was installed and the buildings power system was upgraded from 110 amps to 400 amps. Cast iron plumbing was also upgraded to copper.

Whittier, 14149 Mulberry Drive

Price: $6,588,000
Units Total: 26
Lot Size: 42,253
Living Area: 19,448
Year Built: 1956
Parking: 0
Days on Market: 135
Description: Mulberry Drive Apartments is a 25 + 1* unit multifamily investment property located in the city of Whittier California. Situated on a 0.97-acre lot, the 19,448 square foot property consists of studio, one-, and two-bedroom floor plans averaging 748 sq.ft. Built in 1956, the property offers an attractive range of amenities including covered carport parking, a large central courtyard, a swimming pool, and an on-site laundry facility. *One studio unit is non-conforming

28718 Old Town Front Street

Price: $6,500,000
Units Total: 1
Lot Size: 28,750
Living Area: 7,000
Year Built: 1989
Parking: Yes
Days on Market: 1398
Description: Located right at the South entrance of the Old Town Temecula, Rodeway Inn Temecula is a bed and breakfast-style hotel with 39 meticulously clean rooms and a beautiful swimming pool. The hotel has a strong profit record and there may even be room for further expansion. It is within walking distance of festivals, antique shops, Children’s Museum, night life activities, family diners, bars, fine restaurants and many wine tasting rooms in the famous Western frontier style old town. The hotel is also within short driving distance to 44 + large, medium and boutique wineries on Rancho California Rd and De Portola Rd Wine Trail in the most famous wine country in SoCal, the CrossCreek Golf Club up in the Santa Rosa plateau and many area tourist attractions such as Lake Skinner, Diamond Valley Lake, Lake Elsinore, Pechanga Casino, Pala Casino, hot air balloon paunch pads and Galway Downs horse eventing show ground as well as the Temecula Valley Polo Club. It is one of Southern California’s main year-round tourism centers.

Long Beach, 1405 Lewis Avenue

Price: $6,500,000
Units Total: 20
Lot Size: 17,496
Living Area: 34,000
Year Built: 1920
Parking: 20
Days on Market: 154
Description: AKA: 1000 New York St, This the The Vault Warehouse This is a once in a Lifetime opportunity to own a solid concrete, built like a bomb shelter and anchored with a 400 Square foot bank vault, 8 foot wide by 16 foot long freight elevator converting to a 4 story Artist Loft building. Built in the early 20’s, no expense was spared in building this Fireproof Storage Warehouse. Even the wide open deck of the 5 level rooftop is solid concrete and can accommodate loads. The rooftop is 7000 sq.ft. Each unit is also built to commercial fire code. The interior separation walls are either red brick, concrete or steel studs with double 5/8″ fire rated walls. This is a trophy property and your chance to make a difference in the artist community. All units are subject to the Administrative Use Permit. Tenants will have a license in the world of fine arts. All Tenants. There is a 6000 sq.ft INDOOR LOADING DOCK! Used for parking, it has direct access to the freight elevator and to a 1400 sq.ft bonus room. The owners unit / office is 3500 sq.ft, is 3 levels, and includes the bank vault as part of the layout. It has a giant original fireplace, massive 17 foot ceilings and so much more! Power includes a new 3 Phase 800A service with 200A 3 Phase on each floor!

Bell Gardens, 7947 GARFIELD Avenue

Price: $6,488,000
Units Total: 16
Lot Size: 29,303
Living Area: 16,530
Year Built: 1989
Parking: Yes
Days on Market: 171
Description: This beautiful property consist of 3 bedrooms 2.5 bathrooms 2 car garage attach laundry hook ups, earth conditioning unit and force ear, and two stories condominium style.

6607 North FIGUEROA Street

Price: $6,100,000
Units Total: 20
Lot Size: 16,516
Living Area: 14,507
Year Built: 1963
Parking: Yes
Days on Market: 22
Description:

Lawndale, 14517 Larch Avenue

Price: $6,100,000
Units Total: 20
Lot Size: 21,840
Living Area: 17,444
Year Built: 1961
Parking: 24
Days on Market: 23
Description: 14517 Larch Avenue is a beautifully renovated twenty-unit apartment building that is not subject to rent control, and has considerable upside for a new owner. Built in 1961, the property sits on a very large 21,839 square foot lot and has an impressive 17,444 rsf. Each apartment has been upgraded to varying degrees. Depending on the unit, these improvements may include: vinyl plank flooring, stainless steel kitchen appliances, modern kitchen cabinetry / fixtures, granite countertops, new paint schemes, bathroom sinks and tubs, chair railing, crown molding and updated lighting fixtures and ceiling fans. Common areas have also been enhanced with a new stone wall veneer and two beautifully landscaped garden courtyards. Additionally, there are reinforced handrails and newer decking and paint. There are 16 covered parking spaces, 4 enclosed garage spots, and 4 uncovered spaces. The property has on-site laundry facilities. 1 unit is currently being operated as a 3 bed / 2 bath unit. Each unit is individually metered for both gas and electricity, with the building having 22 gas meters and 21 electric meters. There are also two, newer 100-gallon water heaters. Though the property has been upgraded considerably, there is still much potential upside in current rents; many units in Lawndale are asking considerably higher rents. It is very rare to find an asset like this available for purchase in the South Bay and Lawndale.

Studio City, 11145 SUNSHINE Terrace

Price: $6,050,000
Units Total: 8
Lot Size: 12,165
Living Area: 14,180
Year Built: 2009
Parking: Yes
Days on Market: 286
Description: We are pleased to introduce 11145 Sunshine Terrace, located in Studio City, CA. This is a rare opportunity for an investor to acquire a trophy apartment building in the hills of Studio City. This 2009 construction building is not subject to rent control. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. This property lacks direct competition in its immediate area. The minimum home rental price in the immediate area hovers around $5,500. There is plenty of room between that price and the building’s current rents, which provides plenty of upside to be capitalized upon. These 3 bedroom 2.5 bath townhomes are condo mapped, with several layouts, and were originally built to be sold individually. This presents a new owner with an opportunity to hold onto these units as a rental property or to individually spin them off when market pricing is optimal.

Los Angeles, 3094 San Marino Street

Price: $5,999,000
Units Total: 2
Lot Size: 17,717
Living Area: 8,641
Year Built: 1922
Parking: 2
Days on Market: 6
Description: Location, Location, Location! Beautiful Redevelopment opportunity with 3 adjacent lots in the middle of Koreatown. They are 3904 San Marino Street (Duplex), 3100 San Marino Street (Duplex) and 3106 San Marino Street (6units). Total lot size is 17,717 sq.ft. They are zoned R4-1.3094 San Marino and 3106 San Marino are fully tenant occupied. Owner and tenant share the house in the other duplex. They should be sold ‘AS-IS’ in its present condition. Buyer has to verify all information and permits to their own satisfaction and rely on their own findings. Please do not walk the premises and do not contact the tenants. These properties are also for sale in Land section as Listing ID PW18036044

Manhattan Beach, 127 21st Street

Price: $5,998,000
Units Total: 2
Lot Size: 2,706
Living Area: 2,252
Year Built: 1985
Parking: 7
Days on Market: 8
Description: A rare and exciting opportunity to purchase this South facing duplex just 5 houses from The Strand. Located in prestigious Manhattan Beach, this 90′ x 30′ lot is zoned to build 2 town homes, one SFR, or Hold as a duplex. Currently, the upper unit is 3bd / 2ba and the downstairs unit is 2 bd / 2ba. Both units have hardwood floors in the main living areas, carpet in the bedrooms and each unit also has a fireplace. The building was extensively remodeled around 1985. Under the same ownership since 1972, the Sellers have always enjoyed 100% year round tenancy. Current rents are well below market value. In addition to the 2 car garage, there are 5 more off-street parking spots; 2 in the driveway in front and 3 in the back with street to alley access. This street is the perfect location to enjoy all of Manhattan Beaches’ attractions as well as a short commute to the Westside. The Sellers have taken great pride in ownership for 46 years and are passionate about passing it on to you!

Pasadena, 131 North Craig Avenue

Price: $5,990,000
Units Total: 13
Lot Size: 18,007
Living Area: 14,919
Year Built: 1987
Parking: 28
Days on Market: 15
Description: Incredible corner lot tri-level 13 units town home style apartment located in SE Pasadena walking distance to Pasadena City College, Metro Gold line Allen Station and all shopping conveniences. Between Colorado Blvd and Foothill Blvd, built in 1987, updated, typically with a fireplace in the living room. Laminated hardwood floors. Porcelain tiles in the kitchen and bathrooms. Direct access from the private two-car attached garage with center common driveway. Two bedroom suites in the third level. Granite counter tops for kitchen and bathrooms. Central A / C and heat. Refrigerator, microwave oven (most units), dishwasher, garbage disposal, washer and dryer included. Fully fenced front porch. Well landscaped with sprinkler system. Gutters. Eleven units are 2 bedrooms 2.5 baths and two front units are 3 bedrooms, 2.5 baths. Six units have been retro fitted with new Milgard low E double panned windows. Roof is less than two years old with 10-year guarantee. Do not disturb or approach tenants. Viewing only with an accepted offer.

Cudahy, 5142 Live Oak Street

Price: $5,899,000
Units Total: 12
Lot Size: 40,519
Living Area: 23,404
Year Built: 2008
Parking: 44
Days on Market: 69
Description: 5142 – 5150 1/2 Live Oak Street is a 12-unit apartment community in Cudahy, California. The property is located east of Wilcox Avenue, conveniently near the 710 Freeway and just steps from Ellen Ochoa Learning Center, a public school that serves students from kindergarten through eighth grade. The offering is a 2008 construction that has been well-maintained and comprises five buildings on a large 40,519-square foot lot. The buildings contain a total of two three-bedroom / two-and-one-half-bath units and 10 four-bedroom / two-and-three-quarters-bath units that average approximately 2,000 sq.ft. All units feature a larger-than-average attached two-car garage that measures 25 x 20, a balcony and a backyard patio. The property also offers 20 open guest parking spaces. A new investor could continue to operate the property as apartments or sell the units individually, since each unit has its own parcel number. 5142 – 5150 1/2 Live Oak Street presents an excellent opportunity to own a turnkey asset.

1310 North GARDNER Street

Price: $5,750,000
Units Total: 16
Lot Size: 13,607
Living Area: 14,657
Year Built: 1957
Parking: Yes
Days on Market: 13
Description: All seismic retrofitting has been completed. Brand new roof

1701 West Balboa Boulevard

Price: $5,699,000
Units Total: 10
Lot Size: 5,227
Living Area: 7,552
Year Built: 1948
Parking: 10
Days on Market: 145
Description: RARE, DOUBLE LOT with 10 units and only 25 yards away from the sand on Balboa Peninsula. Unit mix consists of the following: one 4 bed 2 bath (has ocean views), one 2 bed 1 baths, three 1 bed 1 baths, 5 studios, and there are 10 separate garages. Professional Property Management company is handling the property with total rents are approximately $21,000 per month, this could be enhanced if new owner decides to turn property into weekly vacation rentals. All units are upgraded and updated with new kitchens and all have original wood floors that have been refinished along with newer carpet. Owner states the city of Newport Beach is open to having 7-10 condos built on the land itself thus giving an amazing opportunity for Investors, please check with City of Newport Beach. PLEASE DO NOT DISTURB ANY TENANTS, DRIVE BY ONLY, SHOWN WITH ACCEPTED OFFER.

8555 INDEPENDENCE Avenue

Price: $5,680,000
Units Total: 29
Lot Size: 30,424
Living Area: 18,389
Year Built: 1979
Parking: Yes
Days on Market: 7
Description: CALL FOR OFFERS (FRIDAY, FEBRUARY 23rd at 3: 00pm) CONTACT LISTING AGENT TO SCHEDULE PROPERTY TOUR. VALUE ADD OPPORTUNITY – RENT SIGNIFICANTLY BELOW MARKET (35% upside in rents) Matthews Real Estate Investment Services is pleased to offer for sale the Independence Apartments, a 29-unit apartment building located in Canoga Park, CA. The asset was built in 1979 and is not subject to rent control. The property has an excellent unit mix including 18 Studio units, 9 one-bedroom / one-bathroom units, 1 two-bedroom / one-bathroom units, and 1 two-bedroom / two and a half bathroom units. The property also boasts a strong amenity package including gated parking spaces (open and tuck-under), intercom entry, a swimming pool, and an on-site laundry facility, Unit amenities include central air and heat, spacious floor plans, with some units with patios and balconies.

Lawndale, 4419 West 162nd Street

Price: $5,580,000
Units Total: 10
Lot Size: 9,611
Living Area: 10,430
Year Built: 1991
Parking: 22
Days on Market: 28
Description: Incredible Location ~ Fully-occupied ~ Not in Rent Controlled area! Amazing opportunity to own this well-maintained 10-unit Apartment building in a highlv visible and central location in the heart of South Bay! Conveniently located near the border of Torrance and Redondo Beach, this well-designed complex was built in 1991 and has been well-managed ever since. With only a 10-mins drive to the beach and 15 mins to LAX, owner has enjoyed extremely low vacancy rates and can easily find new tenants when available. Each unit comprises of approx. 1043 sq.ft, with identical 2-bed / 1.5 bath floorplans. Every individual unit possesses its own laundry hookups, separate electric and gas meters, spacious living room, and various improvements / upgrades over the years. In addition, this Apartment building includes Automatic gated Parking with 22 subterranean parking spaces. Super convenient access to the 405 freeway and Hawthorne Blvd, nearby Southbay Galleria Shopping Mall, El Camino College, and plenty of incredible restaurants, shopping, amenities and much much more! Situated in a great stable neighborhood with strong demand for housing, this incredible opportunity offers nice upside for increased potential rents.

Azusa, 810 South Citrus Avenue

Price: $5,500,000
Units Total: 22
Lot Size: 27,508
Living Area: 18,084
Year Built: 1987
Parking: 40
Days on Market: 7
Description:

Los Angeles, 765 IROLO Street

Price: $5,500,000
Units Total: 24
Lot Size: 6,744
Living Area: 0
Year Built: 1929
Parking: Yes
Days on Market: 30
Description: 765 S Irolo St, a 24-unit multifamily investment opportunity in the very describable and high demand area of Koreatown. The property is located S of Wilshire, E of Western and W of Vermont Ave. It is just steps away from the Metro Purple Line station up the street. Originally constructed in 1929 in Art Deco Style, the property has been very well-maintained and features much of its original character. The property currently consists of 24 Units comprised of (22) 1 Bedroom + 1 Bathroom Units and (2) Singles.

Glendale, 421 RIVERDALE Drive

Price: $5,498,000
Units Total: 16
Lot Size: 24,997
Living Area: 7,570
Year Built: 1926
Parking: Yes
Days on Market: 62
Description: For several years, current management has been operating theasset as short term furnished rentals with all utilities included, commanding monthly rents averaging over $2,300 per unit in the last 12 months (including vacancy factor), with all utilities included. There is significant additional revenue from parking and garage income. Roughly 89% of rentals in the past twelve months have consisted of month-to-month tenancies, as management has gradually transitioned to 30-day minimum executive stays. Parking income, with all utilities except water paid by tenants. Units are separately metered for gas and electricity and haveindividual water heaters. 0 per unit in the last 12 months (including vacancy factor), with all utilities included. Th