Residential Income, California | Page 5 -001-11-30T00:00:00-08:00
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Newport Beach, 2214 West Oceanfront

Price: $4,399,000
Units Total: 2
Lot Size: 3,125
Living Area: 3,855
Year Built: 1965
Parking: 5
Days on Market: 129
Description: Situated directly in front of Blackies beach with views of the Newport Beach pier, crashing waves, and Catalina Island, this mixed-use (MU-W2) oceanfront duplex with 5 total parking spaces poses great potential and opportunity for immediate income for one lucky buyer! Thoughtfully designed, each unit enjoys a spacious deck or patio from which to enjoy sunset views or check the surf. The bottom unit boasts a great room concept floor plan in which the living room, dining area, fully equipped kitchen, and patio with dual sliding glass doors blend seamlessly to create the perfect space for entertaining and soaking in the panoramic views. Three spacious bedrooms, 2 bathrooms, multiple ceiling fans, and crown molding make this lower level the ideal place for you or a future tenant to call home. Equally impressive, the upper unit is highlighted by peaked beamed ceilings and even better unobstructed views of the sea beyond. The upper level also features an open floor plan plus 3 bathrooms and 3 bedrooms, one with an elevated reading corner. Also accessible from the upper unit is a 1,100 + sq. Ft. Bonus attic level with beamed dormer ceiling and ocean views permitted as storage space. Additional features of this incredible residence include a 2-car garage, 3 uncovered parking spaces, and a premier location at the center of Newport’s beach, dining, and entertainment scene.

Los Angeles, 503 South UNION Drive

Price: $4,395,000
Units Total: 36
Lot Size: 8,105
Living Area: 22,141
Year Built: 1924
Parking: 0
Days on Market: 8
Description: The Union Drive Apartments, situated at 503 South Union Drive, is a 1920s-constructed apartment building that contains thirty-six studio apartments. Each unit has a kitchen and bathroom. The property is three stories constructed of wood frame and stucco. Electricity is individually metered and all other utilities are master metered and paid by the owner who has recently completed several upgrades and renovations to the property. There is no on-site parking but the property is within walking distance to several major bus stops as well as the Metro station, connecting the property to Downtown, Koreatown, and Hollywood.

Panorama City, 14687 Rayen Street

Price: $4,300,000
Units Total: 20
Lot Size: 23,202
Living Area: 20,829
Year Built: 1964
Parking: 20
Days on Market: 66
Description: • All 2 and 3 Bedroom Units • Wall Air Conditioning • Excellent Rental Location • Owner Owned Laundry Equipment • Upside in Rents

920 North WESTBOURNE Drive

Price: $4,300,000
Units Total: 10
Lot Size: 6,913
Living Area: 7,660
Year Built: 1955
Parking: Yes
Days on Market: 23
Description: 10 Units in A + West Hollywood Location. 1st time on market in approx. 20 years! Excellent Value Add Opportunity w / over 50% upside in the rents. Good unit mix of one bedroom and two bedroom units. Low historical utilities expenses, separately metered for gas and electricity, onsite parking, and much more! Two of the units are currently vacant and being left vacant for Buyer.

Beverly Hills, 158 South ELM Drive

Price: $4,300,000
Units Total: 6
Lot Size: 6,070
Living Area: 5,386
Year Built: 1938
Parking: 0
Days on Market: 38
Description:

921 North WEST KNOLL Drive

Price: $4,299,000
Units Total: 9
Lot Size: 10,117
Living Area: 5,939
Year Built: 1924
Parking: Yes
Days on Market: 43
Description: Charming 9-unit Spanish-style apartment community consisting of two buildings on a 10,116 ± square foot lot in prime West Hollywood, CA. The property features a spacious courtyard and large parking area in the rear to accommodate eight cars, including seven individual parking garages plus one open space. Five of the nine apartment homes have been renovated with new kitchens (new kitchen cabinets, Quartz countertops, and stainless-steel appliances, including dishwasher, refrigerator, microwave, stove, and sink with disposal); new air conditioning (mini split system); new in-unit washer / dryer; new wood-style flooring throughout; new bathrooms featuring subway tile, glass shower enclosure, and pedestal sink with designer fixtures; new electrical panels; new drain and water lines; and new tankless water heaters. Current Cap: 3.3% / Market Cap: 5.4%. Rent Shown is for one unit only. To view Offering Memorandum and Rent Roll, see PRIVATE REMARKS for property website.

1541 College View Drive

Price: $4,280,000
Units Total: 12
Lot Size: 16,402
Living Area: 11,712
Year Built: 1962
Parking: 18
Days on Market: 179
Description: Well maintained 12 unit apartment with beautiful landscaping. Brightwood Elementary School. Huge lot. 2 units 3 bedrooms, 10 units 2 bedrooms. 4 with 1.75 baths, 8 with 1.5 baths. Some units built with balcony. Some units with patio. 8 units are 2 story, like condo style. 11 Units with updated kitchen including new counter tops and cabinets. Gated parking with 18 carport spaces. Laundry room on site. One storage room. Very convenient location. Very close to East LA College, Shopping plaza, markets and restaurants. Easy access to FWY 60,14 minutes from downtown Los Angeles. 10 minutes from California State Los Angeles University. 17 minutes from University of Southern California. High desirable rental area. No rent control.

Avalon, 257 East Whittley Avenue

Price: $4,250,000
Units Total: 3
Lot Size: 5,976
Living Area: 4,100
Year Built: 1920
Parking: 5
Days on Market: 325
Description: Capture the essence of island living in this spectacular triplex, located on magical Catalina Island, designed with the indoor and outdoor lifestyle in mind. Hint of New England seacoast to the Florida Keys or West Indies, the home combines several stylistic elements and is harmoniously blended with commanding panoramic views of the Pacific Ocean, Avalon Bay, famous Casino and historic Holly Hill House, scenic town and beautiful hillsides. Built in 1920, it has been completely remodel and redesigned, yet kept the integrity of the original home. Although a triplex with 3 distinct units; it was also designed to be one spacious main home to accommodate large numbers and combinations of guests. The lower Second unit with its circular porch, is pure New England Sea Coast with white enameled wood ceilings and fresh light colors. Features incl: 1 Master bedroom; 2 guest bedrooms, 2.5 baths, Sun Room, 1,490 sq.ft + / – and spectacular views. The upper First unit has a fantastic Great Room with incredible views. Features incl: 2 Master bedroom suites; one with full bath, the other with ¾ bath, handicap efficiency unit with kitchenette and ¾ bath, gourmet kitchen, spacious living and dining room, “See-Through” fireplace, 1,980 sq.ft + / -, and 3 decks From the Great Room the staircase climbs up through the stair “tower” to a glorious roof deck to enjoy a 360 degree panoramic view of Avalon, surrounding hills and the ocean. The 3rd unit located on the basement level has 2 bed, 2 baths, 630 sq.ft + / -, opens to the rear yard.

2007 South Coast Highway

Price: $4,250,000
Units Total: 5
Lot Size: 4,464
Living Area: 5,292
Year Built: 1922
Parking: 5
Days on Market: 34
Description: Laguna Beach 3-Story Residential Commercial Property Enjoy the Ocean View from the top floor and operate your Business on the first and second floor. This corner location is on a major business highway and would be useful to Live and Work in the same location. Don’t delay call today! Useful Mix here with 2 apartments on the top floor with an ocean view of Laguna Beach. Both apartments have been nicely updated with attractive countertops, appliances, floor cover, ceiling treatment and more. (The apartment space may have the potential to be converted to a 3 Bedroom 2 Bath Home subject to Gov approval of plans) The first and second floors include commercial space for your business or continue renting to the existing tenants. There is a stairway to Laguna beach located within walking distance from the property. This is an opportunity to Own a mixed use property with a view of Laguna Beach. This property is on the historical registry. A 3 car garage and additional paved parking are located at the rear of the main structure.

917 East Las Tunas Drive

Price: $4,218,000
Units Total: 15
Lot Size: 25,559
Living Area: 12,316
Year Built: 1962
Parking: 16
Days on Market: 256
Description: EXCLUSIVE OFFERING! INCLUDES 2 PROPERTIES: 1) 917-921 E. LAS TUNAS DR, SAN GABRIEL and 2) 5722 N. CHARLOTTE AVE., SAN GABRIEL. PROPERTY 1 IS A 9,908 sq.ft MIXED-USE W / 2 UNIT COMMERCIAL / RETAIL IN FRONT and A 12 UNIT MULTI-FAMILY IN BACK (ADDRESS: 917-921 E. LAS TUNAS DR.) . THIS PROPERTY HAS 3 SEPARATE BUILDINGS FIRST TIME ON MARKET IN 40 YEARS! 2ND PROPERTY IS A 2,408 sq.ft 2 STORY SINGLE FAMILY RESIDENCE BUILT IN 1988 (5722 N. CHARLOTTE, APN #5374-024-016). THIS 4BR / 3BA GATED HOME IS WELL MAINTAINED W / 1BR / 1BA DOWNSTAIRS. HAS 2 CAR ATTACHED GARAGE IN BACK and PLENTY OF FRUIT TREES. GREAT LOCATION! HIGH RENTAL DEMAND AREA, VERY EASY TO RENT. GREAT UNIT MIX, GOOD CASHFLOW AT 3.7% CAP RATE. UPSIDE RENT POTENTIAL, 4.1% MARKET CAP RATE. VERY CONVENIENT LOCATION, SITUATED NEXT TO 168 MARKET PLAZA. ALSO FEW BLOCKS AWAY FROM CVS, GOOD FORTUNE PLAZA, JEFFERSON MIDDLE SCHOOL, EMERSON PLAZA (TJ MAXX and DAISO), K MART PLAZA and THE NEW CAMELLA SQUARE. LOTS OF NEW DEVELOPMENTS IN THIS GROWING CITY, VERY EXCITING OPPORTUNITY!

1376 North SERRANO Avenue

Price: $4,200,000
Units Total: 14
Lot Size: 8,705
Living Area: 9,042
Year Built: 1958
Parking: 18
Days on Market: 739
Description: Serrano Apartments located in the heart of Hollywood. Upside potential, the building consists of 14 total units. 12 large one bedrooms / one bathroom and 2 two bedrooms / one bathroom. The building has undergone many recent upgrades including cooper plumbing, some units with granite counter tops and new flooring, etc. Building offers a total 9 gated parking spaces along with its own laundry onsite facility for the tenants to enjoy.

Burbank, 2317 North Frederic Street

Price: $4,200,000
Units Total: 16
Lot Size: 14,773
Living Area: 9,092
Year Built: 1951
Parking: 0
Days on Market: 229
Description: Drive by and see this very well maintained Sixteen (16) Unit apartment building in the city of Burbank, CA. This is a great opportunity for a motivated buyer and investor. This fully occupied apartment building with prompt paying tenants is composed of fourteen (14) one bedroom units and there are two independent houses at 2717 and 2719 Fredric St. Both offer two Bedrooms with sufficient parking for all units with common laundry facility. Please do not disturb the tenants. Drive by only.

Downey, 7745 Florence Avenue

Price: $4,200,000
Units Total: 18
Lot Size: 20,092
Living Area: 16,185
Year Built: 1959
Parking: 0
Days on Market: 51
Description: *Majority 2-Bedroom Units, *Excellent Exposure on Downey’s Best Rental Thoroughfare of Florence Avenue, *Covered Parking with Private Storage Lockers, * Secured Entrance, *Individually-Metered for Utilities, * Interior Courtyard, * Pitched Roof

Venice, 1520 ANDALUSIA Avenue

Price: $4,200,000
Units Total: 8
Lot Size: 5,100
Living Area: 3,336
Year Built: 1921
Parking: 0
Days on Market: 82
Description: This beautifully maintained 8 unit compound is a rare find! Steps from Abbot Kinney with its famous dining (Gjelina, SaltAir, The Butcher’s Daughter) and world-class shopping, you’re also just a few blocks from the world famous Venice Beach. Nestled around a central courtyard, each of the eight units are flooded with natural light, well appointed, and in the heart of Venice. Five of the eight units are currently vacant, and would command prime annual rents. Zoned LARD1.5, this lushly landscaped compound would be ideal for an owner / user, creative company or developer.

Redondo Beach, 508 ESPLANADE

Price: $4,200,000
Units Total: 6
Lot Size: 6,410
Living Area: 4,780
Year Built: 1963
Parking: 6
Days on Market: 39
Description: -Outstanding A + South Redondo Beach Location on the Renown Esplanade – Steps from the Pacific Ocean -Large 6,351-SF Lot, Prime for Development – 3-Unit Town-Home Site -Legacy Property that has Not Changed Ownership in Decades. Generational Asset that has Commanded Strong Historical Appreciation -Located Next to Redondo Beach Proposed Water Front Project -Consists of (1) 2-Bed / 1.75-Bath Owner’s Unit, (1) 3-Bed / 2-Bath Unit, and (4) 1-Bed / 1-Bath Units -Large 2-Bedroom / 1.75-Bathroom Owner’s Unit with Private Deck and Fireplace -Ample Parking with Garage Parking Plus One Tandem Space for Each Unit -Non-Rent Controlled Asset with Over 54% in Immediate Rental Upside

1847 North CHEROKEE Avenue

Price: $4,200,000
Units Total: 19
Lot Size: 11,249
Living Area: 8,844
Year Built: 1950
Parking: Yes
Days on Market: 35
Description: This is a rare opportunity to purchase a value-add multifamily property in the epicenter of Hollywood. The building is two stories, constructed of woodframe and stucco on a large lot with excellent zoning. Rents are well below the proven, current market rents for the area and offer tremendous upside potential. There is abundant parking and no soft story or tuck-under parking. The secured property features a laundry room, camera system and outdoor seating.

Venice, 1312 RIVIERA Avenue

Price: $4,188,000
Units Total: 8
Lot Size: 5,701
Living Area: 5,268
Year Built: 1931
Parking: Yes
Days on Market: 21
Description: Great opportunity to invest is a classic 1930’s Spanish style 8- unit property. This trophy property is situated on 2 lots and is located on the corner of Market and Riviera in Venice. There are 5 garages rented for storage that have a large upside for rental increases. The tenants have street parking. The property is about 1/2 way between Abbott Kinney Blvd and Venice Beach. 1 block to Main Street. Upgrades to the property include electrical, plumbing, sewer line and more. The property will be delivered with 2 units vacant and there is huge potential for increased value in both rental increases as well as the location itself is a huge bonus. The property is located within blocks to some of finest shops and restaurants that Venice has to offer. The beach, the shopping, and the upside potential make this a property that will move fast. Showing with offers only so not to disturb tenants. The interior photos are of the units that will be delivered vacant. Buyer to cooperate with seller

Palm Springs, 601 West ARENAS Road

Price: $4,140,000
Units Total: 14
Lot Size: 23,958
Living Area: 0
Year Built: 1957
Parking: Yes
Days on Market: 1
Description: Mid Century modern designed by Herbert Burns. This beautifully maintained resort in the Historic Tennis Club neighborhood is all about location and views. There are 14 individualized rooms from a standard studio to a two bedroom apartment with a separate entrance and cozy fireplace. Many with small, full kitchens and private patios. Rooms overlook the pool with fabulous views from each. Another rare attribute of this hotel is off-street parking for guests- hard to come by in this neighborhood. Additional amenities include a front office / reception area, guest pantry for coffee and snacks, on-site laundry, two gas grills, ice machine, and bikes for guests to use. Perfect location-walk two blocks to the heart of town. This property is currently a fully functioning boutique hotel with a long term, loyal clientele.

Manhattan Beach, 323 23rd Street

Price: $4,100,000
Units Total: 2
Lot Size: 2,705
Living Area: 3,118
Year Built: 1992
Parking: 4
Days on Market: 7
Description: Built on a 30 x 90 street to alley lot, these two detached single-family homes (2 APN’s) offer breathtaking views from Malibu to Palos Verdes. 323 23rd Street consists of 1502 sq.ft. 2 bedrooms and 2.5 bathrooms featuring a grandfathered roof deck with stunning panoramic and sunset views of the Pacific. The master bath has a large glass shower completed with spa-like tub. 324 23rd Place has 1616 sq.ft. Of living area with an oversized tandem garage. This 3 bed 2 bath has a generous living room with large fireplace, updated flooring and lots of natural light. A prime sand section location with its proximity to downtown Manhattan Beach, shopping, restaurants, and award winning Grand View Elementary. It’s a perfect hideaway from the bustling city for anyone in search of a cozy space to call home. Be the lucky one to live the true Manhattan Beach life style.

Newport Beach, 906 East Oceanfront

Price: $4,050,000
Units Total: 3
Lot Size: 3,920
Living Area: 3,255
Year Built: 1971
Parking: 3
Days on Market: 119
Description: Beautifully remodeled oceanfront triplex! White water, Ocean, Catalina Island views, spectacular sunset views. This property consists of three units with a total of 8 bedrooms and 5 baths, of 3200 total square feet on an oversized lot on the beach. Each unit shows like a dream with an open layout, neutral color palate and dedicated outdoor spaces with direct beach and ocean views, and mere steps from the beach. Amazing indoor / outdoor flow with sliding glass doors throughout, fireplaces for cozy evenings, spacious bedrooms and stylishly efficient kitchens with breakfast bar overlooking the dining area and sleek stainless appliances. There is plenty of potential for investors or a family looking to live in one and rent the two others for added income. Easy access to Marina Park, miles of great surfing beaches, bike trails, restaurants and shopping. Close to world famous surf spot, the Wedge, and one block from the Bay, Balboa and Balboa Island. This is a fantastic chance to own a vacation investment property at an excellent location.

1114 North KINGS Road

Price: $4,050,000
Units Total: 12
Lot Size: 8,276
Living Area: 9,044
Year Built: 1972
Parking: Yes
Days on Market: 44
Description:

Santa Ana, 1410 French Street

Price: $4,000,000
Units Total: 20
Lot Size: 14,810
Living Area: 10,200
Year Built: 1977
Parking: 20
Days on Market: 114
Description: 1410 French Street is a 20-unit apartment community located in the city of Santa Ana, California. Situated on a 0.34-acre lot, the property consists of 16 studio units and 4 one-bedroom units.

850 West El Repetto Drive

Price: $4,000,000
Units Total: 12
Lot Size: 17,028
Living Area: 10,776
Year Built: 1961
Parking: 20
Days on Market: 129
Description: Two buildings (#850 and #858) two parcels (5253-021-018 and 5253-021-017) side by side total 12-units apartment complex. Each building features two stories where downstairs has 3 units containing one 2/1.0 (850-A), one 1/1.0 (850-B), one 2/1.5 (850-C) and upstairs has another 3 units contains one 2/1.0 (850-D), one 1/1.0 (850-E), one 2/1.5 (860-F). The other building #858 is identical to #850 with reverse direction. Two buildings total living area is 10,776 sq.ft and two lots total size is 17,028 sq.ft. Some units features front patio / balcony / corridor. Window air conditioning in all units. 20 parking spaces where 1 bedroom tenant is assigned 1 open space and 2 bedrooms is assigned one carport plus one open space. Nice grassy courtyard in the middle of two buildings, spacious concrete parking area in back. Well maintained income properties. Convenient location easy access to Fwy 10,60 and 710. Close to schools, restaurants, banks, shops, transportation and several huge plazas. Property sold as is in its present condition. Drive by only.

Los Angeles, 4959 ROMAINE Street

Price: $4,000,000
Units Total: 20
Lot Size: 15,600
Living Area: 15,520
Year Built: 1956
Parking: Yes
Days on Market: 23
Description: 4959 Romaine St, a twenty unit apartment building, located in the heart of Los Angeles’ East Hollywood neighborhood. Built in 1951, the building consists of nineteen (19) one-bedroom / one-bathroom units and one two-bedroom / one and three-quarters bath unit. Separately metered for gas and electric, the property conveniently offers thirteen (13) on-site parking tuck under spaces. This is a true value-add opportunity for an investor to acquire a mid-sized asset that can potentially yield over thirty-five percent (35%) rental upside with unit and property upgrades, meeting the strong market rents in an emerging and densely populated rental market.