Residential Income, California | Page 5 -001-11-30T00:00:00-08:00
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Whittier, 5453 Norwalk Boulevard

Price: $5,000,000
Units Total: 17
Lot Size: 20,720
Living Area: 18,880
Year Built: 1970
Parking: 17
Days on Market: 5
Description: 5453 Norwalk Boulevard is a 17-unit multifamily investment property located in the city of Whittier, California. Residents enjoy the property’s close proximity to parks, schools, and Interstate 605. Situated on a 0.48-acre lot, the 18,880 square foot property consists of two- and three-bedroom townhouse floor plans averaging 1,105 sq.ft. Built in 1970, the property offers an attractive range of amenities including carport parking with additional storage, a sparkling swimming pool, on-site laundry, patios or balconies, and ceiling fans.

1025 9th Street Street

Price: $5,000,000
Units Total: 10
Lot Size: 7,510
Living Area: 8,124
Year Built: 1968
Parking: 14
Days on Market: 134
Description: On the market for the first time in over 30 years in one of the best rental markets in Santa Monica! 1025 9th Street (street address is 1027 9th Street) is a 10 unit multifamily building that is 8,124 sq. Ft. On a 7,510 sq. Ft. Lot. This building is rent controlled, therefore there is over a 45% rental income upside if one were to bring up the rents to market rates. Their is on-site laundry (leased) and the units are separately metered for electricity and gas.

12211 Vanowen Street

Price: $5,000,000
Units Total: 28
Lot Size: 9,228
Living Area: 17,394
Year Built: 1958
Parking: 0
Days on Market: 40
Description: The investment offering is a 28 unit multifamily property comprised of two 14 unit apartment complexes on two separate, but adjacent parcels. Each building has 12 one bedroom one bath units, and 2 two bedroom one bath units. The property has been very well maintained by the same family who has owned and operated the building for two generations. Over the years, approximately 50% of the plumbing has been upgraded to copper piping. Recent capital improvements consist of new roofs, new decking / stairs, new exterior paint, new automated parking gate. Several units have been upgraded with hardwood floors and stainless steel appliances as they have turned over, yielding up to a 40% increase in rent rates. The property has a common driveway entering the secured parking with 14 tuck under parking spaces per building for a total of 28 vehicles. The property is subject to the Soft-Story Retrofit Ordinance #183893 which the buyer shall be responsible for compliance after the closing. The property is located in North Hollywood, just minutes from the NOHO Arts District, Universal Studios, Burbank, Toluca Lake and Sherman Oaks, and is within a few blocks of the Whitsett Sports Fields, Bellingham Elementary, eateries, and Ralphs Grocery on Laurel Canyon. This location provides convenient access to the major employment centers of Downtown Los Angeles and Hollywood via the 170/134/101 freeway system.

Los Angeles, 1383 Midvale Avenue

Price: $4,999,999
Units Total: 8
Lot Size: 7,742
Living Area: 4,546
Year Built: 1941
Parking: 10
Days on Market: 124
Description: Great opportunity for Builders or Developers, prime Westwood location, close to university, shopping, restaurants, park and freeway. This, fully rented, 8 units building is finally for sale. The front building has 2 multi-level units with 2 bedrooms and 2 baths each. The back building consists of 4,1 bedroom, 1 bath and 2 Studios. These building was renovated about 3 years ago and most of the units have the original hardwood flooring. There are 6 parking spaces in the back and 1 car garage in the front with a parking spot on the driveway. There is a laundry room between the front building and the back building. These units are very easy to rent during school enrollment. Come check it out and make an offer. Please do not disturb or ask the tenants about this listing. This property falls under Los Angeles Rent Control. Please verify all information. Financial data are estimates.

Los Angeles, 11307 Isleta Street

Price: $4,999,999
Units Total: 12
Lot Size: 11,810
Living Area: 10,114
Year Built: 1953
Parking: 12
Days on Market: 20
Description: THIS IS FOR TWO ADJACENT PARCELS – 6 UNITS 217 CHURCH ST. LOS ANGELES. CA 90049 YR. 1958 BLDG SQ. FT 5074 APN 4365-029-020 AND 11307 ISLETA ST. LOS ANGELES. CA 90049. YR. 1953. BLDG SQ. FT 5040 APN 4365-029-019. PRICE AND SUMMARY FOR BOTH PROPERTIES SOLD TOGETHER ONLY. 12 UNITS TOTAL. 217 S. Church Lane and 11307 Isleta Street apartment complexes are comprised of 12 garden-style apartment units in 2 two-story buildings. The building’s construction is of wood frame with a flat roof and painted stucco exterior. Current zoning is LAR3 at both buildings. The apartment buildings are side by side and managed together. 217 S. Church Lane consists of 1 three-bedroom / two-bath unit, 4 two-bedroom / one-bath units and 1 one-bedroom / one-bath unit. 11307 Isleta Street consists of 4 two-bedroom / one-bath units and 2 one-bedroom / one-bath units. The remodeled units have updated kitchens with granite or quartz countertops, updated bathrooms and hardwood floors throughout. The units are large with an open layout with big windows and offer great storage space. The laundry room is available at both properties, as well as on-site parking. 217 S. Church Lane and 11307 Isleta Street is in the very prime and vibrant market of Brentwood, adjacent to Santa Monica and West Los Angeles. The properties are south of Sunset Boulevard and west of Sepulveda Boulevard, situated in a truly irreplaceable location.

Manhattan Beach, 233 6th St

Price: $4,999,000
Units Total: 2
Lot Size: 2,705
Living Area: 3,278
Year Built: 1958
Parking: 2
Days on Market: 47
Description: Unique opportunity to own a full lot, corner walk-street duplex in the much desirable location of south Manhattan Beach. This property offers a chance for a buyer to get cash flow plus land appreciation. Front unit has 4 bedrooms, 2 bathrooms and walk-street patio. Rear unit has 2 bedrooms and 2 bathrooms. Two blocks to the sand. Both units share garage. Walk to downtown shops and restaurants

Santa Monica, 924 4TH Street

Price: $4,995,000
Units Total: 14
Lot Size: 7,497
Living Area: 9,540
Year Built: 1959
Parking: Yes
Days on Market: 19
Description: Located in an incredible area of Santa Monica, we are proud to present 924 4th Street, a prime 14-unit investment opportunity! This property is a literal 5-minute walk from the sprawling views of the Pacific Coast in Santa Monica and offers everything within walking distance. From local cuisine to the quickest access to the 10 and 405 freeways, and boasting some of the highest walk, bike, and transit scores in the city, 4th street is the place to own property in! The area itself is highly coveted, as it lies south of Montana and just four blocks from Ocean Avenue, close to hotels and famous dining spots, while still holding small-town charm in one of the most popular cities in Silicon Beach. From working professionals and students to families just starting off, this property provides an attractive living opportunity for a diverse group of individuals.

Beverly Hills, 346 North MAPLE Drive

Price: $4,995,000
Units Total: 8
Lot Size: 7,965
Living Area: 5,330
Year Built: 1947
Parking: Yes
Days on Market: 28
Description: 346 N. Maple Drive is a well maintained property in one of the best locations in Beverly Hills, 90210. Featuring an excellent unit mix of mostly 1 bedroom units with significant rental upside. Current rents average only $2.88 / SF. Ample on site parking on an oversized 7,965 sq. Ft. Lot zoned R4-BH. Units feature hardwood floors, spacious kitchens, wall A / C and much more. 2 Units (a 1 bedroom and a Studio) will be delivered vacant at the close of escrow.

Long Beach, 108 Roswell Avenue

Price: $4,995,000
Units Total: 10
Lot Size: 6,315
Living Area: 7,330
Year Built: 1928
Parking: 6
Days on Market: 123
Description: Classic Normandy style 10 unit building in the heart of Belmont Shore. Beautiful courtyard with a Saucer Magnolia as a center piece; a part of the ambiance of the common area. All of the units have the units have hardwood floors, casement windows, and faux fireplaces, wall sconces, ceiling fans, stoves and refrigerators.

Santa Monica, 928 4TH Street

Price: $4,995,000
Units Total: 14
Lot Size: 7,508
Living Area: 9,618
Year Built: 1959
Parking: Yes
Days on Market: 49
Description: 928 4th Street represents the rare opportunity to acquire a true value add building in one of the most desirable north of Wilshire locations in Santa Monica. Situated on an idyllic, palm tree lined block, 928 4th Street is an equally short walk to the shops on Montana and historic Palisades Park. Comprised of 14 units, 928 4th Street offers a compelling unit mix including (4) 2 bedroom, 1.5 bathroom units, (6) 1 bedroom, 1 bathroom units and (4) studio units. The exterior and interiors maintain their original 50’s charm allowing the new owner the chance to revive the building’s midcentury glory or modernize it to meet the tastes of today’s discerning renter. 928 4th Street features ample tuck under parking and an on-site laundry room. All 14 units are separately metered for gas and electric. With a comprehensive reposition plan, 928 4th Street gives buyers the chance to capitalize on the upside of an exceptionally well located asset at a price per unit of only $356,786.

San Gabriel, 5715 North Vista Street

Price: $4,990,000
Units Total: 20
Lot Size: 20,602
Living Area: 11,808
Year Built: 1961
Parking: 20
Days on Market: 128
Description: San Gabriel Vista apartment in the heart of San Gabriel. Located in one of the most highly sought-after locations. The property offers a rare opportunity for an investor to capitalize on one of the strongest rental markets in the San Gabriel Valley. The front entry leads into a mature landscaped beautiful courtyard. Within this serene space is a 20 unit apartment built in 1961 consisting of 8 units feature 2 bedroom / 1 bathroom, 12 units feature 1 bedroom / 1 bathroom totaling 11,808 living square feet sitting on a lot size of 0.47 acres. Each unit is individually metered for gas and electricity and comes with their own parking space and wall air conditioning. Rental income are currently in process to reflect most current market price by new management company.

Van Nuys, 14133 CALVERT Street

Price: $4,950,000
Units Total: 16
Lot Size: 14,806
Living Area: 10,586
Year Built: 1986
Parking: Yes
Days on Market: 47
Description:

Los Angeles, 11852 WASHINGTON Place

Price: $4,950,000
Units Total: 8
Lot Size: 11,482
Living Area: 10,112
Year Built: 1990
Parking: Yes
Days on Market: 109
Description: Rare Non-Rent Controlled opportunity in Mar Vista, one of the most prime Westside submarkets of Los Angeles. This Property includes a Tentative Tract Map for a Condo Conversion bonus. Value-add opportunity with condo conversion and also rental upside of almost 20 %. Two vacancies delivered at close of escrow (3/2 house and 2/2.5 townhouse unit)

Moreno Valley, 24426 Dracaea Avenue

Price: $4,900,000
Units Total: 18
Lot Size: 993
Living Area: 27,000
Year Built: 2007
Parking: 2
Days on Market: 513
Description: 18 THREE STORY LUXURY TOWN HOMES FOR SALE. ALL HAVE SEPARATE APN#S BUT HOA HASN’T BEN ACTIVATED YET. COULD BE ACTIVATED AND SOLD SEPARATELY IN THE FUTURE. 10 UNITS HAVE 3 BEDROOMS 2.5 BATHS PLUS LOFT ON THIRD FLOOR. 8 UNITS HAVE 3 BEDROOMS 3.5 BATHS, ALL EIGHT OF THESE HAVE MASTER SUITES. UPGRADES INCLUDE MARBLE FLOORS IN KITCHEN, GRANITE COUNTERTOPS IN KITCHENS and BATHS, , HIGH CEILINGS, BERBER CARPET, WHIRLPOOL STAINLESS STEAL APPLIANCES, CANADIAN MAPLE WOOD CABINETS, WASHER AND DRYER HOOK UPS, CENTRAL AIR AND HEAT, DOUBLE PAIN WINDOWS, 2 CAR GARAGES, PATIOS, ALL UNITS ARE IN GOOD SHAPE. TENANTS PAY ELECTRIC AND GAS.

2036 North VERMONT Avenue

Price: $4,900,000
Units Total: 10
Lot Size: 18,698
Living Area: 6,929
Year Built: 1939
Parking: 0
Days on Market: 441
Description: Traditional 1939 and 1941 Architectural Buildings! First Time on the Market many Decades – Family Owned for multiple generations! Built on 2 oversized contiguous Lots (9,349 x 2 = 18,698 sq.ft) in Prime Los Feliz. Total of Ten Units (Nine 1-Bedroom + 1 Studio + 10 Parking Spaces). Rent controlled buildings – 100% Occupancy. Current Gross Annual Income: $130,000 (Rental figures are approximate). Only steps from Los Feliz Village, Shops, Restaurants, Cafe, Theatres, Griffith Park Observatory and Greek Theatre.

337 North OAKHURST Drive

Price: $4,799,000
Units Total: 8
Lot Size: 7,728
Living Area: 8,209
Year Built: 1956
Parking: Yes
Days on Market: 102
Description: Attention Group investors. 8 unit building with 3 vacant units being held for the new buyer’s use; Vacancies: Upper 2br + 1ba and lower 1br + 1 ba front units and adjacent upstairs 2br + 1.75 ba. Provides affordable Beverly Hills living options with additional rental income. A hop, skip and no jump from Four Seasons Hotel. Units 1,2, 3,6 and 8 upgraded.

Los Angeles, 1700 MALCOLM Avenue

Price: $4,795,000
Units Total: 8
Lot Size: 6,938
Living Area: 10,084
Year Built: 1963
Parking: Yes
Days on Market: 62
Description: 1700 Malcolm Avenue presents an attractive investment opportunity to acquire a multifamily asset within desirable Westwood Submarket. Approximately 35% Upside in Rents Four Out of Eight Units Have Been Completely RenovatedEach Unit Has a Private Balcony or Patio

Los Angeles, 3209 DESCANSO Drive

Price: $4,775,000
Units Total: 16
Lot Size: 5,421
Living Area: 9,583
Year Built: 1928
Parking: Yes
Days on Market: 14
Description: We are pleased to present 3209 Descanso Drive, a 16 unit apartment community in L. A. ‘s most compelling rental market, Silver Lake, CA (90026). The offering, built in 1928, is less than one block from the iconic Sunset Blvd., and mere steps away from nearby entertainment venues. The current ownership has executed an impressive renovation strategy that has attracted and supported excellent market rents with well qualified residents. 3209 Descanso consists of Nine (9) Singles, and Seven (7) One Bedroom-One Bathroom apartmenthomes. Eight (8) of the sixteen (16) apartment homes (50% of units) feature re-imagined interiors with expanded doorways / inner spaces, gut-level renovations. 3209 Descanso Drive has 8 remaining unrenovated units allowing for future increased rent potential as the remaining units turn over. * * Please email listings agents for Full Offering Memorandum * *

Los Angeles, 13907 VANOWEN Street

Price: $4,750,000
Units Total: 25
Lot Size: 23,789
Living Area: 15,377
Year Built: 1972
Parking: 0
Days on Market: 35
Description: 13907 Vanowen St is a stunning 25 unit apartment building located in the prestigious Van Nuys market. All new windows and upgraded laminate floors create a light and spacious layout in a mix of single, 1bed / 1bath, and 2bed / 1bath units. Several of the units have new kitchen countertops and tiled bathrooms provide a lavish living experience for several of the tenants. This 15,377 sq.ft building includes 36 parking spaces, 5 of which are available for an additional rent of $50 per month. In close proximity to the property lies the Van Nuys Recreation Center, Hartland Mini Park, and Vallarta Supermarket making retail and recreation options easily accessible. In terms of transit facilitation, Vanowen lies less than two miles from the Hollywood / 170 Freeway which connects to additional major freeways and surrounding neighborhoods. This property is also located less than two miles away from the Sepulveda Orange Line Station which connects to adjacent Los Angeles markets.

Los Angeles, 6126 ELEANOR Avenue

Price: $4,750,000
Units Total: 21
Lot Size: 12,976
Living Area: 12,108
Year Built: 1959
Parking: Yes
Days on Market: 62
Description: El Capri, a true value-add multi-family investment opportunity features 21 units (18 – 1 Bd + 1 Bth and 3 – Studio + 1 Bth) w / approximately 45% upside in rents and boasts 5.94% Pro Forma Cap Rate and 11.52 Pro Forma GRM. Rare opportunity to acquire a property that has already undergone vital, major, and costly infrastructure updates including Soft Story Seismic Retrofit in 2015, New Cool Roof in 2016, New Central Water Heater in 2017, and New Solar Hot Water Heating System approval pending w / possible anticipated summer 2018 installation. Also features two completely renovated 1 Bd units, improved railings, courtyard deck upgrades and paint, and partial copper re-piping. Potential to capitalize on the Seller’s big ticket investments in the property’s infrastructure, by coupling it with high impact / low cost exterior aesthetic updates. Whether an investor seeks to hold and reposition, or hold then develop, the possibility of outstanding future income opportunities await. Double lot w / Alley access.

Studio City, 11613 Moorpark Street

Price: $4,750,000
Units Total: 14
Lot Size: 18,729
Living Area: 10,397
Year Built: 1953
Parking: 13
Days on Market: 253
Description: Amazing assemblage of 3 parcels on Moorpark. Currently, the property has (1) 5 unit apartment building consisting of (2) 2/1 and (3) 1/1 on the parcel to the east. The two parcels to the west consist of various single story bungalow style apartments. There are (2) 2/1 and (7) 1/1’s on the remaining 2 parcels. The City has these 3 parcels as already having 7 independent site address. The property is well maintained and has been virtually 100% occupied throughout the years. It has a classic 1950’s feel with most all units having real hardwood floors and top notch appointments. Every unit is very nice inside and extremely well maintained. Each unit has it’s own tankless water heater and majority of copper plumbing This is a low density property located on prime R3 land. It is on the corner of Moorpark and Troost with alley access. There are 11 enclosed garages that are dedicated to various tenants include in their tenancy. Tons of opportunity to collect rents while getting entitlements or profit from a future upside in rents.

Van Nuys, 7461 HAZELTINE Avenue

Price: $4,700,000
Units Total: 29
Lot Size: 20,251
Living Area: 19,028
Year Built: 1962
Parking: Yes
Days on Market: 29
Description: We are proud to have been selected to exclusively market for sale 29 units located in the neighborhood of Van Nuys, California. The property is comprised of an excellent unit mix of Seven- Studio / 1 Bathroom, Seventeen- 1 Bedroom / 1 Bathroom and Four- 2 Bedroom / 2 Bathroom units. The asset represents a true value-add opportunity with more than 40 percent upside in rents. Van Nuys is located in the central San Fernando Valley region of Los Angeles and is strategically located near pockets of economic and development activity. It is home to the Van Nuys Airport and the Valley Municipal Building, and is the only neighborhood in the San Fernando Valley with a population exceeding 100,000 residents. Additionally, the property is proximate to California State University, Northridge, Premier shopping and dining destinations; including Westfield Topanga, The Village and the Northridge Fashion Center.

2150 North BEACHWOOD Drive

Price: $4,690,000
Units Total: 14
Lot Size: 10,869
Living Area: 9,175
Year Built: 1962
Parking: Yes
Days on Market: 18
Description: I am pleased to offer for sale a 14-unit apartment community located at 2150 North Beachwood Drive in the Hollywood Hills. The subject property represents a rare opportunity to acquire a mid-size multifamily asset in one of the most sought after submar-kets in Los Angeles County. While the current ownership has attentively maintained the property, they have not aggressively raised rents. An astute investor should be able to implement a thorough interior renovation program to take advantage of the estimated 40 percent upside in rental income.

Culver City, 3827 TILDEN Avenue

Price: $4,550,000
Units Total: 10
Lot Size: 10,926
Living Area: 9,340
Year Built: 1957
Parking: Yes
Days on Market: 21
Description: Great location in Culver City with NO RENT CONTROL. Value-add opportunity with upside in rents. Fifteen (15) parking spaces with no tuck under parking CCR4. Please see offering memorandum under Docs.