Residential Income, California | Page 8 -001-11-30T00:00:00-08:00
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Buena Park, 6501 Western Avenue

Price: $4,250,000
Units Total: 15
Lot Size: 17,424
Living Area: 15,515
Year Built: 1965
Parking: 4
Days on Market: 76
Description: An excellent opportunity to acquire a 15-unit multifamily building in Buena Park. Located at 6501 Western Ave. This multifamily asset was built in 1965. It offers an ideal unit mix with five 1 bed, 1 bath units, three 2 bed, 1 bath units, three 2 bed, 1.75 bath units and four 2 bed, 1.5 bath townhome-style units. Well-manicured front lawn and foliage contribute to the exceptional curb-appeal of the property. Residents of the building enjoy use of off-street covered parking and laundry facilities. The building boasts a total of 15,515 sq.ft on a 17,415 square foot lot. For the right investor, this multi-family asset will represent a great opportunity to generate years of steady cash flow and a higher than average ROI. The close proximity to so many restaurants and well-known attractions will lead to increased appreciation as the urban neighborhood lacks additional space for more apartment building projects to be developed. Enrollment numbers continue to grow at the two nearby university campuses assuring a continued uptick in demand for student housing as well. With a few minor updates, a modest increase in rental income will be achievable.

Los Angeles, 5139 Melrose Avenue

Price: $4,250,000
Units Total: 22
Lot Size: 6,945
Living Area: 12,677
Year Built: 1928
Parking: 2
Days on Market: 61
Description: Melrose Studios is made up of 22 charming units (2 buildings) constructed in the 1920’s located in the highly desirable Hollywood sub market with rare frontage on the famous Melrose Ave and a couple blocks from Larchmont / studios. Melrose Studios offer (s) an investor an excellent value add opportunity in a strong sub market with high rental demand and constant gentrification / new development.

Los Angeles, 11816 GOSHEN Avenue

Price: $4,250,000
Units Total: 10
Lot Size: 7,498
Living Area: 7,530
Year Built: 1958
Parking: Yes
Days on Market: 103
Description: Located in one of the Westside’s most sought-after rental and investment markets, this 10-unit apartment building with significant rental upside is a great redevelopment or value-add opportunity. Sitting within a few blocks of grocery stores, dining and shopping options along San Vicente and Wilshire Boulevards, the property is also convenient to UCLA, Brentwood Village and the Getty and Hammer Museums. If you’ve been looking for a development opportunity or good, long-term value-add investment with rental upside in an “A” area, this is a great opportunity. Amenities include covered parking, laundry room and nicely landscaped grounds.

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: 1106
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.

Newport Beach, 2214 West Oceanfront

Price: $4,200,000
Units Total: 2
Lot Size: 3,278
Living Area: 3,603
Year Built: 1965
Parking: 5
Days on Market: 4
Description: OCEANFRONT! ENJOY THE ULTIMATE PLUG and PLAY BEACH LIFESTYLE! PRICED TO SELL between $3,800,000 and $4,200,000. Ideal for Owner to Live in. Or make a ton of money from one of the best Short Term Rental locations in Newport. Or Both! FRONT ROW LOCATION. Directly in front of “Blackies”, one of the most popular Surf Spots in Orange County. Several world famous Surf Spots a short walk or bike ride away. Nearby Restaurants, Shopping and Entertainment. ENDLESS VIEWS and Gorgeous Sunsets. Great for people watching! Sit back on the upper balcony or lower patio and soak in all the action. You’ll never be bored. LARGE DUPLEX with spacious units. 3 bedroom, 3 bath upper unit. And 3 bedroom, 2 bath lower unit on prime corner lot. Incredible Opportunity. You must drive by. See remarks.

Altadena, 196 East SACRAMENTO Street

Price: $4,200,000
Units Total: 12
Lot Size: 29,160
Living Area: 10,196
Year Built: 1985
Parking: 24
Days on Market: 60
Description: This property is part of a 3 parcel portfolio being sold. 183-185 E Woodbury is also apart of this listing for a total of 12 units and 3 parcels. Located on East Sacramento Street and East Woodbury Road in Altadena, California, this twelve unit portfolio is a great investment for someone looking for multi-family buildings with huge upside. Consisting of Ten- 2 Bed / 2 Bath, one-4 bed / 2 bath, and one-3 bed / 2 bath units, these properties offer a total square footage of ±10,196 sitting on ±29,160 square foot block-to-block lot. Both properties are not subject to earthquake retrofit requirements and are non-rent control in nature. 196-202 E. Sacramento Street is a ten unit building with all 2 bed / 2 bath units and over 35% upside. For sale by the original developer, this asset is well below market and offers ±7,280 sq.ft sitting on a ±21,078 square foot lot. Built in 1985, this property has covered parking with space for congregation near the rear portion of the property.

640 South El Camino Real

Price: $4,200,000
Units Total: 2
Lot Size: 4,792
Living Area: 11,077
Year Built: 1928
Parking: 3
Days on Market: 10
Description: The subject property is an 11,077 sq.ft. (commercial-approx 7,200 sq.ft / residential- approx 3,800 sq.ft) property with major street frontage upon El Camino Real, the City’s most prominent retail thoroughfare with panoramic ocean view. Strategically located in the heart of San Clemente, it’s well suited to serve the local retail marketplace. The building configuration has multiple levels / floors which lend themselves to both Retail, Office and Residential-Rental / Live-Work space. The residential upper floors can be a personal residence or have a potential rental income stream which can offset debt service.

6961 WHITSETT Avenue

Price: $4,125,000
Units Total: 22
Lot Size: 19,101
Living Area: 17,651
Year Built: 1964
Parking: Yes
Days on Market: 126
Description: For Disclosure Regarding Auction and Overbid read Private Remarks. CBRE, Inc., as exclusive court-appointed agent, is pleased to present for sale four value-add apartment buildings totaling 83 units in North Hollywood and Panorama City in the San Fernando Valley of Los Angeles, California. Properties: 8849 Van Nuys Blvd., Panorama City, 7818 Ventura Canyon Ave., Panorama City, 6961 Whitsett Ave., North Hollywood, and 6943 Whitsett Ave., North Hollywood. Prospective buyers must sign the confidentiality agreement on our website and follow Court Referee bid instructions.

Los Angeles, 1640 ARMACOST Avenue

Price: $4,100,000
Units Total: 9
Lot Size: 7,000
Living Area: 6,542
Year Built: 1967
Parking: Yes
Days on Market: 124
Description: Prime West Los Angeles location. Good mix of units. Large upside in rents. Soft story earthquake retrofit completed by the seller

14134 Burbank Boulevard

Price: $4,100,000
Units Total: 17
Lot Size: 15,851
Living Area: 13,594
Year Built: 1963
Parking: 16
Days on Market: 38
Description: This is a well-appointed 17-unit apartment complex at 14134 Burbank Boulevard, Sherman Oaks, California. Situated in a great location just west of Hazeltine Avenue, the property is comprised of one 2-bedroom and 1-bathroom, four 2-bedroom and 1½ -bathroom, one 2-bedroom and 1½ 2-bathroom with townhouse layout, five 1-bedroom and 1-bathroom with townhouse layout, two 1-bedroom and 1-bathroom, and four single units, that together come to more than 13,500 sq.ft of rentable space on 15,851 sq.ft of land. The complex has been well maintained since it was built in 1963 and is currently undergoing the manditory update required by the Los Angeles Department of Building and Safety also known as Soft-Story Retrofit. The roof was replaced in 2014 and all vertical pipes in the building have been upgraded with copper. Some of the amenities this building has to offer its residents are an on-site laundry facility and 16 parking spaces. Easy to manage, this property is separately metered for gas and electricity. Centrally located just east of Van Nuys Boulevard this complex sits minutes from the 405,101 and 170 Freeways.

946 South RIDGELEY Drive

Price: $4,100,000
Units Total: 19
Lot Size: 8,178
Living Area: 8,840
Year Built: 1963
Days on Market: 101
Description: Fantastic Miracle Mile Location! 19 units sits perfectly in museum row’s backyard on the corner of Olympic and Ridgeley situated just steps from the bus line, and a short walk to the future purple line stop. This building is comprised of bachelor units to be delivered at least half vacant with a great layout for hospitality, short-term accommodations or student housing. Can be delivered fully occupied if required by buyer. Recent capital improvements include: brand new hallway flooring and ceiling tiles, remodeled common kitchens, new fire control system, and new roof. 100% waterproof flooring installed, kitchens remodeled with new cabinets, quartz counter-tops and new appliances! Call now for additional details!

Burbank, 1321 North EDISON Boulevard

Price: $4,065,000
Units Total: 14
Lot Size: 16,497
Living Area: 9,576
Year Built: 1951
Parking: Yes
Days on Market: 31
Description: We are pleased to present 1321 N Edison Boulevard, a multifamily property situated in the center of Burbank, CA, that is not subject to Los Angeles rent control. With a balanced mix of two bedroom, one bedroom, and studio units, the building occupies a large 16,497 square foot lot that is zoned BUR4. Select units have been moderately upgraded, with some combination of new windows, new flooring, new kitchen cabinets, and / or new granite countertops, but the opportunity remains for a new investor to apply an interior improvement plan to reposition the asset for expanded income growth. An additional income stream is provided to the owner via the on-site laundry room.

Costa Mesa, 287 East 16th Place

Price: $4,000,000
Units Total: 8
Lot Size: 13,068
Living Area: 9,049
Year Built: 1963
Parking: 13
Days on Market: 25
Description: 287 E. 16th Place is a unique 8 unit Eastside Costa Mesa investment opportunity advantageously located near the border of Newport Beach and the shopping, dining and entertainment of popular 17th St. In Costa Mesa. Per assessor, total building square footage is over 9,000 sq.ft and lot size is over 13,000 sq.ft. The smart unit mix includes oversized floorplans and features two 3 bedroom / 2 bath units, two 1 bedroom / 1 bath units and four 2 bedroom / 2 bath units. Residents share the charming interior courtyard. The windows have been replaced throughout the building and most units have upgraded interiors, including newer bathrooms / kitchens and newer flooring. There is big upside in rental rates, with several units on month-to-month rental agreements. Conservative pro forma rents include: 1 bedroom – $1900,2 bedroom – $2300 and 3 bedroom – $2750, which equates to a conservative pro forma Gross Scheduled Income of $222,000. There are two single car garages, plus carport and assigned parking spots. The small laundry room is shared and some units have washer / dryer hookups. Units are separately metered for gas and electric.

Pomona, 1459 South Rebecca Street

Price: $4,000,000
Units Total: 8
Lot Size: 6,090
Living Area: 12,854
Year Built: 2017
Parking: 8
Days on Market: 291
Description: This are 7 brand new beautiful homes close to Phillips Ranch and Chino Hills, 3 of them have 4 bedrooms and master bedrooms with walk in closets and double sinks in master bathrooms and hallway 4 of them have 3 bedrooms extra large master bedroom with a huge walk in closet and large living room, 1 historical home, driveway and landscaping is in process of been done the new homes have built ins Range, oven, dishwasher and 4 of them have wine coolers, pantries with quartz counter tops 3 full bathrooms with exquisite ceramic tile tile floors throughout the first floor 2 car garage ready for electric cars with insulated garage doors and garage door openers completely fenced with block walls Cozy fireplaces in Living rooms and fire sprinklers throughout homes Please call the listing agent which is also the owner to preview the homes, Sale subject upon BRE final approval of homes

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: 131
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 (850-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.

South Pasadena, 1004 Arroyo Drive

Price: $4,000,000
Units Total: 13
Lot Size: 12,651
Living Area: 8,418
Year Built: 1954
Parking: 11
Days on Market: 90
Description: The Mona Kai is a 13-unit multifamily property constructed in 1954 on a 12,651 square foot lot, with a total building size of 8,418 sq.ft. The well-maintained and landscaped, two-story property is conveniently located across the street from Arroyo Seco Golf Course, is separately metered for electric and gas, and offers a sparkling community pool, carport parking, and an on-site laundry room. The newly painted building features a diverse unit mix of studio, one-bedroom / one-bathroom, one-bedroom / one-bathroom + den, two-bedroom / one-bathroom, and two-bedroom / one-and-half-bathroom units that offer individual hot water heaters, wall air conditioning and heating, stove, refrigerator, and tile countertops. Select units offer ceiling fans, oak wood flooring, and a patio / balcony. Units 8 and 12A share a gas meter, all other units have individual meters. This property has been cleared for termites and may be purchased alone or with 5-unit multifamily property located at 640 Arroyo Dr, South Pasadena.

Hesperia, 8531 Glendale Avenue

Price: $4,000,000
Units Total: 0
Lot Size: 3,620,707
Living Area: 10,215
Year Built: 1950
Parking: 3
Days on Market: 39
Description: The Luckey Alfalfa Ranch! 83 + acres 4 parcels including 10 outbuildings at 10,215 square feet; 3 homes with 9 bedrooms 8 bathrooms at 7,446 square feet; an office with bathroom at 1,750 square feet; 70 + acres of prime agricultural land most recently farmed as Alfalfa; 300 acre feet water shares in the Mojave Water Basin (Alto-Sub Area) currently valued at $1,500,000. The possibilities for the 60 + acres (Parcel #24 and #48 – Zoned Rec / Com and A-2) which are contiguous are numerous; Agricultural: Alfalfa, Sod Farm, Tree Farm, Pistachio, Jujube, Peaches, Nectarines, Plumbs, Pears and Cherries, Carrots, Onions, Small Grains, Hemp, Grapes / Wineries. In addition to the Agricultural possibilities there are other developmental possibilities: Sports Complex (Soccer, Baseball, Foot Ball, Skate Park, Polo Fields), Music Concert Venue, Alfalfa Museum, Solar Farm, Wind Farm, Arboretum, University (Weather and Agricultural Studies), Stadium Site, Mini NFL Camp, Horse – Dog – Race Car Track Site, Rodeo Site, Horse Farm, Fairground Site, Private Air landing Field and Runway, Mobile Home or duplex sites along the southern border. The development possibilities increase as you head north to the NE corner of Rocksprings and Glendale – This piece is 15.43 acres 10 + acres is Buildable – Currently Zoned A-2 buildable unit=2.5 acre. To the immediate W and SW of the property are 18,000 to 20,000 sq. Ft. Home sites creating a possible 20 -. 5 acre developable home sites.

Santa Monica, 1247 11TH Street

Price: $3,999,000
Units Total: 9
Lot Size: 7,478
Living Area: 7,547
Year Built: 1955
Parking: 11
Days on Market: 75
Description: A great well maintained 9 unit building less than a block South of Wilshire. Most units have updated kitchens and baths. Lower units have really big patios. Most upper units have balcony’s. Plenty of parking and easy maintained landscaping. Short distance to grocery stores, Starbucks on the corner, plenty of restaurants. Easy access to all public transportation and the beach. Close to Santa Monica medical facilities. 8 one bedrooms with 1 bath and one 2 bedroom 1 bath. Rents are effective 9/1 / 2018. Unit 7,1 bedroom vacant and rent is estimated. Parking 5 spaces in rear as well as 6 tandem in front of the building. PRICE REDUCED OVER $200K.

Inglewood, 917 EDGEWOOD Street

Price: $3,999,000
Units Total: 13
Lot Size: 11,102
Living Area: 9,875
Year Built: 1956
Parking: Yes
Days on Market: 59
Description: Resting in a prime area of Northwest Inglewood, lies this 13 unit non-rent control, investment opportunity. We are proud to present 917 Edgewood St! This structure is situated in a prime location preparing for the unveiling of the highly publicized and famous City of Champions Stadium (Hollywood Park), which will welcome patrons from all sides! With Ladera Heights and View Park – Windsor Hills running adjacent to the property, this building offers a fantastic unit mix of 1 beds, 2 beds, and studios showing a major upside in rents.

Beverly Hills, 158 South ELM Drive

Price: $3,999,000
Units Total: 6
Lot Size: 6,070
Living Area: 5,386
Year Built: 1938
Parking: Yes
Days on Market: 27
Description: One of the highest-profile and most sought-after locations in the world! Excellent “walkability” to the best that Beverly Hills has to offer, The Golden Triangle. 4 of the 6 units extensively and conscientiously rehabbed; modern “finish” while maintaining the building’s vintage character. 2 units may be delivered vacant meaning an immediate ‘market rent opportunity’. Almost 5,400 rentable square feet – spacious units with large living room, dining rooms and built-ins. Steady, bond-like annual yield, as well as capital appreciation and tax write-offs for an investor. Seller’s preference is to be cashed out via cash or cash-to-new loan; however, Seller may consider carrying a 50%-60% LTV first trust deed. Considered on an offer-by-offer basis.

Seal Beach, 1603 Electric Avenue

Price: $3,998,000
Units Total: 7
Lot Size: 6,098
Living Area: 3,089
Year Built: 1939
Parking: 4
Days on Market: 88
Description: No expense spared on this fully remodeled, 7 unit adorable beach complex just a few blocks from the crashing waves in Old Town Seal Beach. Great location and opportunity for investors seeking a strong and consistent ROI without the headaches associated with managing older units. These are (2) individual parcels (APN #19906425 and #19906424 – address is 1603 and 1605 Electric Ave) separated by a common courtyard, laundry and 4 garages (2 garages for each parcel). The owner recently took all units down to the studs and painstakingly renovated the entire complex while keeping the charming feel of the original beach bungalows. Recent renovations included electrical, plumbing, roof, heating system, drywall, insulation, windows, doors and landscape. Completely remodeled kitchens with new appliances, quartz counter tops, cabinets, sinks and fixtures. All new bathrooms, toilets, vanities, cabinets, fixtures and tile work. High quality gray laminate flooring throughout plus new paint, light fixtures, garage doors and shared laundry room. Nothing like them in Seal Beach and Units are fully occupied! All financial information in this listing represents current leases in place and historical expenses. Financial information and list price is for both units. Individual parcel and financial information can be viewed at MLS #OC18114954 and OC18113788 where listed separately. These units may be financed separately to take advantage of multi-family interest rates. Turn key and Fully leased!

Santa Monica, 1437 FRANKLIN Street

Price: $3,995,000
Units Total: 6
Lot Size: 7,578
Living Area: 7,026
Year Built: 1968
Parking: Yes
Days on Market: 119
Description: Charming, well cared for property in prime Santa Monica. 3 Bedroom / 2.5 Bath townhome unit with direct garage entry. Spacious, well appointed units with modern conveniences. Copper plumbing and new windows throughout. Four of the six units have been tastefully remodeled with great attention to detail, including hand selected counter tops, flooring, fixtures and all new modern kitchen appliances. Separately metered for gas and electric. Within walking distance to many of Santa Monica’s great shops and restaurants, as well public transportation.

Los Angeles, 1435 South Bundy Drive

Price: $3,995,000
Units Total: 9
Lot Size: 6,356
Living Area: 6,646
Year Built: 1964
Parking: 0
Days on Market: 118
Description: Rare opportunity to acquire a West LA building with stabilized rents. Property is a nine unit building with good unit mix. Do not disturb tenants. Property tours will commence after call for offers.

Los Angeles, 1383 Midvale Avenue

Price: $3,995,000
Units Total: 8
Lot Size: 7,742
Living Area: 4,546
Year Built: 1941
Parking: 10
Days on Market: 221
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.