10951 National Boulevard

    Los Angeles (City), CA 90064
    • $6,750,000
    • STATUS: Active
    • ON SITE: 185 days
    • ID#: SB19080227
    UPDATED: 20 min ago
    $6,750,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,694
      SQFT
    • $430
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1992
    County:

    School Ratings & Info

    Description

    This 11 unit, four-story condominium development, built in 1992, is available for the first time in over 25 years! With unit sizes ranging from 1,296 sq. ft.-1,611 sq. ft., this property located in Prime Palms is the ultimate opportunity to renovate the property and the units and sell as separate condos! Each condo comes with a tandem parking space in the secured semi-subterranean garage that is accessed from the alley behind the property. This asset also works well for a professional apartment building renovator to completely remodel the building and the units and substantially increase rents to market. This property is not subject to Los Angeles City rent control!The property is conveniently located approximately 0.3 miles east of the San Diego (405 Fwy) Freeway and approximately 0.2 miles south of the Santa Monica (10 Fwy) Freeway. The area surrounding the property consists mostly of single family homes, small apartment buildings and condos. The property is just 2.5 miles southwest of Century City. All units are well laid out, spacious 2 bedroom/3 bathroom units and all units have multiple balconies with incredible views! The current rents are well below market. This property has substantial deferred maintenance and needs a renovation inside and out. This is a developers dream project!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-13T18:32:22.56. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/93559421

    10951 National Boulevard Los Angeles (City), CA 90064

    • Price: $6,750,000
    • Status: Active
    • Updated: 20 min ago
    • ID#: SB19080227
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    15,694
    SQFT
    $430
    $/SQFT
    1992
    Built
    Neighborhood:
    C13 - Palms - Mar Vista
    County:
    Los Angeles
    Area:
    C13 - Palms - Mar Vista
    Property Description
    This 11 unit, four-story condominium development, built in 1992, is available for the first time in over 25 years! With unit sizes ranging from 1,296 sq. ft.-1,611 sq. ft., this property located in Prime Palms is the ultimate opportunity to renovate the property and the units and sell as separate condos! Each condo comes with a tandem parking space in the secured semi-subterranean garage that is accessed from the alley behind the property. This asset also works well for a professional apartment building renovator to completely remodel the building and the units and substantially increase rents to market. This property is not subject to Los Angeles City rent control!The property is conveniently located approximately 0.3 miles east of the San Diego (405 Fwy) Freeway and approximately 0.2 miles south of the Santa Monica (10 Fwy) Freeway. The area surrounding the property consists mostly of single family homes, small apartment buildings and condos. The property is just 2.5 miles southwest of Century City. All units are well laid out, spacious 2 bedroom/3 bathroom units and all units have multiple balconies with incredible views! The current rents are well below market. This property has substantial deferred maintenance and needs a renovation inside and out. This is a developers dream project!
    Exterior Features

    Garage Spaces 22.00 Lot Features 11-15 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features SubterraneanTandem Garage Parking Total 22.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No View City LightsNeighborhood View YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Fireplace Features Living RoomMaster Bedroom Fireplace YN Yes Interior Features BalconyElevator Laundry Features Individual Room Levels Multi/Split

    Property Features

    Additional Parcels YN No Association YN Yes Building Area Units Square Feet Community Features Street LightsSuburbanUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 355955.00 Gross Operating Income 355955.00 Gross Scheduled Income 366964.00 Insurance Expense 6278.00 Land Lease YN No Laundry YN Yes Net Operating Income 229990.00 New Construction YN No New Taxes Expense 80733.00 Number Of Separate Electric Meters 11 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 125965.00 Other Expense 1650.00 Other Expense Description Assess Professional Management Expense 20404.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 125965.00 Trash Expense 0.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Martin Ensbury of Keller Williams Beach Cities and Michael Millea of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-13T18:32:22.56. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
     
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