16019 Vanowen Street

    Los Angeles (City), CA 91406
    • $1,200,000
    • STATUS: Active
    • ON SITE: 122 days
    • ID#: 19466956
    UPDATED: 42 min ago
    $1,200,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,184
      SQFT
    • $287
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    A well maintained six unit multi-family building located in Lake Balboa. Based on increasing rental rates in the area, the property has great upside and represents a major value-add and easy repositioning opportunity. By simply turning over units and further renovating them, a savvy investor can achieve market rents of $1,550 for one bedrooms and $1,800 for two bedrooms. This equates to 38% of potential rental upside. The subject property offers tenants select amenities including on-site laundry, gated entry and gated secured covered parking spaces. The property is situated on a 8,500 sq. ft. lot and has great redevelopment potential, with the ability to build 10 to 14 new units by taking advantage of density bonus. Also of note, the Property is NOT on the L.A.'s Soft-Story Retrofit Program website. (Buyer to Verify All comments which are believed to be from reliable sources)

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-15T11:32:23.307. 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/94820587

    16019 Vanowen Street Los Angeles (City), CA 91406

    • Price: $1,200,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 19466956
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    4,184
    SQFT
    $287
    $/SQFT
    1956
    Built
    Neighborhood:
    LKBL - Lake Balboa
    County:
    Los Angeles
    Area:
    LKBL - Lake Balboa
    Property Description
    A well maintained six unit multi-family building located in Lake Balboa. Based on increasing rental rates in the area, the property has great upside and represents a major value-add and easy repositioning opportunity. By simply turning over units and further renovating them, a savvy investor can achieve market rents of $1,550 for one bedrooms and $1,800 for two bedrooms. This equates to 38% of potential rental upside. The subject property offers tenants select amenities including on-site laundry, gated entry and gated secured covered parking spaces. The property is situated on a 8,500 sq. ft. lot and has great redevelopment potential, with the ability to build 10 to 14 new units by taking advantage of density bonus. Also of note, the Property is NOT on the L.A.'s Soft-Story Retrofit Program website. (Buyer to Verify All comments which are believed to be from reliable sources)
    Exterior Features

    Lot Size Dimensions 50X170 Lot Size Units Square Feet Parking Features Covered Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Gross Multiplier 14.07 Gross Operating Income 82702.00 Improvements Amount 400000 Land Value 540000 Laundry YN Yes Net Operating Income 46855.00 Special Listing Conditions Standard Total Expenses 39447.00 Zoning Lar3

    Listing provided courtesy of Jon Emrani of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-15T11:32:23.307. 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.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606