1907 Malcolm Avenue , #3

    Los Angeles (City), CA 90025
    • $2,500,000
    • STATUS: Active Under Contract
    • ON SITE: 30 days
    • ID#: SB19180285
    Under Contract
    UPDATED: 12 min ago
    $2,500,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,160
      SQFT
    • $406
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Great investment opportunity in West L.A.! This centrally located 5 unit complex is enjoys easy access to the 10 & 405 freeways, Santa Monica Blvd, Overland Ave, and Bundy Drive. This prime residential location is close to UCLA, Century City and the rest of Los Angeles making this a prime income property as it is easy to keep rented. Tenants will enjoy to the nearby restaurants, theaters, bars, boutiques and entertainment galore. The 5 units contain a mix of (1) 1 bed / 1 bath , (2) 3 bed /2 bath and (2) 2 bed / 2 bath. 3 units offer private balconies, 1 unit with a patio and 1 unit with a yard area. Parking is never a concern, 10 total parking spaces (a tandem set per unit) and ample street parking with very few restrictions ensure parking available. This property has been owned and occupied by the current owner for over 40 years, it is very well maintained yet has tremendous value add potential through upgrading and modernizing the units. Check with the City for development opportunities as well. One unit is owner occupied and upon vacancy of that unit you can bring the rent up to market rents.Proforma rents listed are based on current market rents of area, gross rents are assuming the building is performing at the Proforma rents. Proforma rents are not guaranteed.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-16T08:26:59.693. 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/98048993

    1907 Malcolm Avenue , #3 Los Angeles (City), CA 90025

    • Price: $2,500,000
    • Status: Active Under Contract
    • Updated: 12 min ago
    • ID#: SB19180285
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    6,160
    SQFT
    $406
    $/SQFT
    1964
    Built
    Neighborhood:
    WLA - West Los Angeles
    County:
    Los Angeles
    Area:
    WLA - West Los Angeles
    Property Description
    Great investment opportunity in West L.A.! This centrally located 5 unit complex is enjoys easy access to the 10 & 405 freeways, Santa Monica Blvd, Overland Ave, and Bundy Drive. This prime residential location is close to UCLA, Century City and the rest of Los Angeles making this a prime income property as it is easy to keep rented. Tenants will enjoy to the nearby restaurants, theaters, bars, boutiques and entertainment galore. The 5 units contain a mix of (1) 1 bed / 1 bath , (2) 3 bed /2 bath and (2) 2 bed / 2 bath. 3 units offer private balconies, 1 unit with a patio and 1 unit with a yard area. Parking is never a concern, 10 total parking spaces (a tandem set per unit) and ample street parking with very few restrictions ensure parking available. This property has been owned and occupied by the current owner for over 40 years, it is very well maintained yet has tremendous value add potential through upgrading and modernizing the units. Check with the City for development opportunities as well. One unit is owner occupied and upon vacancy of that unit you can bring the rent up to market rents.Proforma rents listed are based on current market rents of area, gross rents are assuming the building is performing at the Proforma rents. Proforma rents are not guaranteed.
    Exterior Features

    Lot Features 2-5 Units/AcreRectangular LotYard Lot Size Dimensions 135' X 50' Lot Size Source Assessor Lot Size Units Square Feet Parking Total 10.00

    Interior Features

    Condo Area Units Square Feet Laundry Features Common AreaCommunityIndividual Room

    Property Features

    Accounting Type Proforma Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 5.50 Country Us Effective Gross 220909 Electric Expense 6156.00 Gross Scheduled Income 223140.00 Insurance Expense 4000.00 Laundry Income 1100.00 Laundry YN Yes Leasable Area Units Square Feet Lot Dimensions Source Public Records Maintenance Expense 5000.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 165314.00 Number Of Units Leased 5 Operating Expense 55594.00 Other Expense 5381.00 Property Sub Type Multi Family Real Estate Tax Expense 29901.00 Special Listing Conditions Standard Supplies Expense 480.00 Tax Annual Amount 29901.00 Total Expenses 55594.00 Trash Expense 4676.00 Vacancy Allowance 2231 Vacancy Allowance Rate 1.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Edward Kaminsky of Strand Hill Christies International Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-16T08:26:59.693. 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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