$2,650,000
$2,700,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
12 Beds
15 Baths
6,988 SqFt
SOLD DATE : 09/12/2023
Key Details
Sold Price $2,650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,988 sqft
Price per Sqft $379
MLS Listing ID 23254569
Sold Date 09/12/23
Bedrooms 12
HOA Y/N No
Year Built 1961
Lot Size 8,860 Sqft
Property Description
PORTFOLIO SALE**** The offering is being sold along with 4238 Lindblade Dr, 12625 Mitchell Ave, 12806 Matteson Ave,12811 Matteson Ave & 12814 Pacific Ave- This desirable location is centrally located between Palms, Culver City and Venice. Situated in one of the trendiest neighborhoods in Los Angeles, the offering is within walking distance to an array of shopping, entertainment and dining options. This collection of uniquely and rarely traded assets is being offered for sale for the first time in over 5 decades. The Collection contains an excellent unit mix consisting of five studios , 48 1-bedroom & 15 2-bedroom units, which are very suitable for today's market. The Portfolio is priced attractively at only $250,000 per unit & a 13.7 Gross Rent Multiplier. The properties have all been kept mostly in original condition and have deferred maintenance. All properties require mandatory compliance for earthquake seismic retrofit. Buyers shall assume all responsibility and liability to ensure that compliance will be met with Los Angeles Department of Building and Safety, as the ownership is selling the assets in their "AS-IS WHERE IS" condition. This is a brilliant opportunity for a savvy investor to acquire an ultra-prime west side location with significant value-add potential. The Ownership will consider offers on the entire Collection as a whole portfolio or may elect to sell them individually. Currently 5 units will be delivered vacant at the close of escrow. All units are separately metered for gas & electric. There is ample parking available on site for each property and on-site laundry (washer/dryer) for each building.
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Zoning LAR3
Interior
Heating Electric
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 12
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4248029040
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!

Our team is ready to help you sell your home for the highest possible price ASAP

Bought with Subscriber Non • Non-Participant Office