4628 Prospect Avenue

    Los Angeles (City), CA 90027
    • $3,650,000
    • STATUS: Active
    • ON SITE: 6 days
    • ID#: TR18269352
    New On Site 6 Days Ago
    UPDATED: 74 min ago
    $3,650,000
    • 0
      BEDS
    • 0.37
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,936
      SQFT
    • $526
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1921
    County:

    School Ratings & Info

    Description

    Two classic 4-unit buildings on two separate lots with shared driveway and alley access on a huge 0.37 acre combined lot with development potential. Amazing location in Los Feliz Village, near LA's hippest restaurants, cafes and shops and two blocks from Metro Red Line. Great cash flow with most of the spacious units beautifully renovated. All units are 1BR/1BA with in-unit laundry, average 867 sqft per assessor and most include tankless water heaters and large capacity laundry machines. Eleven uncovered parking spaces. Assumable loan (fixed at 3.59% through 7/1/2023, then variable) is another bonus. These mixed zoning properties are mostly LARD1.5 with some LAR3 along the back alley, and TIER 4, meaning they can get transit oriented density bonus, with no parking requirements (buyer to verify with city). The TIER 4 is because the properties are just 2 blocks from the Red Line subway and very close to a metro rapid bus line. Please do not go onto the property and do not approach or disturb tenants. Viewing will only be scheduled with an accepted offer. Don+GGt miss out on this unique opportunity! 4628 Prospect Ave (APN 5542-001-014) and 4632 Prospect Ave (APN 5542-001-013) are being sold together for $3,650,000.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T19:36:15.243. 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. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/89255915

    4628 Prospect Avenue Los Angeles (City), CA 90027

    • Price: $3,650,000
    • Status: Active
    • Updated: 74 min ago
    • ID#: TR18269352
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.37
    Acres
    6,936
    SQFT
    $526
    $/SQFT
    1921
    Built
    Neighborhood:
    637 - Los Feliz
    County:
    Los Angeles
    Area:
    637 - Los Feliz
    Property Description
    Two classic 4-unit buildings on two separate lots with shared driveway and alley access on a huge 0.37 acre combined lot with development potential. Amazing location in Los Feliz Village, near LA's hippest restaurants, cafes and shops and two blocks from Metro Red Line. Great cash flow with most of the spacious units beautifully renovated. All units are 1BR/1BA with in-unit laundry, average 867 sqft per assessor and most include tankless water heaters and large capacity laundry machines. Eleven uncovered parking spaces. Assumable loan (fixed at 3.59% through 7/1/2023, then variable) is another bonus. These mixed zoning properties are mostly LARD1.5 with some LAR3 along the back alley, and TIER 4, meaning they can get transit oriented density bonus, with no parking requirements (buyer to verify with city). The TIER 4 is because the properties are just 2 blocks from the Red Line subway and very close to a metro rapid bus line. Please do not go onto the property and do not approach or disturb tenants. Viewing will only be scheduled with an accepted offer. Don+GGt miss out on this unique opportunity! 4628 Prospect Ave (APN 5542-001-014) and 4632 Prospect Ave (APN 5542-001-013) are being sold together for $3,650,000.
    Exterior Features

    Garage Spaces 0.00 Lot Features Lot 10000-19999 SqftSprinklers Drip System Lot Size Source Assessor Lot Size Units Square Feet Parking Total 11.00 Pool Features None Pool Private YN No Property Attached YN No Road Surface Type Alley Paved

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 867 Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Wall Window Cooling YN Yes Laundry Features Dryer IncludedIndividual RoomWasher Included Levels Two

    Property Features

    Additional Parcels Description 5542-001-013 Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Urban Country Us Elevation Units Feet Gross Income 215306.00 Gross Scheduled Income 17942.00 Inclusions Most Appliances Insurance Expense 2797.00 Land Lease YN No Laundry YN Yes Net Operating Income 202958.00 New Construction YN No New Taxes Expense 24215.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 0 Number With Range 8 Number With Refrigerator 7 Operating Expense 12349.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 12349.00 Trash Expense 2485.00 Walk Score 95 Water Sewer Expense 1807.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Jonathan Minerick of Homecoin.Com.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T19:36:15.243. 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. Licensed in the State of California, USA.
     
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