Just Listed – 4Plex Property in Los Angeles

Just Listed – 4Plex Property in Los Angeles

Lyon | Stahl is pleased to present 1605 Vineyard Avenue, a 4-unit property in Los Angeles.

Listed at $1,399,000 this property was renovated in 2007, has a cap rate of 4.27% and an NOI of $$59,748.

This 4plex is only a stone’s throw from the huge national retail Midtown Crossing shopping center. This area has witnessed rapid growth
and has appreciated over the recent years & a ton of redevelopment is already occurring in this immediate area now.
The property features a solid unit mix with one 2+1 front home; two 2+1 units (build in 2007 & not subject to rent control),
and one 1+1 unit. The total rentable SF is 3,212 SF so all four units are a good size and have been well-maintained
by the current owner. They’ll only require minor cosmetic interior renovations to easily obtain full market rents.
The gross income will be approx. $7,110/mth; $85,320/yr once the vacant units are rented at the market rate allowing
the new owner to add immediate value & see positive cash flow from Day 1 here. The lot size is also large at 7,499 SF.

Investment Highlights:

● Well-maintained 4 unit Mid-City property perfect for an
owner-user buyer or value-add investor
● Features a great unit mix with a front 2+1 House; two 2+1
units & one 1+1 unit with 3,212 total rentable SF
● Fantastic Mid-City location at Vineyard & Venice Blvd just
steps from the new 315,683 SF Lowe’s anchored Midtown
Crossing shopping center with a ton of national retailers
including: Ross; Smart & Final; Petsmart; Chipotle; and
Starbucks
● A minimum of 2 units & potentially a 3rd unit can be delivered
vacant at closing. The rear duplex was built in approx. 2007 & is
not subject to LA rent control (buyer to verify)
● Gross income of $7,110/mth; $85,320/year
● 7,499 SF lot zoned RD1.5 allowing for the future
redevelopment of the lot with 5 new condos/units down the
road… Homes are already selling for $1M+ in the immediate
neighborhood!

Area Overview:

Los Angeles is the largest city in the state of California and the second largest in the United States. Often abbreviated as L.A.
and nicknamed The City of Angels, Los Angeles has an estimated population of 3.8 million and spans over 498.3 square miles in Southern California. Additionally, the Los Angeles metropolitan area is home to nearly 12.9 million residents. Los Angeles is the seat of Los Angeles County, the most populated and one of the most diverse counties in the United States.

Los Angeles is the nation’s largest manufacturing area, home to one of its busiest ports, the distribution hub of the west coast and a gateway to Asia. Los Angeles is also the entertainment capital of the world, with most of the country’s major motion picture, television and recorded music operations based there. The city’s expansive metropolitan area is the second-largest in the country, with over 14,000,000 people spread over a land area the size of Maine. Thirty of LA’s suburbs have populations of 80,000 or more. Los Angeles is very diverse, with people from over 140 countries and the largest Latin-American and Asian- American populations of any US city. 

 

 

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