Just Listed – Triplex in Mid-City Los Angeles
Matt Dunfrund of Lyon | Stahl is proud to present 1609 Vineyard Ave, a triplex for sale in Los Angeles!
This property is listed for $999,000
Featuring a detached 3+2 front home currently renting for $1,248/mth; a studio unit renting for $625/mth, and a 1+1.5 detached rear home that’s currently vacant with approx. 1,812 total rentable SF. The property is located on a large 7,499sf lot zoned R1.5, which also would allow an investor to add more units or potentially fully redevelop the site with 4+ new townhouse units. Also located in a TOC Tier 2 area for a potential 60% density bonus. New construction small lot projects have been selling quickly within blocks of the subject property for $1-$1.1M recently with further local growth expected.
Fantastic Mid-City location at the heart of the action with easy access to West LA; Culver City; Downtown LA & Hollywood. Also only a few minutes walk to the Mid-Town Shopping Center featuring a ton of great national retailers; restaurants & shops including: Ross; Chase Bank; PetSmart; Starbucks; Wells Fargo & Panda Express to name a few. Also very close to a large Ralph’s Grocer; CVS Pharmacy, and Planet Fitness. This 1609 Vineyard triplex provides a good value-add opportunity for an investor & also for an owner-user buyer with the ability to owner-occupy the vacant 1 Bedroom unit & also have solid rental income from the two other units to help pay your mortgage.
• Well-located Mid-City Triplex steps from the new 315,683sf Lowe’s anchored Mid-Town Shopping Center
• Fixer triplex with a front detached 3+2 house; a middle studio unit & a rear detached 1+1.5 unit (delivered vacant)
• Redevelopment opportunity on a large 7,499sf lot zoned RD1.5 allowing for 4+ new townhome units by right & potentially significantly more units given the TOC Tier 2 designation & associated 60% density bonus… New construction townhomes have been selling quickly for $1.1M in the immediate area!
• One unit will be delivered vacant also presenting a great owner-user opportunity to occupy that unit & have solid income from the two rental units to assist with your mortgage payment
• Conveniently close to Chesterfield Square shopping center with restaurants, grocery store, pharmacy and much more.
• Walking distance to Van Ness Recreation center.
• Walking distance to Metro and Bus Stations.