351 N Sierra Bonita Ave, Los Angeles, CA 90036

351 N Sierra Bonita Ave, Los Angeles, CA 90036

Los Angeles, CA

Property Description

Lyon | Stahl Investment Real Estate is proud to present 351 N Sierra Bonita Ave, a well-kept Spanish-style apartment building located in the Fairfax/Beverly Grove district – one of the most desirable and walkable neighborhoods in Los Angeles. Built in 1930, this 6-unit building consists of two stories and a unit mix of two (2) 2-bed/1-bath and four (4) 1-bed/1-bath units. Select units feature original details, such as hardwood floors, period tile in kitchens/bathrooms, and cove ceiling molding. The building’s electrical and plumbing systems have been extensively upgraded throughout. There are 6 garage parking spaces on-site and additional rear surface parking. Given the property’s high upside (40% increase in market rent potential) and great location near the Grove, the Fairfax & Melrose shopping district, and various restaurants, this is an excellent opportunity for any investor to acquire on prime Los Angeles real estate.


<strong>Investment Highlights:
</strong>● 5,588 SF building situated on a 6,497 SF lot
● Desirable unit mix – (2) 2-bed/1-bath &amp; (4) 1-bed/1-bath
● Select units feature original details – hardwood floors, period tile in kitchen/bathroom, &amp; ceiling molding
● Electrical &amp; plumbing systems have been upgraded throughout
● (6) on-site garage parking spaces + additional surface parking in rear
● A+ prime location! Blocks from the Grove, Melrose &amp; Fairfax shopping district, and more
● Attractive seller financing available!

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Property Features

  • Sale Price: $2,625,000
  • Area Size: 5,588 SF
  • Land Area: 6,497 SF
  • Year Built: 1930
  • Closing Date: 4/1/19
  • Units: 6
  • Current GRM: 18.10
  • Current Cap Rate: 3.64%
  • Price Per Unit: $437,500
  • Current NOI: $95,494

Lyon Stahl Investment Real Estate

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