5534 Geer Ave, Los Angeles, CA 90016

5534 Geer Ave, Los Angeles, CA 90016

Los Angeles, CA

Property Description

We are pleased to exclusively offer for sale this sleek Duplex located in the lively West Adams neighborhood of Los Angeles. This 4,798 SF Tier 3 TOC Lot runs adjacent to Culver City and is strategically positioned near Amazon Studios, HBO Headquarters, and the La Cienega/Jefferson & Expo/La Brea Transit Stations. The building features a Fully Remodeled Owner’s Unit in the back that will be delivered VACANT. This beautifully designed unit boasts a well-lit and open floor plan, new stainless steel appliances and HVAC system, tasteful finishes and fixtures in both the kitchen and bathroom, and new hardwood/tile flooring throughout. This 793 SF, 1 Bed/1 Bath structure is accompanied by an attached ~160 SF addition (with all the same finishes) that can double as an Office or a 2nd Bdrm. Further, this Back Unit is served by a gated perimeter that provides its occupant w/ a privately secluded, outdoor oasis that is lush with ample outdoor living space, a hip lounge/fireplace area, and gorgeous greenery throughout. In the front half of the lot, there is a detached, 1 Bed/1 Bath Unit that’s been recently renovated and features an open floor plan, laminate flooring, and a large kitchen w/ a breakfast bar and abundant cabinet space. In addition, the tenants have access to a 2-Car Carport and (6) Total Parking Spaces on site, which is especially significant in this parking impacted submarket. Also, there are (2) detached, ~80 SF Storage Units that can most certainly be leveraged for additional income. All in all, the building’s close proximity to USC, DTLA, etc provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, especially as it falls in an “Opportunity Zone”.

Property Features

  • Sale Price: $950,000
  • Area Size: 1,332 Sq. Ft.
  • Land Area: 4,798 Sq. Ft.
  • Year Built: 1966
  • Listing Date: 2/23/2023
  • Closing Date: 5/02/2023
  • Units: 2
  • Current GRM: 19.14
  • Price Per Unit: $550,000
  • Current NOI: $37,281

Lyon Stahl Investment Real Estate

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