Compare Listings

1609 Vineyard Ave, Los Angeles, CA 90019

$999,000

Description

Proudly presenting this well-located Mid-City LA triplex listing at 1609 Vineyard Avenue, LA 90019. 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.

Investment Highlights:
• 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

Property Downloads

Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on June 21, 2019 at 6:27 pm

  • Price: $999,000
  • Property Size: 1,812 Sq Ft
  • Land Area: 7,499 Sq Ft
  • Year Built: 1917
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 3

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
Linkedin

Inquire about this property

Agent Properties