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11423 Ohio Ave

Los Angeles, CA 90025
  • $6,400,000
  • STATUS: Pending
  • ON SITE: 16 Days
  • ID#: 21-794014
Pending
$6,400,000
  • 28
    BEDS
  • 0.36
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,123
    SQFT
  • $528
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1960
County:
Area:

School Ratings & Info

Description

Offered to the market for the first time in 50 years, this prominently located, mid-century building features a secured courtyard with a pool, an intercom, mature landscaping, private patios or balconies for every unit, as well as abundant carport or garage parking. The excellent unit mix consists of 75% two-bedroom apartments and 25% one-bedroom apartments. As an investment, the Property offers investors an incredible value-add opportunity. With rents approximately 26% below projected market rents, an investor can implement a strategic interior and exterior renovation program to capture the strong market rents being achieved for luxury rentals in the immediate neighborhood. In addition, the Property features two garages which may allow for ADU potential to increase the number of units.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.theparsonsrealestateteam.com/homes/122281401
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11423 Ohio Ave Los Angeles, CA 90025

  • Price: $6,400,000
  • Status: Pending
  • ID#: 21-794014
28
Beds
0
Baths
0
½ Baths
0.36
Acres
12,123
SQFT
$528
$/SQFT
1960
Built
Neighborhood:
West L.A.
County:
Los Angeles
Area:
West L.A.
Property Description
Offered to the market for the first time in 50 years, this prominently located, mid-century building features a secured courtyard with a pool, an intercom, mature landscaping, private patios or balconies for every unit, as well as abundant carport or garage parking. The excellent unit mix consists of 75% two-bedroom apartments and 25% one-bedroom apartments. As an investment, the Property offers investors an incredible value-add opportunity. With rents approximately 26% below projected market rents, an investor can implement a strategic interior and exterior renovation program to capture the strong market rents being achieved for luxury rentals in the immediate neighborhood. In addition, the Property features two garages which may allow for ADU potential to increase the number of units.
Exterior Features

Lot Size Area 15609 Other Structures None Parking Garage CarportGarage Pool Description In Ground Pool YN Yes Total Parking 26

Interior Features

Baths Total 16.00 Cooling None Equipment IntercomDishwasherRange/Oven Heating Wall Gas Laundry Community

Property Features

Assessed Total Value 625437 Gross Income 384324 Gross Operating Income 372784 Like Units1 12 Like Units2 4 Net Operating Income 208784.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 164011 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Bryan Glenn DRE#01441095 of Kidder Mathews Of California, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Parsons Team | Keller Williams Realty
251 S. Lake Ave #150
Pasadena CA, 91101