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    1700 S Vermont Avenue

    Los Angeles (City), CA 90006
    • $1,370,000
    • STATUS: Active Under Contract
    • ON SITE: 27 Days
    • ID#: 320007819
    Under Contract
    UPDATED: 124 min ago
    $1,370,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    The Residences of Vermont hits the market for the first time in nearly 50 years! This prime 6-unit asset provides incredible value-add repositioning opportunity with 45% rental upside in addition to development potential with C2 zoning w/ Tier 3 TOC. Delivered with current 4.8 CAP and 14.3 GRM on current rents. This 6-unit gated multifamily offering consists of one 2-story building with 4 units, and 2 large, detached bungalow residences. All units are large 1 bedroom/1 bath and include their own entrance and spacious, separate dining room that can be repurposed for den, office, or bedroom. Parking lot can accommodate 5-6 vehicles. This property benefits from significant frontage on Vermont and 17th Place in the thriving, high-density K-Town/Pico Union neighborhood that has been attracting massive investment and development.Tenants have remained current on rent throughout Covid. Close to Loyola High School and USC. Subject to Los Angeles Rent Stabilization Ordinance (RSO).Do not disturb tenants. Buyer to conduct own investigations and verify all information.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T00:26:54.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
    www.theparsonsrealestateteam.com/homes/121876152
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    1700 S Vermont Avenue Los Angeles (City), CA 90006

    • Price: $1,370,000
    • Status: Active Under Contract
    • Updated: 124 min ago
    • ID#: 320007819
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    1923
    Built
    Neighborhood:
    Not Applicable-105
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    The Residences of Vermont hits the market for the first time in nearly 50 years! This prime 6-unit asset provides incredible value-add repositioning opportunity with 45% rental upside in addition to development potential with C2 zoning w/ Tier 3 TOC. Delivered with current 4.8 CAP and 14.3 GRM on current rents. This 6-unit gated multifamily offering consists of one 2-story building with 4 units, and 2 large, detached bungalow residences. All units are large 1 bedroom/1 bath and include their own entrance and spacious, separate dining room that can be repurposed for den, office, or bedroom. Parking lot can accommodate 5-6 vehicles. This property benefits from significant frontage on Vermont and 17th Place in the thriving, high-density K-Town/Pico Union neighborhood that has been attracting massive investment and development.Tenants have remained current on rent throughout Covid. Close to Loyola High School and USC. Subject to Los Angeles Rent Stabilization Ordinance (RSO).Do not disturb tenants. Buyer to conduct own investigations and verify all information.
    Exterior Features

    Carport Spaces 0 Number Of Separate Electric Meters 6 Parking Features One Space Parking Total 0 Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Cap Rate 4.8 Fuel Expense 0 Garage YN No Gross Scheduled Income 0 Insurance Expense 0 Land Lease Amount 0 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 0 Net Operating Income 0 New Taxes Expense 0 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 0 Other Expense 0 Special Listing Conditions Standard Supplies Expense 0 Tax Annual Amount 0 Total Actual Rent 0 Trash Expense 0 Vacancy Allowance 0 Vacancy Allowance Rate 0 Water Sewer Expense 0 Zoning Lac2

    Listing provided courtesy of Jason Insalaco of Kelton Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T00:26:54.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
     
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