This well maintained property represents the best value in La Cienega Heights. At $196 per unit and 11.5 times Gross, it is clearly the Best in Class. There is (1) 3BR/2BA, (4) 2BR/2BA, (4) 2BR/1BA, (6)1BR/1BA and (1) Studio. The LA County Assessors list the property as 15 units, but… Read More it is operating as 16. The units are huge with a courtyard style layout and a pool. It has been in the family for 51 years, and managed professionally for decades. The property just benefitted from installation of brand new electrical service last year (by permit), and it has been retrofitted for EQ. There are 15 tuck-under parking spaces and a gated entry for security and convenience. It is 3 blocks from Kaiser West LA, and walking distance from Culver City Arts District, HBO, Amazon, Apple, and the Culver Steps. The rental upside is approximately 75%, resulting in a Pro-forma cap rate of 10.08%!! The property is being sold in conjunction with 2314 Corning, and be purchased together or separately. Don't miss this rare bargain! Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Keith Moret 310-425-9838
Listing Snapshot
Days Online
28
Last Updated
Property Type
Other
Beds
23
Square Ft.
12,456
Lot Size
0.29 Acres
Year Built
1961
MLS Number
25533713
30 Days Snapshot Of 90034
$1.58M
-24%
(avg) sold price
12
+71%
homes sold
55
+25%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1961, Building area total: 12,456, Levels: Two, Living area: 12456, 2 stories, 1 building
Community
Gated
Heating
NaturalGas, WallFurnace
Income
Gross income: $273,984, Net operating income: $124,506
Lot
0.2897 acres, 12,619 square feet, Size: 12,619
Parking
15 totals parking, Assigned, Covered
Property
Zoning: LARD1.5
Security Features
GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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