The property for sale is a 8-unit apartment complex located at 4777 San Vicente Boulevard, Los Angeles CA 90019. The subject property is located just west of Pico Boulevard and east of La Brea Avenue on San Vicente Boulevard.The 5,540 square foot two story apartment was built in 1954 and… Read More is situated over a 5,620 square foot lot that is zoned LAR3. The eight-unit apartment consists entirely of 1 bedroom / 1 bathroom units. There are five on-site parking spots located at the back of the property that has convenient accessibility through the alley. The property has approximately 35% remaining rental upside through unit renovations. A savvy investor can also take advantage of higher potential rents by renting to Section 8 tenants which pay higher than current market rents for Mid-City 90019 zip code. The Housing Authority of the City of Los Angeles (HACLA) voucher payment standards pays up to $2,340 for 1 bedroom units.There are multiple developments that are currently underway in Mid-City and in planning stages. Mid-City is centrally located, offering unparalleled convenience in one of LA's most desirable areas. The property is within walking distance to a number of restaurants, cafes, bars, grocery stores, shopping centers and spiritual centers. Mid-City is a diverse community that is being gentrified in a quiet neighborhood in the center of Los Angeles. The sub-market witnessed a relatively strong renter demand for 490 units during the past 12 months, compared to the five-year average annual renter demand for 370 units. Read Less
Courtesy of KW Advisors 310-482-2200
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
8
Square Ft.
5,540
Lot Size
0.13 Acres
Year Built
1954
MLS Number
25509661
30 Days Snapshot Of 90019
$1,450k
+12%
(avg) sold price
9
+50%
homes sold
107
-33%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
5,540 sq ft, Built in 1954, Levels: Two, Attached, Low Rise
Cooling
Wall Unit(s)
Disclosures
As Is
Foundation
Raised
Heating
Wall Gas
Lot
LotAcreage: 0.129, LotSizeArea: 5,620, Alley Access, Corner Lot
Parking
TotalParking: 5
Property
NumberOfUnits: 8, Zoning: LAR3
Roof
Flat
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