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6223 S Van Ness Avenue

Los Angeles (City), CA 90047
  • $800,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: 24413695
UPDATED: 48 min ago
$800,000
  • 7
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,082
    SQFT
  • $260
    $/SQFT
Type:
Multi-Family
Built:
1936
County:

School Ratings & Info

Listing Agent(s): Casey Lins of Kidder Mathews of California, Inc. (858-369-3010)


Description

We are pleased to present a 4-unit property located in the Hyde Park neighborhood. This property is centrally located in close proximity to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum, and multiple museums. This opportunity is also a short drive to Crenshaw/Leimert Park, Inglewood and provides easy access to the 105 & 110 freeways as well as the new LAX/Crenshaw metro rail line, offering tenants convenience to numerous nearby amenities. The building currently operates at a 13.68 GRM on current rents, with rental upside potential to a 6.47 GRM and a 12+% CAP on pro-forma rents. The property consists of three standalone structures, all constructed in 1936, with a strong unit mix comprised of 1 three-bedroom two-bath unit, 1 two-bedroom one-bath unit, and 2 one-bedroom one-bath units. The property also features five 1-car garages in the rear accessible from the alley providing potential for ADU conversions.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-19T23:35:43.673. 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 Kohler Real Estate Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/152479461
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6223 S Van Ness Avenue Los Angeles (City), CA 90047

  • Price: $800,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 48 min ago
  • ID#: 24413695
7
Beds
0
Baths
0
½ Baths
0.14
Acres
3,082
SQFT
$260
$/SQFT
1936
Built
Neighborhood:
PHHT - Park Hills Heights
County:
Los Angeles
Area:
PHHT - Park Hills Heights
Property Description
We are pleased to present a 4-unit property located in the Hyde Park neighborhood. This property is centrally located in close proximity to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum, and multiple museums. This opportunity is also a short drive to Crenshaw/Leimert Park, Inglewood and provides easy access to the 105 & 110 freeways as well as the new LAX/Crenshaw metro rail line, offering tenants convenience to numerous nearby amenities. The building currently operates at a 13.68 GRM on current rents, with rental upside potential to a 6.47 GRM and a 12+% CAP on pro-forma rents. The property consists of three standalone structures, all constructed in 1936, with a strong unit mix comprised of 1 three-bedroom two-bath unit, 1 two-bedroom one-bath unit, and 2 one-bedroom one-bath units. The property also features five 1-car garages in the rear accessible from the alley providing potential for ADU conversions.
Exterior Features

Parking Total 5

Interior Features

Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 4.71 Garage YN Yes Gross Income 58469 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 37669 New Construction YN No Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Zoning LARD1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-19T23:35:43.673. 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 Kohler Real Estate Group | Zutila. Licensed in the State of California, USA.
 
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Kohler Real Estate Group | Zutila
4000 Barranca Pkwy #105
Irvine CA, 92604
Listing Agent(s): Casey Lins of Kidder Mathews of California, Inc. (858-369-3010)