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$4,285,000

Est. payment - /mo

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8 BD

16 BA

8,832 SqFt

Active

455 N Genesee AVE Los Angeles, CA 90036

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/17/2024 06:03 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,832 sqft

Price per Sqft $485

MLS Listing ID 24421805

Bedrooms 8

HOA Y/N No

Year Built 1932

Lot Size 6,377 Sqft

Property Description

Maywood Property Group is thrilled to introduce the 455 N Genesee Ave Apartments, a prime investment opportunity in the heart of Los Angeles' desirable Beverly-Fairfax neighborhood. This property is ideally situated walking distance from The Grove shopping center and 0.3 miles from the Hackman Capital/ CBS Television City redevelopment project, which is set to create approximately ~18,000 new jobs, boosting local demand. The building features 16 units in total, including 8 studio apartments and 8 one-bedroom / one-bathroom units. With a 4.93% cap rate on current rents and the potential to achieve an 8% cap rate at market rents and the implementation of a RUBS program, this property offers a 28% rental upside. Additionally, the property includes a large basement laundry room with seller-owned machines and secure callbox entry for added convenience and security. **SUBMIT ALL OFFERS**

Location

State CA

County Los Angeles

Area C19 - Beverly Center-Miracle Mile

Zoning LARD1.5

Interior

Heating Natural Gas

Fireplace No

Appliance Disposal, Refrigerator

Exterior

Garage On Street

Parking Type On Street

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5527028003

Special Listing Condition Standard

Listed by Nicholas Hayner • Maywood Property Group

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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