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    1185 Myra Ave

    Los Angeles, CA 90029
    • $7,385,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: 20-586460
    UPDATED: 24 min ago
    $7,385,000
    • 30
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,573
      SQFT
    • $377
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    We are pleased to present for sale a VACANT, prime Silver Lake Multifamily building just one block from Sunset Junction. This investment opportunity offers a buyer the ability to immediately renovate, design, and lease 21 apartment units in an extremely desirable rental location. The Property is anticipated to be stabilized around 5.50% Cap Rate post-renovations. The Property will be delivered with RTI Permits to convert the building from the existing 17 units to a permitted 21 units (20 units + 1 ADU) with an excellent unit mix and large floor plans. There are 18 on-site parking spaces and secure storage for 12 bicycles. Located across the street from a new 100-unit apartment development coming soon and less than 1 mile from the Kaiser and Childrens Hospitals as well as Metro stations, Vermont/Santa Monica & Vermont/Sunset. Buyer to independently investigate the accuracy of all information provided.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-02T14:42:51.017. 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.
    www.randyplaice.com/homes/106579572
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    1185 Myra Ave Los Angeles, CA 90029

    • Price: $7,385,000
    • Status: Active
    • Updated: 24 min ago
    • ID#: 20-586460
    30
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    19,573
    SQFT
    $377
    $/SQFT
    1964
    Built
    Neighborhood:
    Silver Lake - Echo Park
    County:
    Los Angeles
    Area:
    Silver Lake - Echo Park
    Property Description
    We are pleased to present for sale a VACANT, prime Silver Lake Multifamily building just one block from Sunset Junction. This investment opportunity offers a buyer the ability to immediately renovate, design, and lease 21 apartment units in an extremely desirable rental location. The Property is anticipated to be stabilized around 5.50% Cap Rate post-renovations. The Property will be delivered with RTI Permits to convert the building from the existing 17 units to a permitted 21 units (20 units + 1 ADU) with an excellent unit mix and large floor plans. There are 18 on-site parking spaces and secure storage for 12 bicycles. Located across the street from a new 100-unit apartment development coming soon and less than 1 mile from the Kaiser and Childrens Hospitals as well as Metro stations, Vermont/Santa Monica & Vermont/Sunset. Buyer to independently investigate the accuracy of all information provided.
    Exterior Features

    Cross Streets Sunset Blvd. And Fountain Ave. Entry Location Elevator Levels Three Or More Lot Size Area 13194 Other Structures None Parking Garage Covered ParkingGatedUncovered Patio Features Balcony Total Parking 18 View Description MountainsCity View YN Yes

    Interior Features

    Baths Total 31.00 Common Walls Attached Cooling None Equipment None Fireplace Rooms None Heating None

    Property Features

    Assessed Total Value 527679 Gross Income 727800 Gross Operating Income 691410 Like Units1 2 Like Units2 2 Like Units3 4 Like Units4 2 Like Units5 6 Like Units6 2 Net Operating Income 498733.00 Number Of Buildings 1 Number Of Units 21 Owner Pays WaterGardenerOther Property Condition FixerRepairs Major Rent Control YN Yes Sale Type Standard Sewer In Street Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 192677 Type Of Units Apartment Water Public Water Heaters YN Yes Year Built Source Assessor Zoning Lar4

    Listing provided courtesy of Alexander Metaxas DRE#01784652 of Realty Investment Advisors, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-02T14:42:51.017. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355