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    12717-12719 Vanowen St

    Los Angeles, CA 91605
    • $3,500,000
    • STATUS: Closed
    • ON SITE: 48 days
    • ID#: 20-613934
    Sold - 08/31/2020
    $3,500,000
    SOLD - 08/31/2020
    • 22
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,569
      SQFT
    • $258
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1955
    County:

    School Ratings & Info

    Description

    The Vanowen Collection is an 18-unit value-add opportunity in North Hollywood. The property consists of three buildings on a 22,000 square foot lot. The original two buildings were built in 1955, and the third was added in 1985 by the current ownership and is not subject to Los Angeles Rent Stabilization (RSO). The two older buildings are each comprised of (6) one-bedroom units, and the newer building has (2) one-bedrooms and (4) two bedroom-two bath units. The asset has been owned by the same family for over 40 years, and at under $200,000 per unit, provides an incredible opportunity to add value and increase rents by over 35%. There have been 100% collections through July, and the property will be delivered with two vacancies. The property is located within a Qualified Opportunity Zone (QOZ), offering the possibility of long-term tax savings. The composite shingle roofs for the two older buildings were replaced in 2011, and the newer buildings roof was also replaced that year.

    Sold by Kimberly Roberts Stepp BRE#01251767 of Kwsm.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-22T23:42:27.237. 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/108573956
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    12717-12719 Vanowen St Los Angeles, CA 91605

    • Price: $3,595,000
    • Status: Closed
    • ID#: 20-613934
    22
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    13,569
    SQFT
    $258
    $/SQFT
    1955
    Built
    Neighborhood:
    North Hollywood
    County:
    Los Angeles
    Area:
    North Hollywood
    Property Description
    The Vanowen Collection is an 18-unit value-add opportunity in North Hollywood. The property consists of three buildings on a 22,000 square foot lot. The original two buildings were built in 1955, and the third was added in 1985 by the current ownership and is not subject to Los Angeles Rent Stabilization (RSO). The two older buildings are each comprised of (6) one-bedroom units, and the newer building has (2) one-bedrooms and (4) two bedroom-two bath units. The asset has been owned by the same family for over 40 years, and at under $200,000 per unit, provides an incredible opportunity to add value and increase rents by over 35%. There have been 100% collections through July, and the property will be delivered with two vacancies. The property is located within a Qualified Opportunity Zone (QOZ), offering the possibility of long-term tax savings. The composite shingle roofs for the two older buildings were replaced in 2011, and the newer buildings roof was also replaced that year.
    Exterior Features

    Covered Parking 23 Entry Location Ground Level - No Steps Levels Two Lot Description Curbs Lot Size Area 21870 Other Structures None Parking Garage CarportGarage Pool Description None Pool YN No Roof CompositionShingle Spa None Spa YN No Total Parking 25

    Interior Features

    Baths Total 22.00 Common Walls Attached Cooling CentralWall Unit(S) Equipment Range/OvenDishwasher Heating CentralWall Laundry Community Laundry Equipment Own Water Heater Features Central Water HeaterWater Heater Unit

    Property Features

    Assessed Total Value 539247 Entry Floor Number 1 Gross Income 270708 Gross Operating Income 262587 Like Units1 14 Like Units2 4 Net Operating Income 146901.00 Number Of Buildings 3 Number Of Units 18 Sale Type Standard Source Living Area Estimated Source Lot Size Area Assessor Total Annual Expense 115686 Type Of Units Apartments Water Heaters YN Yes Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Kimberly Roberts Stepp DRE#01251767 of Kwsm.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-22T23:42:27.237. 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