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    1817 Grace Ave

    Los Angeles, CA 90028
    • $2,375,000
    • STATUS: Active
    • ON SITE: 90 days
    • ID#: 20-568732
    UPDATED: 14 min ago
    $2,375,000
    • 6
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,235
      SQFT
    • $734
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1937
    County:
    Area:

    School Ratings & Info

    Description

    Built in 1924 & 1937, this unique property made up of two fourplexes will be delivered completely vacant. This is an ideal true valueadd investment or redevelopment opportunity in one of the most soughtafter locations in all of Los Angeles. The lot is 13,256 SF currently zoned {Q} R4-2 in a Tier 3 TOC. Additionally, the property is located within a Qualified Opportunity Zone.The buildings feature a unit mix made up of one-bedrooms and two bedrooms, each with a spacious layout. The offering as a value-add investment presents the opportunity to capture the pro forma rents immediately once renovations are complete. The properties are fully parked with six existing garage spaces as well as tandem spaces at the rear of the property; three existing storage spaces can also be converted to garage spaces. There is no soft story retrofit required. The buildings are separately metered for gas & electric, have individual water heaters as well as central A/C throughout.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-02T11:42:27.833. 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/104774779
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    1817 Grace Ave Los Angeles, CA 90028

    • Price: $2,375,000
    • Status: Active
    • Updated: 14 min ago
    • ID#: 20-568732
    6
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    3,235
    SQFT
    $734
    $/SQFT
    1937
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    Hollywood
    Property Description
    Built in 1924 & 1937, this unique property made up of two fourplexes will be delivered completely vacant. This is an ideal true valueadd investment or redevelopment opportunity in one of the most soughtafter locations in all of Los Angeles. The lot is 13,256 SF currently zoned {Q} R4-2 in a Tier 3 TOC. Additionally, the property is located within a Qualified Opportunity Zone.The buildings feature a unit mix made up of one-bedrooms and two bedrooms, each with a spacious layout. The offering as a value-add investment presents the opportunity to capture the pro forma rents immediately once renovations are complete. The properties are fully parked with six existing garage spaces as well as tandem spaces at the rear of the property; three existing storage spaces can also be converted to garage spaces. There is no soft story retrofit required. The buildings are separately metered for gas & electric, have individual water heaters as well as central A/C throughout.
    Exterior Features

    Lot Size Area 6525 Other Structures Other Parking Garage Garage Pool YN No Tennis YN No Total Parking 9

    Interior Features

    Baths Total 5.00 Cooling Ceiling Fan Den No Dining Room No Equipment Other Family Room No Heating Other

    Property Features

    Gross Income 149700 Gross Operating Income 142215 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 98004.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 44211 Type Of Units Apartment Zoning {Q}R4-2

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-02T11:42:27.833. 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