1913 W 3rd St.
Los Angeles, CA 90057
0.47 acres | #SR24000632
Description
We are proud to present The Victorian on 3rd, an amazing multifamily opportunity located at 1901 & 1913 West 3rd Street in The City of Los Angeles, California. This unique apartment complex is comprised of *41 highly improved apartment units in two separate and distinct two-story buildings, and the addition of (1) One-Bedroom + One-Bath detached home.
The buildings are constructed of wood frame with a flat/pitched roof and stucco exterior as well as wood siding. Development for each of the buildings was completed in 1942 & 1923 respectively and encompassing a total of **±21,692 building square feet situated on two separate parcels totaling ±20,283 square feet offering a zoning of LAC2 which could be beneficial for future development.
*(34) Singles + One Bath Units
*(6) One-Bedroom + One-Bath Units
*(1) One-Bedroom + One-Bath Detached Unit
* Total unit count differs from title and was provided by Seller and is believed to be the correct legal unit count. Buyer to verify.
** Total building square footage differs from title and was provided by Seller and said to be a correct accounting of all improvement square footage including basement. Buyer to verify.
*** Currently there are ±21 parking spaces with the potential to add an additional ±3 spaces. Buyer to verify.
PROPERTY HIGHLIGHTS
+ Attractive value metrics of 6.04% Cap Rate | 9.75 GRM | $153,659 CPU
+ Excellent leverage quoted with attractive interest only financing
+ Solid day-1 cash flow and additional rental upside potential
+ Ratio Utility Billing System (RUBS) in place for many units
+ Major electrical and unit upgrades
+ Individually metered for gas and electric
+ Upgraded fire suppression system including hard-wired smoke detectors
+ 50% plus of the units tastefully remodeled
+ Complete unit appliance package of gas range, fridge, dishwasher & microwave
+ Two adjacent buildings & lots on a signalized corner
+ Separate APNs for each property & zoned LAC2 totaling +/-20,283 sq. ft. of land
+ Great candidate to capitalize on newly approved Section 8 housing voucher increases
+ Controlled intercom access and CCTV monitoring
+ On-site gated parking for 24 cars & 2 separate laundry rooms
+ Beautifully maintained and clean property
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Raymond Rodriguez (#F207057973)
Listing Office: Keller Williams Realty Calabasas (#F3510002)
Listing Courtesy (Buyer)
Buyer's Agent: Hank Hoang (#AR39310)
