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    1714 3rd Ave

    Los Angeles, CA 90019
    • $1,195,000
    • STATUS: Active
    • ON SITE: 19 days
    • MLS #: 21-693764
    UPDATED: 39 min ago
    $1,195,000
    • 6
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,310
      SQFT
    • $361
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1907
    County:

    School Ratings & Info

    Description

    I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property has 26% remaining rental upside through unit renovations. The property is priced to an in-place 5.05% CAP rate with remaining upside to a 7.01% CAP and is attractively priced at $199,167 per unit. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional two units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-08T09:42:32.573. 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.jelmbergteam.com/homes/114273656
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    1714 3rd Ave Los Angeles, CA 90019

    • Price: $1,195,000
    • Status: Active
    • Updated: 39 min ago
    • MLS #: 21-693764
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    3,310
    SQFT
    $361
    $/SQFT
    1907
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property has 26% remaining rental upside through unit renovations. The property is priced to an in-place 5.05% CAP rate with remaining upside to a 7.01% CAP and is attractively priced at $199,167 per unit. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional two units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.
    Exterior Features

    Lot Size Area 5963 Other Structures None Parking Garage Covered Parking Total Parking 6

    Interior Features

    Baths Total 6.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 413802 Gross Income 94596 Gross Operating Income 91758 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 60351.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 31408 Type Of Units Residential Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-08T09:42:32.573. 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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