3318 Drew Street

    Los Angeles (City), CA 90065
    • $2,000,000
    • STATUS: Closed
    • ON SITE: 344 days
    • MLS #: 19479022
    Sold - 11/21/2019
    $2,000,000
    SOLD - 11/21/2019
    • 14
      BEDS
    • 0.23
      ACRES
    • 12
      BATHS
    • 0
      1/2 BATHS
    • 7,881
      SQFT
    • $0
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    NOTE: 3318 AND 3324 Drew St are available for sale a, 24 units total (two 12 unit buildings side by side). Both will be sold as a portfolio for $4.64 Million. Located adjacent to Atwater Village and Glendale in the Glassell Park neighborhood, the Subject Properties consist of two (2) two-story apartment buildings consisting of twelve (12) units each. The Properties are comprised of eight (8) two bedroom/one bath units and sixteen (16) one bedroom/1 bath units. The Properties have been well maintained by the owner and offer strong upside potential in the rents and via reduced expenses. FIVE UNITS TO BE DELIVERED VACANT (TOTAL BETWEEN BOTH BUILDINGS)! The Properties are also situated on approximately 20,639 SF of land, making it a potential development opportunity. The Subject Property offers easy access to neighboring commercial districts such as Glendale, Atwater Village, Highland Park, Pasadena, Silver Lake, Echo Park, and Downtown LA. SOFT STORY PLANS COMPLETE

    Sold by Eon Lew BRE#01730294 of District Realty Group.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-26T23:43:37.767. 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/96019397

    3318 Drew Street Los Angeles (City), CA 90065

    • Price: $2,350,000
    • Status: Closed
    • Updated: 134 min ago
    • MLS #: 19479022
    14
    Beds
    12
    Baths
    0
    ½ Baths
    0.23
    Acres
    7,881
    SQFT
    $0
    $/SQFT
    1959
    Built
    Neighborhood:
    Glassell Park (623)
    County:
    Los Angeles
    Area:
    Glassell Park (623)
    Property Description
    NOTE: 3318 AND 3324 Drew St are available for sale a, 24 units total (two 12 unit buildings side by side). Both will be sold as a portfolio for $4.64 Million. Located adjacent to Atwater Village and Glendale in the Glassell Park neighborhood, the Subject Properties consist of two (2) two-story apartment buildings consisting of twelve (12) units each. The Properties are comprised of eight (8) two bedroom/one bath units and sixteen (16) one bedroom/1 bath units. The Properties have been well maintained by the owner and offer strong upside potential in the rents and via reduced expenses. FIVE UNITS TO BE DELIVERED VACANT (TOTAL BETWEEN BOTH BUILDINGS)! The Properties are also situated on approximately 20,639 SF of land, making it a potential development opportunity. The Subject Property offers easy access to neighboring commercial districts such as Glendale, Atwater Village, Highland Park, Pasadena, Silver Lake, Echo Park, and Downtown LA. SOFT STORY PLANS COMPLETE
    Exterior Features

    Parking Features Covered Parking Parking Spaces Total 12 Parking Type AssignedGarage Is AttachedCarport AttachedGarage

    Interior Features

    Appliances Refrigerator Cooling Type Window Unit(S) Heating Type Wall Heater Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Unfurnished Unit Furnished06 Unfurnished Unit Furnished07 Unfurnished Unit Furnished08 Unfurnished Unit Furnished09 Unfurnished Unit Furnished10 Unfurnished Unit Furnished11 Unfurnished Unit Furnished12 Unfurnished Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bath04 1.0 Unit Number Of Bath05 1.0 Unit Number Of Bath06 1.0 Unit Number Of Bath07 1.0 Unit Number Of Bath08 1.0 Unit Number Of Bath09 1.0 Unit Number Of Bath10 1.0 Unit Number Of Bath11 1.0 Unit Number Of Bath12 1.0 Unit Number Of Bed01 2 Unit Number Of Bed02 1 Unit Number Of Bed03 1 Unit Number Of Bed04 1 Unit Number Of Bed05 1 Unit Number Of Bed06 1 Unit Number Of Bed07 1 Unit Number Of Bed08 1 Unit Number Of Bed09 2 Unit Number Of Bed10 1 Unit Number Of Bed11 1 Unit Number Of Bed12 2

    Property Features

    Adjusted Gross Income 135848.00 Assessed Improvement Value 615402.00 Assessed Land Value 710895.00 Cap Rate 4.25 Country United States Of America Expense Total Annual 54811.84 Gross Operating Income 135848.00 Gross Rent Multiplier 17.00 Hoa YN N Legal Disclosures Take Property As Is Lot Size Source Vendor Enhanced Net Operating Income 99806.22 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Vendor Enhanced Unit Monthly Rent01 966.65 Unit Monthly Rent02 1132.51 Unit Monthly Rent03 1246.41 Unit Monthly Rent04 1095.61 Unit Monthly Rent05 1270.00 Unit Monthly Rent06 1016.22 Unit Monthly Rent07 901.25 Unit Monthly Rent08 901.25 Unit Monthly Rent09 872.00 Unit Monthly Rent10 872.47 Unit Monthly Rent11 0.00 Unit Monthly Rent12 0.00 Unit Projected Total Monthly Rent01 1900.00 Unit Projected Total Monthly Rent02 1580.00 Unit Projected Total Monthly Rent03 1580.00 Unit Projected Total Monthly Rent04 1580.00 Unit Projected Total Monthly Rent05 1580.00 Unit Projected Total Monthly Rent06 1580.00 Unit Projected Total Monthly Rent07 1580.00 Unit Projected Total Monthly Rent08 1580.00 Unit Projected Total Monthly Rent09 1900.00 Unit Projected Total Monthly Rent10 1580.00 Unit Projected Total Monthly Rent11 1595.00 Unit Projected Total Monthly Rent12 1900.00 Unit Total Monthly Rent01 966.65 Unit Total Monthly Rent02 1132.51 Unit Total Monthly Rent03 1246.41 Unit Total Monthly Rent04 1095.61 Unit Total Monthly Rent05 1270.00 Unit Total Monthly Rent06 1016.22 Unit Total Monthly Rent07 901.25 Unit Total Monthly Rent08 901.25 Unit Total Monthly Rent09 872.00 Unit Total Monthly Rent10 872.47 Unit Total Monthly Rent11 0.00 Unit Total Monthly Rent12 0.00 Unit Type01 1 Unit Type02 1 Unit Type03 1 Unit Type04 1 Unit Type05 1 Units Total In Complex 12 Zoning Lard2

    Listing provided courtesy of Eon Lew DRE#01730294 of District Realty Group.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-26T23:43:37.767. 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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