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Key Details
Sold Price $1,370,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,028 sqft
Price per Sqft $340
Subdivision Tract #3788 Lot 9
MLS Listing ID 21784804
Sold Date 11/12/21
HOA Y/N No
Year Built 1949
Lot Size 6,969 Sqft
Acres 0.16
Property Description
Proudly presenting this prime Mid-City 4plex at 1280 West Blvd, LA 90019. Featuring four large 2+1 units with 4,028 total rentable SF. At our $1.4M asking price, the property is priced at: $350,000/unit; a 16.25 current GRM; a 12.15 market GRM; a 4.08% current CAP; a 5.93% market CAP, and $348/SF. This clean asset presents an investor with stable in-place income, plus great future rent upside as the existing tenants vacate. All four units are currently tenant occupied, but an owner-user buyer could legally vacate a unit through the City once the eviction moratorium is lifted. This large 7,031sf lot zoned R3 also offers future redevelopment potential allowing for approx. 8 units by-right (also TOC Tier 2). Prime Mid-City location steps from the Queen Anne Park/Recreation Center and a short walk to the Midtown Crossing center with its great list of national retailers including: Lowes; Ross; Smart & Final; Starbuck's; Wells Fargo; Chase, Planet Fitness; Jersey Mike's & Panda Express to name a few. Additionally, the property is less than a mile from numerous grocery options including Ralphs; Sprouts, and the new Target Mid-City located locally on La Brea. Also only a short trip to local food favorites like Gus's Fried Chicken; the Grain Cafe; Tom's Burgers; La Cevicheria; Leo's Taco Truck, and Mateo's Fruit Bars to name a few options. A fantastic walk score of 90 and transit score of 64 makes this property a walker/commuter's paradise. It's also a very family-friendly neighborhood with great parks like LA High Memorial & Harold Henry Park in close proximity, as well as quality local education options including Pico Preschool; Queen Anne Place Elementary, and LA High School. Contact us today before this unique property is gone.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR3
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Disposal, Microwave, Refrigerator, Dryer, Washer
Laundry Common Area
Exterior
Garage Driveway
Garage Spaces 4.0
Garage Description 4.0
Pool None
View Y/N Yes
View City Lights
Parking Type Driveway
Total Parking Spaces 8
Private Pool No
Building
Faces West
Story 2
Entry Level Multi/Split
Sewer Other
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5082011007
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Kimiyasu Murayoshi • Andrew C. Lee
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960