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1280 West Blvd

Los Angeles, CA 90019
  • $1,400,000
  • STATUS: Active Under Contract
  • ON SITE: 32 Days
  • MLS #: 21-784804
Under Contract
UPDATED: 22 min ago
$1,400,000
  • 8
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,028
    SQFT
  • $348
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1949
County:

School Ratings & Info

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-19T17:42:49.673. 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.markwiseproperties.com/homes/121514040
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1280 West Blvd Los Angeles, CA 90019

  • Price: $1,400,000
  • Status: Active Under Contract
  • Updated: 22 min ago
  • MLS #: 21-784804
8
Beds
0
Baths
0
½ Baths
0.16
Acres
4,028
SQFT
$348
$/SQFT
1949
Built
Neighborhood:
Tract #3788 Lot 9
County:
Los Angeles
Area:
Hancock Park-Wilshire
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.
Exterior Features

Cross Streets Pico & West Blvd Direction Faces West Levels Multi/Split Lot Size Area 7031 Other Structures None Parking Garage Garage - 4+ CarDriveway Pool Description None Pool YN No Spa None Spa YN No Total Parking 8 View Description CityCity Lights View YN Yes

Interior Features

Baths Total 4.00 Common Walls Attached Cooling None Equipment CableDryerFreezerGarbage DisposalIce MakerMicrowaveRange/OvenRefrigeratorSatelliteWasher Heating Wall Laundry Community

Property Features

Assessed Total Value 765364 Gross Income 86148 Gross Operating Income 86148 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 57167.00 Number Of Buildings 1 Number Of Units 4 Owner Pays GardenerWater Rent Control YN Yes Sale Type Standard Sewer In Street Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 26396 Type Of Units Rental Water Public Water Heaters YN Yes Year Built Source Assessor Zoning Lar3

Listing provided courtesy of Matthew Dunfrund DRE# of Keller Williams Realty Los Feliz.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-19T17:42:49.673. 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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Mark Wise | Bennion Deville Homes
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