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2592 Armacost Ave

Los Angeles, CA 90064
  • $2,300,000
  • STATUS: Active
  • ON SITE: 8 Days
  • MLS #: 22-117629
UPDATED: 55 min ago
$2,300,000
  • 6
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,832
    SQFT
  • $600
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:
Area:

School Ratings & Info

Description

This 5-unit Multi-family asset is located in West Los Angeles, in the heart of Silicon Beach. The property boasts a desirable unit mix of two(2) two-bedroom, two(2) one-bedroom and one(1) studio. There is also potential to add an Accessory Dwelling Unit(ADU) above the detached garage(buyer to verify with LA City Planning). Three of the five units have been extensively renovated, featuring double-paned windows, laminate flooring, stainless steel appliances, recessed lighting and modern touches, with in-unit laundry added to each renovated unit. 2592 Armacost Ave is situated on a corner lot on a mostly residential street providing ample street parking. There are also 5 enclosed garage parking spaces with no seismic retrofit required. This investment is in a very strong rental market as it is situated within a 1 mile radius from many of the Silicon Beach tech titans(Snapchat Inc., Activision, Oracle and Hulu).This is a true value add investment with over 32% upside in the current rents. Please do not disturb the tenants. All showings will be subject to an accepted offer.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T07:42:19.183. 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/124635516
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2592 Armacost Ave Los Angeles, CA 90064

  • Price: $2,300,000
  • Status: Active
  • On Site: 8 Days
  • Updated: 55 min ago
  • MLS #: 22-117629
6
Beds
0
Baths
0
½ Baths
0.12
Acres
3,832
SQFT
$600
$/SQFT
1950
Built
Neighborhood:
West L.A.
County:
Los Angeles
Area:
West L.A.
Property Description
This 5-unit Multi-family asset is located in West Los Angeles, in the heart of Silicon Beach. The property boasts a desirable unit mix of two(2) two-bedroom, two(2) one-bedroom and one(1) studio. There is also potential to add an Accessory Dwelling Unit(ADU) above the detached garage(buyer to verify with LA City Planning). Three of the five units have been extensively renovated, featuring double-paned windows, laminate flooring, stainless steel appliances, recessed lighting and modern touches, with in-unit laundry added to each renovated unit. 2592 Armacost Ave is situated on a corner lot on a mostly residential street providing ample street parking. There are also 5 enclosed garage parking spaces with no seismic retrofit required. This investment is in a very strong rental market as it is situated within a 1 mile radius from many of the Silicon Beach tech titans(Snapchat Inc., Activision, Oracle and Hulu).This is a true value add investment with over 32% upside in the current rents. Please do not disturb the tenants. All showings will be subject to an accepted offer.
Exterior Features

Levels Two Lot Size Area 5419 Other Structures Stall(S) Parking Garage Garage - 4+ CarGarage Is DetachedCovered Parking Total Parking 5

Interior Features

Bathroom Features Remodeled Baths Total 5.00 Cooking Appliances Built-Ins Cooling Wall/Window Equipment DishwasherRange/OvenRefrigeratorStackable W/D HookupWasherDryer Heating Wall Laundry In Unit Windows Double Pane Windows

Property Features

Assessed Total Value 1592218 Gross Income 120840 Gross Operating Income 120840 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 67053.00 Number Of Buildings 1 Number Of Units 5 Owner Pays Water Property Condition Updated/Remodeled Sale Type Standard Source Living Area Title Company Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 50162 Type Of Units Multifamily Year Built Source Assessor Zoning Lard1.5

Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T07:42:19.183. 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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