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3105 Bellevue Ave

Los Angeles, CA 90026
  • $2,349,000
  • STATUS: Active
  • ON SITE: 39 days
  • MLS #: 21-695568
UPDATED: 40 min ago
$2,349,000
  • 26
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 19,206
    SQFT
  • $122
    $/SQFT
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

A DEVELOPMENT OPPORTUNITY LOCATED IN THE TRENDY NEIGHBORHOOD OF SILVER LAKE. 3105 W. BELLEVUE AVE. IS SOLD WITH PLANS & PERMITS READY TO ISSUE (RTI) FOR A 26-UNIT MULTI-FAMILY APARTMENT WITH A GYM/REC-ROOM, AND A ROOFTOP DECK. THE PROPERTY HAS A C2 ZONING WITH TOC TIER 1. THE UNIT MIX IS COMPRISED OF TWENTY-FIVE (1+1 UNITS) AND ONE UNIT IS A (2-LEVEL TOWNHOUSE STYLE 1-BEDROOM AND A DEN WITH 2-BATHROOMS). FOUR OF THE 26 UNITS ARE DESIGNATED AS LOW-INCOME UNITS. THE PLANS CALL FOR 13 ON-GRADE PARKING SPACES. NO SUBTERRANEAN PARKING NEEDED, WHICH IS A HUGE SAVINGS ON TIME AND MONEY DURING CONSTRUCTION. THE BUILDING IS A 5-STORY APARTMENT BUILDING WITH A ROOFTOP DECK AND GREAT VIEWS FROM MOST OF THE UNITS. AFFORDABLE TYPE-V CONSTRUCTION WILL KEEP THE DEVELOPMENT COSTS DOWN. CURRENTLY IT SITS AS A 3-UNIT PROPERTY, WHICH WILL BE DELIVERED VACANT-ANOTHER TIME AND MONEY SAVER FOR THE BUYER. THE WATER AND POWER UTILITIES WILL BE SUB-METERED AND PAID BY THE TENANTS. THE BUILDING WAS DESIGNED WITH THE HIGHEST RETURN ON INVESTMENT IN MIND FOR THE DEVELOPER/LANDLORD. THERE IS MINIMAL DUCTING REQUIRED. EACH UNIT SHALL HAVE A VENT-LESS CLOTHES WASHER AND DRYERS. AS AN ADDED BONUS ($50K VALUE), THE PROPERTY HAS A CONDO TRACT MAP SUB-DIVISION APPROVED. SELLER IS OPEN TO A JOINT VENTURE AGREEMENT W/ THE BUYER/DEVELOPER.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T06:43:09.893. 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/116769562
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3105 Bellevue Ave Los Angeles, CA 90026

  • Price: $2,349,000
  • Status: Active
  • Updated: 40 min ago
  • MLS #: 21-695568
26
Beds
0
Baths
0
½ Baths
0.17
Acres
19,206
SQFT
$122
$/SQFT
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
A DEVELOPMENT OPPORTUNITY LOCATED IN THE TRENDY NEIGHBORHOOD OF SILVER LAKE. 3105 W. BELLEVUE AVE. IS SOLD WITH PLANS & PERMITS READY TO ISSUE (RTI) FOR A 26-UNIT MULTI-FAMILY APARTMENT WITH A GYM/REC-ROOM, AND A ROOFTOP DECK. THE PROPERTY HAS A C2 ZONING WITH TOC TIER 1. THE UNIT MIX IS COMPRISED OF TWENTY-FIVE (1+1 UNITS) AND ONE UNIT IS A (2-LEVEL TOWNHOUSE STYLE 1-BEDROOM AND A DEN WITH 2-BATHROOMS). FOUR OF THE 26 UNITS ARE DESIGNATED AS LOW-INCOME UNITS. THE PLANS CALL FOR 13 ON-GRADE PARKING SPACES. NO SUBTERRANEAN PARKING NEEDED, WHICH IS A HUGE SAVINGS ON TIME AND MONEY DURING CONSTRUCTION. THE BUILDING IS A 5-STORY APARTMENT BUILDING WITH A ROOFTOP DECK AND GREAT VIEWS FROM MOST OF THE UNITS. AFFORDABLE TYPE-V CONSTRUCTION WILL KEEP THE DEVELOPMENT COSTS DOWN. CURRENTLY IT SITS AS A 3-UNIT PROPERTY, WHICH WILL BE DELIVERED VACANT-ANOTHER TIME AND MONEY SAVER FOR THE BUYER. THE WATER AND POWER UTILITIES WILL BE SUB-METERED AND PAID BY THE TENANTS. THE BUILDING WAS DESIGNED WITH THE HIGHEST RETURN ON INVESTMENT IN MIND FOR THE DEVELOPER/LANDLORD. THERE IS MINIMAL DUCTING REQUIRED. EACH UNIT SHALL HAVE A VENT-LESS CLOTHES WASHER AND DRYERS. AS AN ADDED BONUS ($50K VALUE), THE PROPERTY HAS A CONDO TRACT MAP SUB-DIVISION APPROVED. SELLER IS OPEN TO A JOINT VENTURE AGREEMENT W/ THE BUYER/DEVELOPER.
Exterior Features

Covered Parking 13 Garage Structures Total 1 Lot Location City Lot Size Area 7498 Other Structures None Parking Garage Covered ParkingCommunity GarageGarage Total Parking 13 View Description CityCity Lights View YN Yes

Interior Features

Baths Total 28.00 Cooling None Equipment None Heating None Laundry In Unit Water Heater Features Central Water HeaterGasTankless

Property Features

Assessed Total Value 606170 Builders Name Tbd Electric Expense 200.00 Gardener Expense 100.00 Gross Income 62245 Gross Operating Income 59174 Insurance Expense 1250.00 Like Units1 21 Like Units2 4 Like Units3 1 Like Units4 1 Maintenance Expense 400.00 Net Operating Income 47629.00 Number Of Buildings 1 Number Of Units 26 Property Condition Tear Down Rent Control YN Yes Sale Type Standard Source Living Area Plans Source Lot Size Area Vendor Enhanced Total Annual Expense 14616 Type Of Units Apartments Water Expense 200.00 Zoning Lac2

Listing provided courtesy of Fred Nabati DRE#01276914 of Trimax Realty, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T06:43:09.893. 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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