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    706 N Vendome St

    Los Angeles, CA 90026
    • $1,575,000
    • STATUS: Active
    • ON SITE: 59 days
    • MLS #: 21-707252
    Price Reduced
    UPDATED: 40 min ago
    $1,575,000
    • 7
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,000
      SQFT
    • $394
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1935
    County:

    School Ratings & Info

    Description

    7 units in Silver Lake on a 9,399 SF lot zoned LAR 1.5. City of LA Assessor says 7 units, but City of LA Housing says 5 units. Per Owner there are 5 legal units + 1 Non-conforming SFR in the back (it rents as a 2/2 + 0+1 and was originally permitted as a Workshop). Given that the City of LA is allowing and encouraging ADU's, there is a good chance the City will allow these two units to be made legal. Buyer to verify. Currently there are 4 studios, 1 1 bedroom and a 2 Bed/3 bath Non-Conforming house in the rear of the property (Rented as a 2/2 and 0/1). Subject to City of LA Rent Control. Seller does not have plans/permits nor are they exactly sure what can be built but has been advised by a Developer that 6 units can be built on the site, each averaging around 2,000 SF. Estimated sellout value would be around $8.4MM ($710/SF). Buyer to verify. Seller upgraded the main electrical panel in 2011 to 200 AMPs. There are 7 carport parking spaces onsite. 2 units can be delivered vacant. Contact LA for more info.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T14:42:57.173. 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/115243826
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    706 N Vendome St Los Angeles, CA 90026

    • Price: $1,575,000
    • Status: Active
    • Updated: 40 min ago
    • MLS #: 21-707252
    7
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    4,000
    SQFT
    $394
    $/SQFT
    1935
    Built
    Neighborhood:
    Silver Lake - Echo Park
    County:
    Los Angeles
    Area:
    Silver Lake - Echo Park
    Property Description
    7 units in Silver Lake on a 9,399 SF lot zoned LAR 1.5. City of LA Assessor says 7 units, but City of LA Housing says 5 units. Per Owner there are 5 legal units + 1 Non-conforming SFR in the back (it rents as a 2/2 + 0+1 and was originally permitted as a Workshop). Given that the City of LA is allowing and encouraging ADU's, there is a good chance the City will allow these two units to be made legal. Buyer to verify. Currently there are 4 studios, 1 1 bedroom and a 2 Bed/3 bath Non-Conforming house in the rear of the property (Rented as a 2/2 and 0/1). Subject to City of LA Rent Control. Seller does not have plans/permits nor are they exactly sure what can be built but has been advised by a Developer that 6 units can be built on the site, each averaging around 2,000 SF. Estimated sellout value would be around $8.4MM ($710/SF). Buyer to verify. Seller upgraded the main electrical panel in 2011 to 200 AMPs. There are 7 carport parking spaces onsite. 2 units can be delivered vacant. Contact LA for more info.
    Exterior Features

    Lot Size Area 9414 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 7.00 Cooling None Equipment None Heating Wall Gas

    Property Features

    Assessed Total Value 892174 Gross Income 125000 Gross Operating Income 125000 Like Units1 5 Like Units2 1 Like Units3 1 Net Operating Income 73000.00 Number Of Buildings 2 Number Of Units 7 Sale Type Standard Source Living Area Owner Source Lot Size Area Vendor Enhanced Total Annual Expense 48000 Type Of Units Income Year Built Source Vendor Enhanced Zoning Lard1.5

    Listing provided courtesy of Jonathan Swire DRE#01336277 of The Agency.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T14:42:57.173. 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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