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    1714 3RD Ave

    Los Angeles, CA 90019
    • $1,100,000
    • STATUS: Active
    • ON SITE: 93 days
    • ID#: 20-592280
    UPDATED: 0 min ago
    $1,100,000
    • 6
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,310
      SQFT
    • $332
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1907
    County:

    School Ratings & Info

    Description

    I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property comprises of six one-bedroom units, two of which will be delivered vacant. Current ownership has extensively renovated two of the six units at the property including adding stainless appliances, new laminate flooring and newly painted interior. Renovated units are achieving $1,013 premiums over the average in-place rents. The property has 49% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional four units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-19T07:42:20.217. 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.lydiagable.com/homes/106949347
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    1714 3RD Ave Los Angeles, CA 90019

    • Price: $1,100,000
    • Status: Active
    • Updated: 0 min ago
    • ID#: 20-592280
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    3,310
    SQFT
    $332
    $/SQFT
    1907
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property comprises of six one-bedroom units, two of which will be delivered vacant. Current ownership has extensively renovated two of the six units at the property including adding stainless appliances, new laminate flooring and newly painted interior. Renovated units are achieving $1,013 premiums over the average in-place rents. The property has 49% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional four units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.
    Exterior Features

    Covered Parking 4 Cross Streets 17th Lot Size Area 5963 Other Structures None Parking Garage Covered ParkingUncovered Total Parking 6

    Interior Features

    Baths Total 6.00 Cooling Other Equipment None Heating Central

    Property Features

    Assessed Total Value 413802 Gross Income 79704 Gross Operating Income 77313 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 48174.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Other Total Annual Expense 29139 Type Of Units Residential Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-19T07:42:20.217. 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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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377