Skip To Content
    Return to Previous Page

    1984 Park Grove Ave

    Los Angeles, CA 90007
    • $4,350,000
    • STATUS: Active
    • ON SITE: 95 days
    • ID#: 20-594172
    UPDATED: 58 min ago
    $4,350,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,549
      SQFT
    • $299
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1912
    County:

    School Ratings & Info

    Description

    I am pleased to present the opportunity to acquire 1984 Park Grove Avenue, a 26-unit value-add opportunity situated between University Park and Downtown Los Angeles, two of the most popular submarkets for investors in Los Angeles. The property consists of one building totaling 14,549 square feet. The unit mix is comprised of 17 studios and nine one-bedroom/one-bathroom units. Current ownership has extensively renovated 16 of the 26 units at the property including new cabinetry, granite or quartz counters, tiled bathrooms, new flooring, exposed brick walls (select units) and stainless steel appliances (select units). The continued gentrification of the surrounding area along with the significant value-add potential for a new owner to renovate the remaining 10 unrenovated units and achieve superior future returns moving forward make 1984 Park Grove Avenue an excellent acquisition opportunity.

    Monthly Payment Calculator



    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-26T17:42:23.11. 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/107108662
    Print Image

    1984 Park Grove Ave Los Angeles, CA 90007

    • Price: $4,350,000
    • Status: Active
    • Updated: 58 min ago
    • ID#: 20-594172
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    14,549
    SQFT
    $299
    $/SQFT
    1912
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    I am pleased to present the opportunity to acquire 1984 Park Grove Avenue, a 26-unit value-add opportunity situated between University Park and Downtown Los Angeles, two of the most popular submarkets for investors in Los Angeles. The property consists of one building totaling 14,549 square feet. The unit mix is comprised of 17 studios and nine one-bedroom/one-bathroom units. Current ownership has extensively renovated 16 of the 26 units at the property including new cabinetry, granite or quartz counters, tiled bathrooms, new flooring, exposed brick walls (select units) and stainless steel appliances (select units). The continued gentrification of the surrounding area along with the significant value-add potential for a new owner to renovate the remaining 10 unrenovated units and achieve superior future returns moving forward make 1984 Park Grove Avenue an excellent acquisition opportunity.
    Exterior Features

    Lot Size Area 4732 Other Structures None Parking Garage None Total Parking 0 View Description City View YN Yes

    Interior Features

    Baths Total 26.00 Cooling Ceiling Fan Equipment Ceiling FanRefrigeratorRange/OvenMicrowave Heating Wall Laundry Laundry Area Water Heater Features Central Water Heater

    Property Features

    Assessed Total Value 2386954 Gross Income 362157 Gross Operating Income 365213 Like Units1 11 Like Units2 6 Like Units3 1 Like Units4 5 Like Units5 3 Net Operating Income 214666.00 Number Of Buildings 1 Number Of Units 26 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 150547 Type Of Units Residential Water Heaters YN Yes Year Built Source Assessor Zoning Rd2-1Xl-O-Hpoz

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


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-26T17:42:23.11. 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.
     
    https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-594172-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-594172-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-594172-2.jpg
    Logo
    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377