1907 Malcolm Avenue

    Los Angeles (City), CA 90025
    • $2,500,000
    • STATUS: Active Under Contract
    • ON SITE: 31 days
    • ID#: SB19197239
    Under Contract
    UPDATED: 41 min ago
    $2,500,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,160
      SQFT
    • $406
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Great investment opportunity in West L.A.! This centrally located 5 unit complex is enjoys easy access to the 10 & 405 freeways, Santa Monica Blvd, Overland Ave, and Bundy Drive. This prime residential location is close to UCLA, Century City and the rest of Los Angeles making this a prime income property as it is easy to keep rented. Tenants will enjoy to the nearby restaurants, theaters, bars, boutiques and entertainment galore. The 5 units contain a mix of (1) 1 bed / 1 bath , (2) 3 bed /2 bath and (2) 2 bed / 2 bath. 3 units offer private balconies, 1 unit with a patio and 1 unit with a yard area. Parking is never a concern, 10 total parking spaces (a tandem set per unit) and ample street parking with very few restrictions ensure parking available. This property has been owned and occupied by the current owner for over 40 years, it is very well maintained yet has tremendous value add potential through upgrading and modernizing the units. Check with the City for development opportunities as well. One unit is owner occupied and upon vacancy of that unit you can bring the rent up to market rents.Proforma rents listed are based on current market rents of area, gross rents are assuming the building is performing at the Proforma rents. Proforma rents are not guaranteed.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T21:44:56.43. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or A|G Amaya Group Real Estate. Licensed in the State of California, USA.
    www.amayarealestategroup.com/homes/98065434

    1907 Malcolm Avenue Los Angeles (City), CA 90025

    • Price: $2,500,000
    • Status: Active Under Contract
    • Updated: 41 min ago
    • ID#: SB19197239
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    6,160
    SQFT
    $406
    $/SQFT
    1964
    Built
    Neighborhood:
    WLA - West Los Angeles
    County:
    Los Angeles
    Area:
    WLA - West Los Angeles
    Property Description
    Great investment opportunity in West L.A.! This centrally located 5 unit complex is enjoys easy access to the 10 & 405 freeways, Santa Monica Blvd, Overland Ave, and Bundy Drive. This prime residential location is close to UCLA, Century City and the rest of Los Angeles making this a prime income property as it is easy to keep rented. Tenants will enjoy to the nearby restaurants, theaters, bars, boutiques and entertainment galore. The 5 units contain a mix of (1) 1 bed / 1 bath , (2) 3 bed /2 bath and (2) 2 bed / 2 bath. 3 units offer private balconies, 1 unit with a patio and 1 unit with a yard area. Parking is never a concern, 10 total parking spaces (a tandem set per unit) and ample street parking with very few restrictions ensure parking available. This property has been owned and occupied by the current owner for over 40 years, it is very well maintained yet has tremendous value add potential through upgrading and modernizing the units. Check with the City for development opportunities as well. One unit is owner occupied and upon vacancy of that unit you can bring the rent up to market rents.Proforma rents listed are based on current market rents of area, gross rents are assuming the building is performing at the Proforma rents. Proforma rents are not guaranteed.
    Exterior Features

    Carport Spaces 5.00 Garage Spaces 0.00 Lot Features 2-5 Units/AcreYard Lot Size Source Assessor Lot Size Units Square Feet Parking Features CarportAttached CarportCoveredDrivewayTandem CoveredTandem Uncovered Parking Total 10.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Interior Features Balcony Laundry Features CommunityIndividual Room Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.50 Community Features CurbsSidewalksStreet LightsSuburban Country Us Electric Expense 6156.00 Elevation Units Feet Fuel Expense 5381.00 Gross Income 224240.00 Gross Multiplier 11.70 Gross Operating Income 220909.00 Gross Scheduled Income 223140.00 Insurance Expense 4000.00 Land Lease YN No Laundry Income 1100.00 Laundry YN Yes Maintenance Expense 5000.00 Net Operating Income 165314.00 New Construction YN No New Taxes Expense 29901.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 55594.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 480.00 Tenant Pays ElectricityGas Total Actual Rent 6520.00 Total Expenses 55594.00 Trash Expense 4677.00 Vacancy Allowance 0 Vacancy Allowance Rate 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Edward Kaminsky of Strand Hill Christies International Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T21:44:56.43. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or A|G Amaya Group Real Estate. Licensed in the State of California, USA.
     
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