Back To Search
1329 2nd Avenue
Los Angeles, CA 90019
Sold
1329 2nd Ave, a 6-unit value add investment opportunity located in Arlington Heights between S Western Ave and Crenshaw Blvd, just off Pico Blvd and north of the Santa Monica Freeway. This property is made up of two structures including a four-plex in the front with 1+1's and a duplex with two singles in the rear structure; additionally, there are four enclosed garages with an additional two parking spaces. An investor can achieve just over 37% rental upside through interior unit renovations as the units are leased at below market rents; once stabilized, the pro forma CAP rate is projected to be 6.34%. There is currently an accessory space at the rear structure of the property that is vacant. There is potential to legalize into a unit for additional income - buyer to verify. Gas and electricity is separately metered; one unit currently has laundry but all units in the fourplex have washer and dryer hookups. Three of the units will be delivered vacant allowing the new owner to preform renovations upon closing. Arlington Heights is a historic area which embodies a huge, diverse community filled with many charms and local surprises. Along with its architectural beauty the friendliness and movement towards a sustainable neighborhood makes this area a very desirable place to live, work, and play. 1329 2nd Ave has a high walk score of 81, proximity to schools, employment, and transit options make this location convenient for residents to shop and commute throughout the city. Additionally nearby destinations such as Koreatown, Hollywood and Downtown LA are within a 15 minute drive.
PROPERTY INFORMATION
| MLS # | 22206101 | Lot Size | 7,500 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,515,000
Price Per SqFt: $ 260 |
DOM | 942 Days |
| Address | 1329 2nd Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 5,824 Sq. Ft. |
| Postal Code | 90019 | Garage | N/A |
| County | Los Angeles | Year Built | 1906 |
| Bed / Bath | 8 / 0 | Parking | N/A |
| Built In | 1906 | Status | Closed |
| Sold Date | 2022-12-07 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Stackable |
| Has Heating | Yes |
| Heating Information | Natural Gas |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
| InteriorFeatures Information | Ceiling Fan(s) |
EXTERIOR FEATURES
WALKSCORE
Walk Score: 86 (Very Walkable)
Transit Score: 64 (Good Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,616
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 12/07/2022 | Sold | $1,500,000 |
| 10/10/2022 | Listed | $1,515,000 |
| 10/05/2022 | Sold | $1,515,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
Interested in buying or selling a home similar to 1329 2nd Avenue?
Los Angeles Similar Properties
Listing provided courtesy of Neema Ahadian, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
