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2677 Moss Avenue
Los Angeles, CA 90065
Sold
7 unit value-add apartment complex located in Los Angeles (Glassell Park), CA. The property resides along Eagle Rock Blvd., a few miles southwest of Eagle Rock's Occidental College. Glassell Park is an LA sub-market north of Downtown LA, which is borderedby Glendale, Silver Lake, Eagle Rock, Highland Park, Cypress Park, Mt. Washington and Atwater Village. Its centralized LA County location provides extended proximity toHollywood, Koreatown, Downtown LA, Monterey Park, Alhambra and Pasadena. The area itself is a hilly neighborhood with modest homes and fashionable neighbors, serviced by many locally owned eateries and shopping boutiques. Residents are further benefited by public transportation and quick access to the 2 and 5 Freeways. This continually flourishing sub-market coupled with a property generating income 130% well-below market, presents an investor with a considerable opportunity worth seizing. In recent years the owners have spent significant funds performing repairs to the exterior. In addition to re-landscaping the front, re-painting the entire building, installing seismic gas shut-off valves and completing soft-story seismic retrofit (permitted 03/2020). The majority of the interiors require full renovation. There are 7 parking spaces equally assigned to each unit (at no cost to tenant). There is a dedicated on-site laundry room, which currently has no machines. Charging for parking and providing laundry machines are opportunities to immediately enhance yield. Additionally, market rents are projected at $2,100 for all the 2BR units after full renovation, which equates to 130% in rental upside. The property is subject to The City of LA Rent Stabilization Ordinance (RSO).
PROPERTY INFORMATION
| MLS # | 22208307 | Lot Size | 7,478 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,570,000
Price Per SqFt: $ 307 |
DOM | 933 Days |
| Address | 2677 Moss Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 5,115 Sq. Ft. |
| Postal Code | 90065 | Garage | N/A |
| County | Los Angeles | Year Built | 1963 |
| Bed / Bath | 14 / 0 | Parking | 7 |
| Built In | 1963 | Status | Closed |
| Sold Date | 2023-08-11 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | None |
| Has Cooling | No |
| Cooling Information | None |
| EntryLocation | Main Level |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,675
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 06/02/2023 | Relisted | $1,570,000 |
| 05/30/2023 | Active Under Contract | $1,570,000 |
| 04/17/2023 | Active | $1,570,000 |
| 01/10/2023 | Active | $1,570,000 |
| 10/13/2022 | Listed | $1,570,000 |
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Listing provided courtesy of Matthew Lee, Lilly Enterprises, Inc.. 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.
