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$ 1,100,000
Est. payment | /mo
6,059 SqFt
$ 1,100,000
Est. payment | /mo
6,059 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,059 sqft
Price per Sqft $181
MLS Listing ID 25544861
HOA Y/N No
Year Built 1965
Lot Size 7,000 Sqft
Property Description
1651 Vineyard Avenue is a multifamily property constructed in 1965 on a 6,998square foot lot, with a total building size of 4,346 square foot. The propertyfeatures a well-maintained structure with controlled access and is separatelymetered for utilities.The property boasts an attractive unit mix of 5 two-bedroom/one-bathroomand 1 one-bedroom/one-bathroom unit. While the current management hasmaintained the property diligently, many tenants are long-term residents, andcurrent rents are approximately 77% on average below market rates. A newowner can capitalize on this opportunity by adjusting rents to market levelsupon vacancies and implementing targeted renovations to further increase revenue potential. Situated in a thriving neighborhood, 1651 Vineyard Avenue is within closeproximity to a variety of local amenities, including shopping centers,restaurants, parks, and entertainment venues. Given the property's strong fundamentalssuch as its favorable unit mix, solidconstruction, and exceptional location1651 Vineyard Avenue represents acompelling investment opportunity for those seeking growth, stability, and ahedge against inflation in the vibrant Los Angeles market.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning RD 1.5-1-O
Interior
Heating None
Fireplace No
Laundry None
Exterior
Parking Features None
Pool None
Total Parking Spaces 6
Private Pool No
Building
Story 1
Entry Level One
Sewer Other
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5071019041
Special Listing Condition Standard
Listed by Jenny Eng • CBRE