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$ 2,550,000
Est. payment | /mo
15 Beds
16 Baths
14,006 SqFt
$ 2,550,000
Est. payment | /mo
15 Beds
16 Baths
14,006 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,006 sqft
Price per Sqft $182
MLS Listing ID 25562373
Bedrooms 15
HOA Y/N No
Year Built 1958
Lot Size 0.367 Acres
Property Description
The Camellia House Apartments is a 13-unit apartment building plus one (1) non-conforming unit located at 4505 Santa Rosalia Drive in the prime Baldwin Village neighborhood of Los Angeles. Built in 1958, the property sits on a 15,991 square foot LAR3-zoned lot and features a unit mix of (11) one-bedroom/one-bath units, (2) two-bedroom/two-bath units, and (1) non-conforming one-bedroom/one-bath unit. The building spans 14,066 square feet with oversized floor plans averaging approximately 1,000 square feet well above submarket averages. A beautifully re-surfaced pool and patio area anchor the lush courtyard, creating a desirable and peaceful environment for residents.Camellia House offers investors a strong value-add and income opportunity, with four (4) vacant units plus one (1) vacant non-conforming unit ready for lease-up. The property has undergone just under $120,000 in recent capital improvements in the past 60 days, including the full interior renovation of three (3) units, extensive landscaping work, a full resurfacing with epoxy flooring for five stairwells, the main entry & courtyard, and more. The building includes gated parking for 10 vehicles(7) tuck-under and (3) garage spots along with a shared laundry room generating additional income. The main electric panel has been updated, and utilities are separately metered for gas and electricity. Notably, five of the units are currently occupied by Section 8 or VASH tenants, making this a fantastic Section 8 investment opportunity. One-bedroom units at the property are currently achieving as much as $2,230/month, with current voucher limits for the 90008 zip code at $2,172 for 1BRs and $2,748 for 2BRs. The required soft-story retrofit work has not yet been completed. Offered at an extremely attractive basis of just $182 per square foot and 8.33 GRM, Camellia House presents a rare opportunity to acquire scale, cash flow, and upside in one of South LA's most dynamic and evolving neighborhoods.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Central Air
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered, Garage
Garage Spaces 3.0
Garage Description 3.0
Pool In Ground
Total Parking Spaces 10
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5030012006
Special Listing Condition Standard
Listed by Jake Glaser Lyon Stahl Investment Real Estate, Inc.