Skip To Content

349 Virginia Street

El Segundo, CA 90245
  • $3,695,000
  • STATUS: Active Under Contract
  • ON SITE: 96 Days
  • ID#: SB24049689
Under Contract
UPDATED: 129 min ago
$3,695,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1978
County:

School Ratings & Info

Listing Agent(s): Robert Freedman of DOMO Real Estate (310-251-7725) and Greg Geilman of DOMO Real Estate(310-251-7725)


Description

Located on a beautiful, tree-lined street in an idyllic location, this 7-unit walk-up apartment building is surrounded by well maintained apartments, townhomes, condominiums and single family homes, and offers an amazing opportunity for investment in one of the most highly sought after suburbs in Los Angeles. Built in 1978 by the family that still owns it, and meticulously maintains it, this is the first time this building has been on the market. There is 6,640 square feet of living space on a 50 X 143 Street to alley lot with 9 private garages (garages have been earthquake retrofit) and an additional 4 tandem parking spaces. This location in El Segundo is ideal, because its far away from any detrimental factors yet in close proximity to the downtown restaurants, the beach, employment hubs and transportation. All of the units offer two bedrooms, and most offer more than one bath. All but one of the units have been substantially refurbished, and the building itself has been lovingly maintained, including lush landscaping that gives the courtyard a welcoming, homey feel. 5 of the units are flats, and two are townhome style. 6 of the 7 units have fireplaces! All units have individual hot water heaters. There is a spacious on-site laundry for the units to share, and the building has been recently painted, replumbed, reroofed, and has new windows. The rents are mostly balanced, but there is still some upside. The building is professionally managed by First Light Property Management, a trusted name in local management for over 15 years. This is a property that you will be proud to own.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T13:31:38.647. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/148552339
Print Image

349 Virginia Street El Segundo, CA 90245

  • Price: $3,695,000
  • Status: Active Under Contract
  • On Site: 96 Days
  • Updated: 129 min ago
  • ID#: SB24049689
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1978
Built
Neighborhood:
141 - El Segundo
County:
Los Angeles
Area:
141 - El Segundo
Property Description
Located on a beautiful, tree-lined street in an idyllic location, this 7-unit walk-up apartment building is surrounded by well maintained apartments, townhomes, condominiums and single family homes, and offers an amazing opportunity for investment in one of the most highly sought after suburbs in Los Angeles. Built in 1978 by the family that still owns it, and meticulously maintains it, this is the first time this building has been on the market. There is 6,640 square feet of living space on a 50 X 143 Street to alley lot with 9 private garages (garages have been earthquake retrofit) and an additional 4 tandem parking spaces. This location in El Segundo is ideal, because its far away from any detrimental factors yet in close proximity to the downtown restaurants, the beach, employment hubs and transportation. All of the units offer two bedrooms, and most offer more than one bath. All but one of the units have been substantially refurbished, and the building itself has been lovingly maintained, including lush landscaping that gives the courtyard a welcoming, homey feel. 5 of the units are flats, and two are townhome style. 6 of the 7 units have fireplaces! All units have individual hot water heaters. There is a spacious on-site laundry for the units to share, and the building has been recently painted, replumbed, reroofed, and has new windows. The rents are mostly balanced, but there is still some upside. The building is professionally managed by First Light Property Management, a trusted name in local management for over 15 years. This is a property that you will be proud to own.
Exterior Features

Entry Level 1 Entry Location walk up Number Of Separate Electric Meters 8 Parking Total 9 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Appliances DishwasherDisposalGas OvenGas Range Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Forced Air Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.09 Common Interest Community Apartment Community Features BikingCurbsDog ParkParkSuburbanSidewalks Current Financing None Electric Expense 400 Fuel Expense 657 Garage YN Yes Gross Income 20521 Gross Scheduled Income 246262 Insurance Expense 7600 Land Lease YN No Laundry Features Common Area Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 12313 Net Operating Income 151014 New Construction YN No New Taxes Expense 45507 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Number Of Units Leased 7 Operating Expense 90323 Pest Control Expense 787 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesSee Remarks Total Actual Rent 18205 Trash Expense 6516 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedSewer Connected Vacancy Allowance 4925 Vacancy Allowance Rate 2 Water Sewer Expense 3030 Water Source Public Zoning ESR3YY



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T13:31:38.647. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372508234-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372508234-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372508234-2.jpg
Logo
Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Robert Freedman of DOMO Real Estate (310-251-7725) and Greg Geilman of DOMO Real Estate(310-251-7725)