4080 Redwood Avenue

    Los Angeles (City), CA 90066
    • $10,595,000
    • STATUS: Active Under Contract
    • ON SITE: 152 days
    • ID#: 18344456
    Under Contract
    UPDATED: 61 min ago
    $10,595,000
    • 0
      BEDS
    • 0.55
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,088
      SQFT
    • $620
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    Price reduced. 3 Contiguous lots being offered with 28 units combined as a development opportunity in prime Silicon Beach and Del Rey art district. 23,846 sq ft combined lot size situated in the midst of some of the largest developments underway in Los Angeles. Potential to build a large apartment complex or condo's in one of the most sought-after area's close to Playa Vista, Marina Del Rey and Venice Beach. This asset is currently comprised of 29 unit rental property with a mix of 7 studios, 8 (1+1) 13 (2+1) and 1 x 3 bd unit and 34 parking spaces. Rent raises are due in November and a current total GI of $504,564 annually still making this a financeable property in its current use. Historically a low vacancy area with high demand for rental units. Google, Snapchat, Yahoo, and Tesla to name a few of the surrounding companies calling Silicon beach their home along with new developments underway with movie theaters, world class Restaurants and shopping within walking distance.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-16T19:30:25.977. 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. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/83650807

    4080 Redwood Avenue Los Angeles (City), CA 90066

    • Price: $10,595,000
    • Status: Active Under Contract
    • Updated: 61 min ago
    • ID#: 18344456
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.55
    Acres
    17,088
    SQFT
    $620
    $/SQFT
    1958
    Built
    Neighborhood:
    C13 - Palms - Mar Vista
    County:
    Los Angeles
    Area:
    C13 - Palms - Mar Vista
    Property Description
    Price reduced. 3 Contiguous lots being offered with 28 units combined as a development opportunity in prime Silicon Beach and Del Rey art district. 23,846 sq ft combined lot size situated in the midst of some of the largest developments underway in Los Angeles. Potential to build a large apartment complex or condo's in one of the most sought-after area's close to Playa Vista, Marina Del Rey and Venice Beach. This asset is currently comprised of 29 unit rental property with a mix of 7 studios, 8 (1+1) 13 (2+1) and 1 x 3 bd unit and 34 parking spaces. Rent raises are due in November and a current total GI of $504,564 annually still making this a financeable property in its current use. Historically a low vacancy area with high demand for rental units. Google, Snapchat, Yahoo, and Tesla to name a few of the surrounding companies calling Silicon beach their home along with new developments underway with movie theaters, world class Restaurants and shopping within walking distance.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Subterranean Parking YN Yes View None View YN No

    Interior Features

    Appliances Dishwasher Appliances YN Yes Cooling Wall Window Cooling YN Yes Laundry Features Community Room Type See Remarks

    Property Features

    Cap Rate 2.92 Electric Expense 21600.00 Gross Income 39253.00 Gross Multiplier 22.45 Gross Operating Income 504564.00 Gross Scheduled Income 471036.00 Insurance Expense 2204.00 Laundry Income 420.00 Laundry YN Yes Licenses Expense 3255.00 Maintenance Expense 35088.00 Net Operating Income 288171.00 Professional Management Expense 13609.00 Security Features Carbon Monoxide Detector(S)Smoke Detector Special Listing Conditions Standard Supplies Expense 12672.00 Total Expenses 169159.00 Zoning Lar3

    Listing provided courtesy of James Allan of Coldwell Banker Residential Br.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-16T19:30:25.977. 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. Licensed in the State of California, USA.
     
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