618 Midvale Avenue

    Los Angeles (City), CA 90024
    • $3,995,000
    • STATUS: Pending
    • ON SITE: 82 days
    • ID#: 18348826
    Pending
    UPDATED: 73 min ago
    $3,995,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,857
      SQFT
    • $583
      $/SQFT
    Type:
    Multi-Family
    Built:
    1950
    County:

    School Ratings & Info

    Description

    BACK ON MARKET! BUYER DID NOT PERFORM. 618 Midvale is an 8-unit gem that has been family owned since it was built in 1950. Exceptionally well maintained, it will be delivered with 5 units vacant. 618 Midvale is a short 8-minute walk to UCLA yet it lies on a quiet tree-lined stretch with ample parking and a neighborhood feel. Truly a rare combination. With 5 units delivered vacant at the close of escrow, the new owner will be able to immediately renovate 62% of the units and achieve maximum rents which can rival those in Beverly Hills. The lot is oversized at 8,832 square feet and is zoned [Q]R4-1VL. The property's Certificate Of Occupancy states 7 legal units, however the building is currently operated as 8 units and has been operated as 8 or 9 units continuously for over 50 years. This is the result of (2) 2-bed/2-bath "flexible" units which have internal doors allowing those units to be operated as a 1-bed/1-bath and a bachelor unit without the need for any building modifications.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-20T15:30:10.5. 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.
    www.playavistaliving.com/homes/84040413

    618 Midvale Avenue Los Angeles (City), CA 90024

    • Price: $3,995,000
    • Status: Pending
    • Updated: 73 min ago
    • ID#: 18348826
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    6,857
    SQFT
    $583
    $/SQFT
    1950
    Built
    Neighborhood:
    C05 - Westwood - Century City
    County:
    Los Angeles
    Area:
    C05 - Westwood - Century City
    Property Description
    BACK ON MARKET! BUYER DID NOT PERFORM. 618 Midvale is an 8-unit gem that has been family owned since it was built in 1950. Exceptionally well maintained, it will be delivered with 5 units vacant. 618 Midvale is a short 8-minute walk to UCLA yet it lies on a quiet tree-lined stretch with ample parking and a neighborhood feel. Truly a rare combination. With 5 units delivered vacant at the close of escrow, the new owner will be able to immediately renovate 62% of the units and achieve maximum rents which can rival those in Beverly Hills. The lot is oversized at 8,832 square feet and is zoned [Q]R4-1VL. The property's Certificate Of Occupancy states 7 legal units, however the building is currently operated as 8 units and has been operated as 8 or 9 units continuously for over 50 years. This is the result of (2) 2-bed/2-bath "flexible" units which have internal doors allowing those units to be operated as a 1-bed/1-bath and a bachelor unit without the need for any building modifications.
    Exterior Features

    Lot Size Units Square Feet Parking Features Covered Parking Parking YN Yes

    Interior Features

    Cooling Wall Window Cooling YN Yes Laundry Features See Remarks

    Property Features

    Gross Multiplier 18.46 Gross Operating Income 216360.00 Laundry YN Yes Net Operating Income 132462.00 Special Listing Conditions Standard Total Expenses 77407.00 Zoning Lar4

    Listing provided courtesy of Robert Renshaw of Remax Commercial & Investment and Jonathan Taksa of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-20T15:30:10.5. 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.
     
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