$1,460,000
$1,550,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
9 Beds
9 Baths
5,797 SqFt
SOLD DATE : 11/19/2024
Key Details
Sold Price $1,460,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,797 sqft
Price per Sqft $251
MLS Listing ID 24-388373
Sold Date 11/19/24
Bedrooms 9
Year Built 1964
Lot Size 6,825 Sqft
Acres 0.1567
Property Description
We are pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase. The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area. Situated on a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 64% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities. 1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Garage Covered Parking, Uncovered
Garage Spaces 9.0
Building
Story 2
Level or Stories Two, Multi/Split
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Eagles Mortgage Company Inc.
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