1135 S Corning St, Los Angeles, CA 90035

Property Description

1135 S. Corning St. is a well-maintained four-unit property ideal for an owner-occupier or multi-family investor seeking stable income with significant long-term upside. The four units are situated in a highly desirable rental location adjacent to Beverly Hills, Miracle Mile, Beverlywood and Century City. The property comprises four spacious one-bedroom, one-bathroom units, each with a dining room and in-unit washer/dryer machines. Three of the four units have been tastefully renovated. All tenants are currently paying below-market rents, presenting a quintessential value-add opportunity for new ownership. This building is particularly well-suited for an owner-occupier, who could occupy one unit while benefiting from favorable financing terms and generating rental income to offset mortgage costs. The building encompasses approximately 3,998 SF on a generous 6,112 SF lot zoned LAR3. The lot size and R3 zoning unlock a variety of future multi-family development opportunities. Towards the back of the lot are two garages that can potentially be converted into ADU units. Offered to market for the first time in over 30 years, this fourplex is priced attractively at only $373 per SF. The property will be delivered with all tenants in place and Buyer's will not be able to communicate with currents tenants during the DD period or while in escrow. 1135 S. Corning presents an excellent opportunity for both owner-occupiers and seasoned multi-family investors.