1820 S La Brea Avenue, Los Angeles, CA 90019
List Price: $3M
Listing Status: Active
Original List Price: $3.2M
0Days on Market: 59
0 Bedrooms · 15 Bathrooms · 6,261 sq ft
Property Type: ResidentialIncome
Year Built: 1963
Lot Size: 5,802 sq ft
MLS Number: 26653223
About This Property
***LOWERED PRICE*** 1820 S. La Brea Avenue is a 6,261 square foot, fifteen-unit apartment building situated on a 5,802 square foot lot in Mid-City, just south of Venice Boulevard. The property offers immediate access to the I-10 Freeway and is centrally located near major Los Angeles employment hubs, retail corridors, dining, and entertainment.The building consists of fifteen studio units, thirteen of which have been recently renovated. Three units are in the process of being delivered vacant, providing additional flexibility for an investor. Nearly all tenants receive government-backed housing assistance, providing stable and reliable income. The property includes eight on-site parking spaces. Offered at a 8.76 GRM and 7.50% CAP rate, the asset provides strong in-place cash flow. Seismic retrofitting has been recently completed, minimizing near-term capital expenditure requirements.The property presents additional value-add potential, including a possible ADU opportunity and the potential for motel-use conversion (buyer to verify). This is a stabilized, income-generating asset located in a highly desirable rental submarket.
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