$6,300,000
1913 3rd St., Los Angeles 90057
1
Bed
2
Baths
20,283
Lot Size
41
# Of Units
Listing Agent
Raymond Rodriguez - Keller Williams Realty CalabasasWe are proud to present The Victorian on 3rd, an amazing multifamily opportunity located at 1901 & 1913 West 3rd Street in The City of Los Angeles, California. This unique apartment complex is comprised of *41 highly improved apartment units in two separate and distinct two-story buildings, and the addition of (1) One-Bedroom + One-Bath detached home. The buildings are constructed of wood frame with a flat/pitched roof and stucco exterior as well as wood siding. Development for each of the buildings was completed in 1942 & 1923 respectively and encompassing a total of **±21,692 building square feet situated on two separate parcels totaling ±20,283 square feet offering a zoning of LAC2 which could be beneficial for future development. *(34) Singles + One Bath Units *(6) One-Bedroom + One-Bath Units *(1) One-Bedroom + One-Bath Detached Unit * Total unit count differs from title and was provided by Seller and is believed to be the correct legal unit count. Buyer to verify. ** Total building square footage differs from title and was provided by Seller and said to be a correct accounting of all improvement square footage including basement. Buyer to verify. *** Currently there are ±21 parking spaces with the potential to add an additional ±3 spaces. Buyer to verify. PROPERTY HIGHLIGHTS + Attractive value metrics of 6.04% Cap Rate | 9.75 GRM | $153,659 CPU + Excellent leverage quoted with attractive interest only financing + Solid day-1 cash flow and additional rental upside potential + Ratio Utility Billing System (RUBS) in place for many units + Major electrical and unit upgrades + Individually metered for gas and electric + Upgraded fire suppression system including hard-wired smoke detectors + 50% plus of the units tastefully remodeled + Complete unit appliance package of gas range, fridge, dishwasher & microwave + Two adjacent buildings & lots on a signalized corner + Separate APNs for each property & zoned LAC2 totaling +/-20,283 sq. ft. of land + Great candidate to capitalize on newly approved Section 8 housing voucher increases + Controlled intercom access and CCTV monitoring + On-site gated parking for 24 cars & 2 separate laundry rooms + Beautifully maintained and clean property
Facts & Features
MLS® # | SR24000632 |
---|---|
Price | $6,300,000 |
Bedrooms | 1 |
Bathrooms | 2.00 |
Lot Size | 20,283 |
Year Built | 1923 |
Type | Residential Income |
Sub-Type | Apartment |
Status | Active Under Contract |
# Of Units | 41 |
Community Information
Address | 1913 3rd St. |
---|---|
Area | C34 - Los Angeles Southwest |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90057 |
Amenities
Parking Spaces | 24 |
---|---|
Parking | Gated |
Garages | Gated |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Has Basement | No |
---|---|
Fireplace | No |
# of Stories | 2 |
Additional Information
Date Listed | January 3rd, 2024 |
---|---|
Days on Market | 115 |
Zoning | LAC2 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Raymond Rodriguez |
---|---|
Office | Keller Williams Realty Calabasas |