3623 Monon Street
Los Angeles, CA, 90027 $ 3,215,000
Baths0.0 Sq 7,016 Monthly Estimate*
$ 21,368
Studio
for $3,215,000. This 7,016 square foot home was built in 1966 on a lot size of 0.19.
We are pleased to present 3623-3625 Monon Street, an exceptionally well-located, well-maintained 2-story, 9-unit value-add multi-family investment opportunity (70%+ rental upside potential), located in ULTRA PRIME Hyperion Village, steps from Trader Joe's and Gelsons in the highly desirable Silver Lake/Los Feliz submarkets of Los Angeles, steps south of Rowena Ave and west of Hyperion Ave. Built in 1966, the building is comprised of a great unit mix of 1 (2+2), 4 (2+1), and 4 (1+1) units that average approximately 780 gross square feet. The 7,016 square foot structure is situated on an 8,448 square foot, LARD1.5-zoned lot. There are 9 covered parking spaces (1/unit). Most of the units have original kitchens and bathrooms featuring mid-century ceramic tile countertops, shower/bathtub backsplashes, and original cabinets. Most units have updated laminate or prefinished hardwood floors. Units also feature small balconies, ample cupboard, drawer, and closet space, and a private lockable large bulk storage unit in the carport area. This ULTRA-PRIME Hip Hyperion Village location has an excellent 91 Walk Score, as the neighborhood is home to a variety of shops, restaurants, and nightlife destinations/entertainment options, with Gelson's Markets, Trader Joe's, Pinkberry, and Tenants of the Trees all within short walking distance and Griffith Park Less than a mile away. The Monon building is in the coveted Ivanhoe Elementary School district, the school being 0.4 miles from the building. The Americana at Brand, Glendale Galleria, Best Buy, and Costco are all less than a 10-minute drive away. The property's location is ideal for those looking to live on a quiet street while still having easy access to freeways and enjoying the convenience of being minutes away from, Silver Lake, Echo Park, Los Feliz, Hollywood, West Hollywood, Glendale, Burbank, and Downtown Los Angeles just 4.1 miles to the southeast. The building is 0.5 miles west of the 5 freeway, 1.4 miles west of the CA-2 freeway, 2.4 miles north of 101 freeway, 3.8 miles west of the 110 freeway, and 5.6 miles north of the 10. 3623-3625 Monon St is well-positioned for a value-added investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
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FeaturesGeneralInterior Features Ceiling Fan(s)
Heating Wall Furnace
Zoning LARD1.5
Year Built 1966
Levels Two
County Los Angeles
Net Operating Income 123033.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Pending
City Los Angeles
Buyer Agent Compensation 2.00
Senior Community Y/N No
MLS Area C22 - Los Feliz
Lot Size Units Square Feet
Lot Size Square Feet 8448.0
Street Name Monon
Structure Type None
Standard Status Pending
Year Built Source Assessor
Buyer Agent Compensation Type %
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ExteriorParking Features Covered Detached Carport Attached Carport
Lot Size Area 8448.0
Spa No
Pool Y/N? No
Building Area Total 7016.0
Lot Size Acres 0.19
Land Lease Type Fee
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InteriorTotal Stories 2
Heating Y/N Yes
Street Suffix Street
Laundry Features Community
Total Baths 0
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* Excluded FeaturesList ByMatthew R. KannerListing Agent
Keller Williams Realty Los FelizBroker
Affordability Calculator
- Monthly Principal & Interest
- $21,368
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,991,518
Percent of Sale Price 38%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/16/2024 | $3,215,000 | -5.86% | Price Down |
1/9/2024 | $3,415,000 | | Listed Price |