726 N VAN NESS AVE Los Angeles, CA, 90038
$ 4,700,000Bedrooms 3 Baths0.0 Sq 9,508
for $4,700,000 with 3 bedrooms. This 9,508 square foot home was built in 1928.
The Van Ness apartments is a 20-unit apartment building constructed in the 1920's. The two-story structure is situated steps from Melrose Avenue and across the street from Paramount Studios. The owner is currently operating some of the units as furnished short-term rentals and approximately ten units can be delivered vacant at the close of escrow. Most of the units feature original wood flooring, arched doorways, build in cabinetry, ceiling fans, exposed brick walls and remodeled kitchens and bathrooms. The building is individually metered for electricity and features a patio area in the rear of the property. The property is considered a substantial value-added opportunity as it is ready for a light cosmetic upgrade of the common areas which will assist in achieving high lease rates for vacancies. In addition, the other units have lease rates lower then market which will provide excellent upside to a new owner.
Cooling System Ceiling Fan(s)
Heating System Wall Unit
List By Brent Sprenkle
- Monthly Principal & Interest
- Monthly Property Taxes
- Monthly Home Insurance
Default based on a 30-year fixed rate of 4.38% 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.
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Multi-family listings in Los Angeles, CA
Average List Price $2,114,109
Percent of Sale Price 55 %
About Los Angeles, CA
6 %Since 2002
$ 52,600 Median Income
35.79 Median Age
29 % Households with Children