455 N Genesee Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90036
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,832 sqft
Price per Sqft $485
MLS Listing ID 24-421805
Bedrooms 8
Year Built 1932
Lot Size 6,376 Sqft
Property Description
Maywood Property Group is thrilled to introduce the 455 N Genesee Ave Apartments, a prime investment opportunity in the heart of Los Angeles' desirable Beverly-Fairfax neighborhood. This property is ideally situated walking distance from The Grove shopping center and 0.3 miles from the Hackman Capital/ CBS Television City redevelopment project, which is set to create approximately ~18,000 new jobs, boosting local demand. The building features 16 units in total, including 8 studio apartments and 8 one-bedroom / one-bathroom units. With a 4.93% cap rate on current rents and the potential to achieve an 8% cap rate at market rents and the implementation of a RUBS program, this property offers a 28% rental upside. Additionally, the property includes a large basement laundry room with seller-owned machines and secure callbox entry for added convenience and security. **SUBMIT ALL OFFERS**
Location
State CA
County Los Angeles
Area Beverly Center-Miracle Mile
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Natural Gas
Cooling Wall Unit(s)
Equipment Refrigerator, Garbage Disposal, Range/Oven
Exterior
Garage On street
Building
Story 2
Others
Special Listing Condition Standard