1629 S Van Ness Avenue, Los Angeles, CA 90019

$1,895,000

bedrooms

bathrooms

square feet

6,403

Acreage

0.18514692378328743

Open Houses

year built

1960

Full Baths

Half Baths

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Huge 6 unit property on a large lot in the heart of Mid-City LA, close to everything that LA has to offer, yet on a quiet residential street. The building has an excellent mix consisting of four 2 bedroom units, one 1 bedroom unit, and an enormous 4 bed, 2.5 bath two story owner's unit with a private patio. There are over 6400 square feet of rentable space on an 8000 square foot lot with parking for 6 cars in the rear plus a single car garage and one space in the front. The property is well priced on actual rents at 12.1X GRM plus a healthy 27% upside to income for a market GRM of 9.6X and a 6.4% cap rate. The building was built in 1960 with recent improvements including exterior paint, a commercial water heater, with new floors and windows in the owner's unit. There are also additional upgrades to finishes, appliances, and windows in select units. The LA required soft story retrofit has been completed, and there is a laundry room on the premises for additional income. The units are all separately metered for gas and electric and there is an opportunity to decrease expenses through implementation of RUBS program for water, sewer, and trash. Tenants enjoy close proximity to a huge variety of entertainment and restaurants in some of the city's hottest neighborhoods including Koreatown, Larchmont Village, Miracle Mile, and Downtown LA. Over 80% of households within 5 miles are renters with an average household income of over $87,000 per CoStar. The location offers great access to the city via the 10 freeway just a few blocks away, and two close metro rail stations.

Location
Subdivision	-
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Exact location data not provided

Driving directions

Open houses

None scheduled.

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MLS number: SB25043892

Listing agent: Anthony Walker #01908153

Listing broker: Buckingham Investments, Inc. (562) 208-4890

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Last update: Thursday, April 24 2025 at 9:18 p.m. EDT

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