Los Angeles, CA 90019 4639 Lomita Street
$2,350,000
0 more
Presented By: Sean Rosenzweig with Marcus & Millichap;
Home Details
We are pleased to offer for sale a 12-unit apartment community located at 4639 Lomita Street. The subject property is located just south of Venice Boulevard and east of La Brea Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase. The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area. Situated on a 9,734 square foot parcel, the property is comprised of 10 one-bedroom units and two, two-bedroom units. The property has 37% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities. 4639 Lomita Street offers investors an opportunity to acquire a mid-sized asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate units in order to achieve superior market rents moving forward, makes 4639 Lomita Street an excellent acquisition opportunity.
Presented By: Sean Rosenzweig with Marcus & Millichap;
Interior Features for 4639 Lomita Street
Bedrooms
Total Bedrooms14
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths12
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories2
General for 4639 Lomita Street
Additional Parcels Y/NNo
Attached Garage No
Cap Rate5.38
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market136
DirectionsSouth of Venice Boulevard & West of Vineyard Avenue
Full Baths
Garage Y/NNo
Gross Income215230.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo, MultiSplit
Lot Size Square Feet9371.0
Lot Size UnitsSquareFeet
MLS AreaC16 - Mid Los Angeles
MobileHomeRemainsYNNo
Net Operating Income126535.0
New ConstructionNo
NumberOfUnitsTotal12
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
View Y/NNo
Waterfront Y/NNo
Year Built1958
Year Built SourceAssessor
ZoningLARD1.5
Exterior for 4639 Lomita Street
Building Area Total7598.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2151
Lot Size Area9371.0
Lot Size SourceAssessor
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesNone
SpaNo
Total Parking12.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480