Los Angeles, CA 90018 1929 Arlington Ave
$3,794,000
Presented By: Hirsch Sherman with Keller Williams Realty Calabasas
Home Details
PARTNERSHIP WANTS IT SOLD!!! (Listed Price Close to What Partnership Paid When They Purchased the Building) We are pleased to present the opportunity to acquire Arlington Apartments in the submarket of Arlington Heights (LA Market) and in close proximity to Mid-City and Koreatown. This offering includes an 18-unit multifamily building built in 1964 with a foot print of approximately 14,042 SF, sitting on a 12,899 SF lot zoned LAR3. Arlington Apartments offers an investor a significant value add opportunity with approximately 75% (+/-) potential upside in rents spread across a desirable unit mix of over 50% 2 bedroom units. Soft story retrofit has been completed and the seller owns the laundry machines. This well-located multifamily property offers an investor a rare opportunity to secure a larger sized asset in a high demand and growth submarket with real reposition opportunity and impressive frontage. Arlington Heights is diverse and populated neighborhood in Central Los Angeles with Koreatown to the north, Mid-City and Mid-Wilshire to the west, Jefferson Park to the south and Harvard Heights to the east. Located centrally in Los Angeles, Arlington Heights is a transit friendly melting pot of cultural influences. Situated just north of the 10 FWY, this neighborhood provides easy access to Culver City to the west and downtown LA to the east. Along La Brea Avenue, Wilshire Blvd, and Western Ave you will find restaurants and popular bars. The stretch of Washington Blvd, anchored by the Underground Museum between 3rd and 6th avenues, is becoming a desirable location for art galleries and boutiques. Nestled right at the convergence of main thoroughfares and freeways, Arlington Heights allows for easy access to the wider region of LA and key employment centers.
Presented By: Hirsch Sherman with Keller Williams Realty Calabasas
Interior Features for 1929 Arlington Ave
Bedrooms
Total Bedrooms27
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths24
Other Interior Features
Air Conditioning Y/NYes
Heating Y/NNo
Total Stories2
General for 1929 Arlington Ave
Cap Rate4.1
Carport Y/NYes
CityLos Angeles
CoolingCentral Air
CountyLos Angeles
Days on Market18
DirectionsArlington Heights Area. West of S Western Avenue, East of Crenshaw Boulevard, South of W Washington Boulevard and North of W Adams Boulevard.
Gross Income284580
HOA / Comm AssnNo
HeatingNone
LevelsTwo
Lot Size Square Feet12899
Lot Size UnitsSquare Feet
MLS AreaC16 - Mid Los Angeles
Net Operating Income155865
New ConstructionNo
NumberOfUnitsTotal18
Property TypeResidential Income
Senior Community Y/NNo
Standard StatusActive
StatusActive
Stories2
Year Built1964
ZoningLAR3
Exterior for 1929 Arlington Ave
Building Area Total14042
Lot Size Acres0.2961
Lot Size Area12899
Lot Size SourceAssessor
Number of Buildings1
Parking FeaturesCarport
Total Parking18
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480