Under Contract
1913 W 3rd St
LOS ANGELES CA, 90057
$6,300,000
$290.43 per sqft
Under Contract
1 Bed
2 Baths
21,692 sqft
Condo
Built in 1923
We are proud to present The Victorian on 3rd, an amazing multifamily opportunity located at 1901 & 1913 West 3rd Street in The City of Los Angeles, California. This unique apartment complex is comprised of *41 highly improved apartment units in two separate and distinct two-story buildings, and the addition of (1) One-Bedroom + One-Bath detached home. The buildings are constructed of wood frame with a flat/pitched roof and stucco exterior as well as wood siding. Development for each of the buildings was completed in 1942 & 1923 respectively and encompassing a total of **21,692 building square feet situated on two separate parcels totaling 20,283 square feet offering a zoning of LAC2 which could be beneficial for future development. *(34) Singles + One Bath Units *(6) One-Bedroom + One-Bath Units *(1) One-Bedroom + One-Bath Detached Unit * Total unit count differs from title and was provided by Seller and is believed to be the correct legal unit count. Buyer to verify. ** Total building square footage differs from title and was provided by Seller and said to be a correct accounting of all improvement square footage including basement. Buyer to verify. *** Currently there are 21 parking spaces with the potential to add an additional 3 spaces. Buyer to verify. PROPERTY HIGHLIGHTS + Attractive value metrics of 6.04% Cap Rate | 9.75 GRM | $153,659 CPU + Excellent leverage quoted with attractive interest only financing + Solid day-1 cash flow and additional rental upside potential + Ratio Utility Billing System (RUBS) in place for many units + Major electrical and unit upgrades + Individually metered for gas and electric + Upgraded fire suppression system including hard-wired smoke detectors + 50% plus of the units tastefully remodeled + Complete unit appliance package of gas range, fridge, dishwasher & microwave + Two adjacent buildings & lots on a signalized corner + Separate APNs for each property & zoned LAC2 totaling +/-20,283 sq. ft. of land + Great candidate to capitalize on newly approved Section 8 housing voucher increases + Controlled intercom access and CCTV monitoring + On-site gated parking for 24 cars & 2 separate laundry rooms + Beautifully maintained and clean property
SR24000632MR
MLSⓇ ID
January 3, 2024
Listed
May 9, 2024
Updated
Map
1913 W 3rd St
LOS ANGELES CA, 90057
Interior Features
Total Stories
2
Bedrooms
1
Total Bathrooms
2
Laundry Description
Laundry Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.47 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Los Angeles Southwest
Days on Market
113
Garage
No
Parking
Gated
Parking Total
24
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LAC2
Listing History
Date | Event | Price |
---|---|---|
4/25/2024 | Under Contract | — |
Listed by Raymond Rodriguez with Keller Williams Realty Calabasas
Listing Contact: 866-582-7865
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor The Listing Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/9/2024