1040 S Longwood Ave - Apartments FOR SALE


Los Angeles, CA 90019- Miracle Mile
$2,795,000 USD
213-866-9801
1040 S Longwood Ave, Los Angeles, CA for Sale
$2,795,000 USD
Apartments - FOR SALE
1/26
null | 5.2% Cap Rate

1040 S Longwood Ave
Los Angeles, CA 90019
Miracle Mile


HIGHLIGHTS

  • 4 units on a quiet tree lined street
  • TWO UNITS WILL DELIVERED VACANT
  • Huge units with lots of upside in the rents
  • Low cost per unit - $350/SF
  • Hardwood floors & fireplaces
  • Located on a large corner lot - 8,916/SF

OVERVIEW

Beautiful 4 units located on a tree lined street in Longwood Heights. Great opportunity for an owner/user. The property consists of 2 duplexes that sit on an oversized 8,922 square foot corner lot. TWO UNITS WILL BE DELIVERED VACANT. Huge units with excellent upside in the rents. Low cost per square foot - $350/SF. The upstairs unit on Longwood is 3 bedroom + 3 bath and the downstairs unit is 3 bedroom + 2 bath. These units have large living rooms with fireplaces. There is a sunroom off the living room that can be used as an office. There is a large dining room that opens to the living room and a small breakfast nook. The downstairs unit has hardwood floors and carpet. The square footage for the Longwood building is 4,694 sq.ft. The building on Edgewood Place consists of two 2 bedroom + 2 bath units. The units have large living rooms with a fireplace, formal dining room and a small breakfast nook. The square footage for the Edgewood is 3,268 sq.ft. There is a beautiful courtyard that sits between the buildings that all 4 units have access to from the back doors. The property is located a short distance from Miracle Mile, Hancock Park, Larchmont Village, shops and restaurants.

FOR SALE DETAILS

PRICE

$2,795,000 USD

PRICE/SF

$351 USD /SF

# OF UNITS

4

PRICE/UNIT

$698,750

CAP RATE

5.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,916 SF

ZONING

R1-1-O

APN/PARCEL ID

5083-005-017

ASK ABOUT THIS PROPERTY

Michael SalernoLee & AssociatesMore Info
213-866-9801

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Michael SalernoLee & AssociatesMore Info
213-866-9801

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.