1040 S Longwood Ave - Apartments FOR SALE


Los Angeles, CA 90019- Miracle Mile
$2,425,000 USD
714-371-3692
1040 S Longwood Ave, Los Angeles, CA for Sale
$2,425,000 USD
Apartments - FOR SALE
1/43
null | 6.92% Cap Rate

1040 S Longwood Ave
Los Angeles, CA 90019
Miracle Mile


HIGHLIGHTS

  • Two units delivered vacant
  • Two separate duplexes. Prime Mid-City / Longwood Highlands location. Adjacent Hancock Park and Mid-Wilshire area
  • Spacious floor plans. High ceilings, elegant archways, and abundant natural light.

OVERVIEW

Situated on a tree-lined street in the coveted Mid-City and Longwood Highlands area, 1040 S. Longwood Ave. is an exceptional income property consisting of two separate duplexes on an oversized 8,922 square foot corner lot. With high ceilings, elegant archways, and abundant natural light throughout, the property reflects the timeless charm, an ideal opportunity for an owner/user, with two units delivered vacant. The Longwood building offers a 3-bedroom, 3-bath unit upstairs and a 3-bedroom, 2-bath unit downstairs. Both feature spacious, high-ceiling living rooms with decorative fireplaces and large windows overlooking the quiet street, plus a sunroom off the living room that makes an excellent home office or yoga room. A gracious formal dining room opens to the living room, and a charming breakfast nook includes built-ins. The second building on Edgewood holds two updated 2-bedroom, 2-bath units, each with a large high-ceiling living room with decorative fireplaces and floor-to-ceiling window, a sunroom home office or yoga room, a formal dining room with large windows, and a breakfast nook overlooking the courtyard. Between the buildings, a lush gated courtyard offers a tranquil sitting area perfect for entertaining, accessible to all four units. Two attached garages complete the property. Miracle Mile and Hancock Park adjacent. Just minutes from Larchmont Village, Koreatown, Downtown LA, and the Westside. Nearby attractions include LACMA, the Academy Museum, the Petersen Automotive Museum, The Grove, the Larchmont Farmers Market, and the Wilshire/La Brea Metro D Line station. Pro Forma Cap Rate, income details are scheduled

FOR SALE DETAILS

PRICE

$2,425,000 USD

PRICE/SF

$305 USD /SF

# OF UNITS

4

PRICE/UNIT

$606,250

CAP RATE

6.92%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

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

Andrew VargasColdwell BankerMore Info
714-371-3692

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Andrew VargasColdwell BankerMore Info
714-371-3692

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