1900 Dracena Dr - Apartments FOR SALE


Los Angeles, CA 90027- Los Feliz
$3,225,000 USD
310-801-3442
1900 Dracena Dr, Los Angeles, CA for Sale
$3,225,000 USD
Apartments - FOR SALE
1/10
null | 5.6% Cap Rate

1900 Dracena Dr
Los Angeles, CA 90027
Los Feliz


HIGHLIGHTS

  • Premier Los Feliz corner location
  • Great Unit Mix - Large Units
  • Attractive, well-maintained asset

OVERVIEW

We are pleased to present 1900 Dracena Drive, an eight-unit apartment community ideally located in the heart of Los Feliz, one of Los Angeles' most sought-after rental neighborhoods. Situated on the prominent corner of Dracena Drive and Franklin Avenue, the property offers exceptional curb appeal with classic mid-century architecture, mature landscaping, and an attractive street presence. Built in 1965, the property features an excellent unit mix of six (6) two-bedroom, two-bath apartments and two (2) one-bedroom, one-bath apartments, appealing to a broad tenant base seeking larger floor plans in a premier location. Several units have been nicely updated and feature private balconies, abundant natural light, and spacious layouts. Currently there is one vacant two-bedroom, two-bath apartment unit. Recent improvements include a new electrical panel service panel and plumbing upgrades, providing investors with updated infrastructure improvements while offering additional value-add potential through continued interior renovations The property includes eight gated parking spaces, an on-site laundry facility, and additional storage which enhances tenant convenience Ideally positioned just moments from the vibrant Hillhurst Avenue and Vermont Avenue shopping and dining districts, residents enjoy immediate access to Los Feliz's renowned restaurants, cafés, boutiques, and entertainment. Griffith Park, the Greek Theatre, Griffith Observatory, Hollywood, Silver Lake, and major employment centers are all within minutes, making this an exceptionally desirable rental location with consistently strong demand. 1900 Dracena Drive represents an outstanding opportunity to acquire an apartment asset in one of Los Angeles' most established and supply-constrained neighborhoods, offering stable in-place income with continued upside

FOR SALE DETAILS

PRICE

$3,225,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

8

PRICE/UNIT

$403,125

CAP RATE

5.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,589 SF

ZONING

R2-1XL

APN/PARCEL ID

5590-013-001

ASK ABOUT THIS PROPERTY

Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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