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455 N Genesee Ave, Los Angeles, CA 90036
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455 N Genesee Ave Los Angeles, CA 90036

$4,285,000
  • 8 Beds
  • 16 Baths
  • 8,832 Sq.Ft.
For Sale
$4,285,000 Get Pre-Qualified
Map preview of 455 N Genesee Ave, Los Angeles, CA 90036

Property Overview: 455 N Genesee Ave Los Angeles, CA has 8 bedrooms, 16 bathrooms, 8,832 living square feet and 6,376 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Maywood Property Group is thrilled to introduce the 455 N Genesee Ave Apartments, a prime investment opportunity in the heart of Los Angeles' desirable Beverly-Fairfax neighborhood. This property is ideally situated walking distance from The Grove shopping center and 0.3 miles from the Hackman Capital/ CBS Television City redevelopment project, which is set to create approximately ~18,000 new jobs, boosting local demand. The building features 16 units in total, including 8 studio apartments and 8 one-bedroom / one-bathroom units. With a 4.93% cap rate on current rents and the potential to achieve an 8% cap rate at market rents and the implementation of a RUBS program, this property offers a 28% rental upside. Additionally, the property includes a large basement laundry room with seller-owned machines and secure callbox entry for added convenience and security. **SUBMIT ALL OFFERS**

Listed by Nicholas Hayner | BRE #02090908 | Maywood Property Group
Last checked: 11 minutes ago | Last updated: August 6th, 2024 | Source CRMLS | DOM: 48
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Home details

Lot Sq. Ft
6,376
HOA Dues
$0/mo
Year built
1932
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24421805
City
Los Angeles
County
Los Angeles
Time on Site
49 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,301
  • Total Rent: $10,415
  • Pro Forma/Market Rent: $13,380
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,091
  • Total Rent: $16,733
  • Pro Forma/Market Rent: $2,933
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.93%
  • Gross Rent Multiplier: 12.95
  • Gross Scheduled Income: --
  • Net Operating Income: $211,189
  • Gross Operating Income: $324,200
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 455 N Genesee Ave

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Property Details for 455 N Genesee Ave

Interior Features
Heating Information
  • Has Heating
  • Natural Gas
Kitchen Information
  • Has Appliances
  • Disposal, Refrigerator
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Street
Property Information
  • Total # of Units: 16
  • Parcel Number: 5527028003
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Walking distance from The Grove shopping center, Fairfax High School, Melrose Shopping District and Hackman Capital's Television City redevelopment.
View more facts & features

Local Los Angeles Agent

Sale History for 455 N Genesee Ave

Last sold on January 27th, 2016

  • July, 2024

  • Jul 29, 2024

    Date

    Active

    CRMLS: 24421805

    $4,285,000

    Price

  • February, 2022

  • Feb 16, 2022

    Date

    Expired

    CRMLS: 21106194

    $4,500,000

    Price

  • Nov 17, 2021

    Date

    Active

    CRMLS: 21106194

    $4,500,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present 455 N. Genesee Avenue, a two-story apartment building located in the desirable neighborhood of Miracle Mile, two blocks south of Melrose Avenue. Situated on a 6,373 SF lot, the property offers 8,832 rentable SF. Although originally built as a 12-unit apartment building, the previous owners decided to convert the two-bedroom units into 4 one-bedroom units and 4 bachelors, therefore dividing the property into a total of 16 units. As a result, the current unit mix now consists of four (4) bachelors, four (4) singles, and eight (8) one-bedroom/one-bathroom units. Two of the one-bedroom/one-bathroom units have been extensively upgraded, including new plumbing, electric, kitchen, bathroom, paint and refinishing of hardwood floors. Furthermore, the roof was replaced approximately ten years ago. The property is within close-proximity to The Grove and Pan Pacific Park, giving residents convenient access to an array of popular shopping and dining venues.455 N. Genesee Avenue has been held by current ownership for over 32 years, offering investors the perfect opportunity to purchase an investment property with huge upside potential, which could be achieved through interior and exterior renovations.

  • August, 2021

  • Aug 7, 2021

    Date

    Active

    CRMLS: FR21173899

    $4,600,000

    Price

  • Listing provided courtesy of CRMLS

    16-Unit (12-Permitted), value-add apartment building, located by Fairfax and Beverly in the Beverly Grove submarket. The property consists of 4 bachelor units, 4 studios, and 8-one bedroom units that are approximately 23% below post-renovation market rents. The property was originally constructed in 1932 and has been owned by the same ownership for over 30-years. The property is master metered which allows for additional rent increases.

  • March, 2021

  • Mar 1, 2021

    Date

    Expired

    CRMLS: 20585430

    $4,500,000

    Price

  • Jan 29, 2021

    Date

    Withdrawn

    CRMLS: 20585430

    $4,500,000

    Price

  • Sep 21, 2020

    Date

    Price Change

    CRMLS: 20585430

    $4,500,000

    Price

  • Jul 22, 2020

    Date

    Active

    CRMLS: 20585430

    $4,600,000

    Price

  • Jun 26, 2020

    Date

    Active Under Contract

    CRMLS: 20585430

    $4,600,000

    Price

  • Jun 2, 2020

    Date

    Active

    CRMLS: 20585430

    $4,600,000

    Price

  • Listing provided courtesy of CRMLS

    455 N Genesee Ave is a 12-unit apartment building, divided into 16-units, located in one of the most desirable parts of Los Angeles. The subject property is a two-story building offering 8,832 of rentable SF and is situated on a 6,373 SF lot. The property has been held by current ownership for over 32 years, providing buyers with a strong rental upside, and it is located just two blocks south of Melrose Avenue. The property was originally built as a 12-unit apartment building consisting of four (4) singles, four (4) one bedrooms, and four (4) two bedroom apartments. The previous owner converted the two bedroom units into (4) one bedrooms and (4) bachelors, and therefore divided the property into 16 units. The current unit mix for Genesee consists of four (4) bachelors, four (4) singles, and eight (8) one bedroom/one bathroom units. Two of the one bedroom/one bathroom units have been extensively upgraded including new plumbing, electric, kitchen, bathroom, paint, and floors.

  • January, 2016

  • Jan 27, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 2012

  • Jan 10, 2012

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 455 N Genesee Ave

Assessed Value (2020): $1,272,219
Year Land Value Improved Value Assessed Value
2020 $926,589 $345,630 $1,272,219

Home Value Compared to the Market

This property vs the competition

455 N Genesee Ave is listed 257.08% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $485.17 per/sqft which puts the price per square foot 36.83% lower than the median price per square foot for the city of Los Angeles.

About 455 N Genesee Ave

Detailed summary of property

455 N Genesee Ave is a multi family located in Los Angeles, CA 90036 and is currently for sale. This multi family property offers 8 bedrooms, 16 bathrooms, roughly 8,832 living square feet, and sits on an approximately 6,376 square foot lot. 455 N Genesee Ave was first listed on ArdentRealEstateGroup.com on July 31, 2024. The homeowner is currently asking $4,285,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 257.08% higher than the median priced home. Local competing homes currently for sale include 7056 Lanewood Ave, 1223 N June St and 9025 W 3rd St. While the average home in Los Angeles, CA is selling in 106 days, 455 N Genesee Ave has a days on market of 48 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 455 N Genesee Ave Los Angeles, CA 90036 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 455 N Genesee Ave

Public county record property details
Beds
8
Baths
16
Year built
1932
Sq. Ft.
8,832
Lot Size
6,373
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
454
APN
5527-028-003

The source for these homes facts are from public records.

90036 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,199,000
Median List Price/Sq.Ft.
$937
Median Sold Price
$1,675,000
Median Sold Price/Sq.Ft.
$754
Total Inventory
31
Median Sale to List Price %
95.71%
Avg Days on Market
31
Loan Type
Conventional (16.67%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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