5114 San Vicente Blvd Los Angeles, CA 90019

• August, 2021

• Aug 9, 2021

  Date

  Active

  CRMLS: SB21134630

  $1,720,000

  Price

• Aug 5, 2021

  Date

  Hold

  CRMLS: SB21134630

  $1,720,000

  Price

• Jun 21, 2021

  Date

  Active

  CRMLS: SB21134630

  $1,720,000

  Price

• Listing provided courtesy of CRMLS

  5114 San Vicente Blvd, Los Angles is a rare opportunity to purchase a stabilized asset in a premium submarket of Los Angeles. The building features an Outstanding Unit Mix of (2) 3 Bed/2 Bath Townhome-Style Units with large master bedrooms, portable air conditioning, and enclosed back porches and (2) 2 Bed/1 Bath Units that sit above the garages. In total, there are (6) 18’ x 9’ Garages, with each having an additional 6’ x 9’ storage area attached. The property consists of (2) separate buildings, one of which represents the (2) 3 Bed/2 Bath Units and the other one the (2) 2 Bed/ 1 Bath Units atop the (6) aforementioned garages. The Property boasts a significant amount of Pride of Ownership with (2) Units being renovated with new tile flooring, granite countertops, etc. This offering represents an Excellent Owner/User Opportunity as it is perfect for an investor looking to live in one unit and rent out the other (3) units in order to offset their Debt Service. Along these lines, the Renovated 2 Bed/1 Bath Unit will be Delivered Tenant Ready upon Close of Escrow. From a financial standpoint, any Buyer and/or Investor has the opportunity to utilize the Record Low Residential Interest Rates of Today’s Market and, with the Current In-Place Rents, is poised for Excellent Income upon Acquisition, as well as substantial upside in the long-term forecasts. Currently, the building is operating at a Cap Rate of 4.39% with a Market Cap Rate of 6.68%, both excellent figures for a 2-4 Unit Asset in this Submarket. On top of this, there is much to be said about the Property’s Location and the Submarket’s poise for significant Appreciation. The Building itself boasts an Outstanding Walk Score of 89 (“very Walkable”), making it a Prime Rental Market. Downtown LA is already responsible for 500,000 jobs and, with new projects continuing to break ground, will remain a hub of constant employment. With Population Growth and Employment being two of the largest Demand Drivers to Residential Income Properties, there is much optimism for continued rent growth within the Submarket.

  Continue Reading

• January, 1995

• Jan 10, 1995

  Date

  Sold (Public Records)

  Public Records

  $200,000

  Price

• May, 1994

• May 25, 1994

  Date

  Sold (Public Records)

  Public Records

  $146,616

  Price

Show More