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1229 S Dunsmuir Avenue

Los Angeles (City), CA 90019
  • $1,699,000
  • STATUS: Active
  • ON SITE: 24 Days
  • ID#: SR22157900
UPDATED: 18 min ago
$1,699,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Listing Agent(s): Anie Mayelian of Equity Union (818-989-2000)


Description

Beautiful Spanish character cottages. Walk to Fairfax and San Vicente! 3 Units delivered Vacant at close of escrow! Massive upside potential. Tenants paytheir own water, electricity, gas and trash as all utilities are on separate meters for gas, electric, and water. Convert the 3 car garages to an ADU plus addan additional unit on top. With the ADU additions the potential increased revenue will be $141,120 and the cap will be potentially 6.6%. The current ownership has remodeled two of the cottages. The front home features high barrel ceilings, remodeled kitchen, in unit washer and dryer, tankless water heater, new tile flooring, new counter tops, fresh paint and beautifully preserved hardwood flooring. R3 zoned, potential to build 15 units using TOC density bonus. A new 17 unit building is being built next door and it's 4 months from completion. Miracle Mile is a great rental market, attracting a huge supply of A+ tenants looking for quality units in a premium location. Convenient access to transit, employment, retail and entertainment venues. Minutes to downtown LA, Beverly Hills, Santa Monica and Culver City.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T12:28:30.493. 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 deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131097662
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1229 S Dunsmuir Avenue Los Angeles (City), CA 90019

  • Price: $1,699,000
  • Status: Active
  • On Site: 24 Days
  • Updated: 18 min ago
  • ID#: SR22157900
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1930
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - Beverly Center-Miracle Mile
Property Description
Beautiful Spanish character cottages. Walk to Fairfax and San Vicente! 3 Units delivered Vacant at close of escrow! Massive upside potential. Tenants paytheir own water, electricity, gas and trash as all utilities are on separate meters for gas, electric, and water. Convert the 3 car garages to an ADU plus addan additional unit on top. With the ADU additions the potential increased revenue will be $141,120 and the cap will be potentially 6.6%. The current ownership has remodeled two of the cottages. The front home features high barrel ceilings, remodeled kitchen, in unit washer and dryer, tankless water heater, new tile flooring, new counter tops, fresh paint and beautifully preserved hardwood flooring. R3 zoned, potential to build 15 units using TOC density bonus. A new 17 unit building is being built next door and it's 4 months from completion. Miracle Mile is a great rental market, attracting a huge supply of A+ tenants looking for quality units in a premium location. Convenient access to transit, employment, retail and entertainment venues. Minutes to downtown LA, Beverly Hills, Santa Monica and Culver City.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 5 Parking Total 3 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsStorm Drain(S)Street LightsSidewalks Electric Expense 0 Garage YN Yes Gross Income 98305 Gross Scheduled Income 98305 Insurance Expense 3893 Land Lease YN No Laundry Features Washer HookupElectric Dryer Hookup Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New Loan Net Operating Income 69624 New Construction YN No New Taxes Expense 21237 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Operating Expense 25731 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T12:28:30.493. 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 deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): Anie Mayelian of Equity Union (818-989-2000)