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455 N Genesee Avenue

Los Angeles (City), CA 90036
  • $4,500,000
  • STATUS: Active
  • ON SITE: 7 Days
  • ID#: 21106194
UPDATED: 11 min ago
$4,500,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1932
County:

School Ratings & Info

Listing provided courtesy of Saadia 'Sam' Liberow of Marcus & Millichap

Description

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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-26T19:26:32.427. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123374546
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455 N Genesee Avenue Los Angeles (City), CA 90036

  • Price: $4,500,000
  • Status: Active
  • On Site: 7 Days
  • Updated: 11 min ago
  • ID#: 21106194
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1932
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - Beverly Center-Miracle Mile
Property Description
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.
Exterior Features

Parking Features None Parking Total 0

Interior Features

Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Gross Income 289925 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 161785 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-26T19:26:32.427. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing provided courtesy of Saadia 'Sam' Liberow of Marcus & Millichap