650 S La Jolla Avenue is a 10-unit multi-family apartment complex featuring 1, 100sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has RTI permits for two 1bd/1bth ADUs through a carport conversion. Upon completion of the ADUs, the property will have a 13x GRM and an in-place 5.4% cap rate, with a 30% upside in existing unit rents. The building features a new 400amp main panel. Each unit is separately metered for electricity and gas.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 10
- Full Bathrooms: 10
Appliances
- Built-In Gas
- Laundry Facilities: In Unit
- Laundry Features: In Unit
Heating and Cooling
- Cooling Features: Window Unit(s)
- Heating Features: Central
Interior Features
Garage and Parking
- Carport Spaces: 10
- Garage Description: Carport
- Parking Total: 10
Land Info
- Lot Description: 2-4 Lots
- Lot Size Acres: 0.2870523
- Lot Size Source: Vendor Enhanced
- Lot Size Square Feet: 12504
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
Multi-Unit Info
- Number of Buildings: 1
- Number of Units: 10
- Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 33450, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 5500
Rental Info
- Tenant Pays: Gas, Electric
Other Property Info
- Balcony
- Double Door Entry
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 4.3
- Directions: Wilshire and La Jolla Ave.
- Source Property Type: Residential Income
- Area: Beverly Center-Miracle Mile
- Source Neighborhood: Beverly Center-Miracle Mile
- Owner Pays: Water, Gardener
- Parcel Number: 5510-028-013
- Postal Code Plus 4: 4819
- Zoning: LAR3
- Source System Name: C2C
Commercial Info
- Net Operating Income: 191155
Building and Construction
- Total Square Feet Living: 10858
- Year Built: 1928
- Levels: Multi Levels
- Living Area Source: Vendor Enhanced
- Property Age: 96
- Year Built Source: Vendor Enhanced
Utilities
Home Features
- Other Equipment: Dryer, Gas Or Electric Dryer Hookup, Stackable W/D Hookup, Refrigerator, Range/Oven, Freezer, Washer
- Security Features: Automatic Gate, Gated, Smoke Detector
