$1,675,000
$1,995,000
16.0%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
4 Baths
4,392 SqFt
SOLD DATE : 11/08/2024
Key Details
Sold Price $1,675,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,392 sqft
Price per Sqft $381
MLS Listing ID 24-404823
Sold Date 11/08/24
Bedrooms 8
Year Built 1926
Lot Size 6,496 Sqft
Acres 0.1491
Property Description
The Gardner Street Residences provide an incredible investment opportunity for a savvy multi-family investor or an owner-occupier who wants to live at the property and move in one of the vacant 2 BR units. This gem of a four unit property is located in a prime Miracle Mile location, north of Beverly Blvd. & West of La Brea Ave, very close to The Grove Shopping Center and Melrose Ave. The property was constructed in 1931 and is approximately 4,392 SF. The Gardner St. Residences has an excellent unit mix with all of the units being spacious 2 BR + 1 Bath units. Two of the four units will be delivered VACANT!. The other two units are receiving rents well below market creating a quintessential value-add opportunity. The property sits on a large 6,494 SF lot with four separate garages located at the rear of the property. There is the possibility of turning those garages into ADU units, adding another avenue for a new buyer to add more income and value to the building. The Gardner St. Residencies presents a compelling investment opportunity, characterized by a prime LA location, exceptional walkability, and promising upside potential through renovations and ADU's. This fourplex is an attractive option for investors or owner-occupier aiming to capitalize on the dynamic Los Angeles real estate market.
Location
State CA
County Los Angeles
Area Beverly Center-Miracle Mile
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating None
Cooling None
Equipment None
Exterior
Garage Carport Detached
Garage Spaces 4.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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Bought with Miller & Desatnik Realty Co.