CA > Los Angeles
Los Angeles, CA 90006,1419 Malvern Ave
Los Angeles, CA 90006,1419 Malvern Ave
Los Angeles, CA 90006,1419 Malvern Ave
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Wed
4
Dec
Thu
5
Dec
Fri
6
Dec
Terrance Scotton, Broker Associate

Terrance Scotton, Broker Associate

+1(626) 788-9299
$1,150,000
Est. payment /mo
10 Beds
8 Baths
5,960 SqFt
Save

UPDATED:

11/08/2024 05:10 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,960 sqft

Price per Sqft $192

MLS Listing ID 24-461224

Bedrooms 10

Year Built 1960

Lot Size 6,508 Sqft

Acres 0.1494

Property Description

Daniel Hirth and Alex Reyhan of The Hirth Group have been exclusively selected by the ownership to handle the sale of 1419 Malvern Avenue. An exceptional eight-unit multifamily building situated between Venice Boulevard and Alvarado Terrace, just north of S. Hoover Street, in the Pico Union submarket near Downtown Los Angeles. This area is a highly sought-after and rapidly gentrifying neighborhood. Built in 1960, the property features a mix of four 2-bedroom, 1-bath units, two 1-bedroom, 1-bath units, and two studio apartments. The current rents are well below market value, providing investors with the opportunity to increase income by over 100% and the potential to add additional ADUs (Buyer to Verify). The building spans 5,960 square feet on a 6,506 square foot lot, offering a 4.32%current CAP rate with a projected pro forma CAP rate of 9.73%, priced at just $162,500 per unit. This property at 1419 Malvern Avenue offers a rare chance for investors to acquire a value-add asset in a high-demand rental market, with the potential to increase value through renovations and the addition of an ADU in the rear. With strategic renovations, investors can maximize rental income and tap into the significant upside. The property is ideally situated in a dense, infill location with easy access to major employment hubs such as Downtown Los Angeles, Mid-Wilshire, Miracle Mile, Hollywood, West Hollywood, Beverly Hills, and Century City. Additionally, it's within walking distance of the Westlake/MacArthur Park Purple/Red Line Metro Stations, providing convenient connections to Downtown Los Angeles. The Purple Line is currently being extended, with new stations set to serve Beverly Hills, Westwood, and Brentwood by 2026.

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LARD1.5

Building

Story 2

Others

Special Listing Condition Standard

Read Less Info
TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by KW Advisors

GET MORE INFORMATION

Terrance Scotton, Broker Associate

+1(626) 788-9299

Broker Associate | License ID: 01707848 NMLS: 908256

Broker Associate License ID: 01707848 NMLS: 908256

Name

Phone*

Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.