$1,595,000
- Beds
- 3
- sq ft
- 2,536
11408 Ohio Ave, Los Angeles, CA 90025
11408 Ohio Ave
Los Angeles, CA 90025
- 42 days on market
We are pleased to present a 5-unit (4 units + Single Family Home) property located in West LA for only $1,595,000 with 3 of 5 units NOT subject to rent control and 2 units delivered VACANT! This opportunity is located one block north of Santa Monica Blvd, just west of the 405, and in very close proximity to Sawtelle Blvd, one of the trendiest corridors in Los Angeles with numerous iconic Sawtelle Japantown restaurants including Mizu 212, Sushi Tsujita, Wine Kitchen House, Hermanito, Donting Noodle, and Tempura House. The building currently operates at a 5.57% CAP on current rents (assuming market rents for the vacant units), with rental upside potential to a 6.25% CAP on pro-forma rents. The property consists of two separate structures, with a two-story four unit in the front and a single-story house in the rear, built in 1940, along with 7 onsite gated parking spaces. The unit mix consists of 4 studios (2 extra-large) and 1 two-bedroom two bath unit (situated in the rear freestanding house). 3 out of 5 units are NON-RENT CONTROL, as they are subject to a luxury exemption, which includes the two-bedroom two bath unit. This offering is well positioned for a local operator looking to increase their holdings and continue driving returns within a highly coveted and proven submarket.
Details
Property type
Lot size
6,985 sq ft
Price per sq ft
$629
Year built
1940
HOA
No
Price History
08/08/2024
CLAW #24425443
Listed
$1,595,000
Schools & Community
Neighborhood:
Sawtelle
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/20/2024 at 3:40 AM
Listing updated: 08/16/2024 at 5:13 AM
Listed by: Casey Lins, Kidder Mathews of California, Inc. Phone #: (858) 369-3010
MLS: CLAW #24425443
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