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$2,000,000

Beds
Unknown
sq ft
4,716

2422 Venice Blvd, Los Angeles, CA 90019

2422 Venice Blvd

Los Angeles, CA 90019

  • 146 days on market
2422 Venice Blvd is a 14 unit apartment building located in the Mid-City Submarket of Los Angeles. Located west of Western Ave, in between Gramercy and St Andrews. Built in 1913, the property consists of (13) SRO units and (1) Bachelor unit. Delivered with 9 vacant units. The property includes 4 recently renovated shared bathrooms totaling 7 toilets and 5 showers, on-site gated parking for 5 cars in the rear, on-site laundry, a recently renovated shared kitchen space, and a new roof. The subject property sits on a 6,006 sf lot zoned LAR3. The investment is offered at a very attractive cap rate and GRM with significant upside in rents. This property covers for a $1,400,000 loan at an 8.5% IO rate for 24 months. This along with the significant amenities for an SRO property make this an attractive opportunity for an investor.

Details

Property type

Est. home value

$2,300,633

Property condition

Updated/Remodeled

Lot size

6,008 sq ft

Price per sq ft

$425

Year built

1913

HOA

No

Price History

06/17/2024
CLAW

CLAW #24404755

Listed
$2,000,000
-9.09%
03/07/2024
CLAW

CLAW #23335491

Removed
$2,200,000
12/07/2023
CLAW

CLAW #23335491

Listed
$2,200,000

Schools & Community

Neighborhood: 

Arlington Heights

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Jeannie Yoon

Loan start date

July 2019

Original loan amount

$1,680,000

Est. remaining balance

Not provided

Interest rate

3.99%

Loan type

Seller take-back

Seller

Jc 2020 Corp

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/10/2024 at 1:30 PM

Listing updated: 10/05/2024 at 5:03 AM

Listed by: William James, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838

MLS: CLAW #24404755

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