$2,375,000
- Beds
- 8
- sq ft
- 10,340
819 Beacon Ave, Los Angeles, CA 90017
819 Beacon Ave
Los Angeles, CA 90017
- 31 days on market
- Price drop $50,000↓
We are pleased to present 819 Beacon Ave, a charming 15-unit multifamily property located in the vibrant Westlake neighborhood of Los Angeles. Constructed in 1906, this property comprises a balanced mix of 7 single and 8 one-bedroom units, spread across a building area of 10,340 square feet on a 7,750 square foot lot. Its proximity to the trendy area of Koreatown and the bustling downtown Los Angeles offers investors a unique blend of historical charm and access to a dynamic urban lifestyle, attracting a broad tenant base. At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. The property's utility setup also offers a cost-saving opportunity. Since it is master-metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker's Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base. The strategic location of 819 Beacon Ave not only ensures easy day-to-day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid-Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.
Details
Property type
Lot size
7,752 sq ft
Price per sq ft
$230
Year built
1906
HOA
No
Price History
06/28/2024
![CLAW](/_next/static/media/clawLogo.95a18e7e.png)
CLAW #24398233
Price change
$2,375,000
-2.06%
05/31/2024
![CLAW](/_next/static/media/clawLogo.95a18e7e.png)
CLAW #24398233
Listed
$2,425,000
Schools & Community
Neighborhood:
Pico-Union
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 07/01/2024 at 8:00 AM
Listing updated: 06/27/2024 at 8:23 PM
Listed by: Oscar Diaz, Marcus & Millichap Phone #: (310) 909-5500
MLS: CLAW #24398233
![CLAW logo](/_next/static/media/clawLogo.95a18e7e.png)
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