Description

Perhaps the BEST VALUE ADD opportunity on the entire Westside and priced BELOW land value for a speedy sale! First time on the market since 1962, this quadruplex measuring 2,480 square feet (per assessor) on a large 6,157 square foot (44x140' per assessor) RD1.5-zoned lot in Sawtelle Japantown brims with pride-of-ownership and the residences feature desirable details like Oak hardwood floors, thoughtful floorplans with "wedding cake" crown moldings, art deco eat-in kitchens featuring metal trimmed counters and curvaceous plaster walls, individual water heaters, and ample natural light. Consisting of two (2) separate structures not subject to seismic retrofitting (per LADBS), the front building is composed of three (3) 1+1s, while the rear building affords one (1) 2+1 above two (2) double car garages with aluminum doors off the rear alley which could be transformed into income producing ADUs (buyer to verify). Building amenities include a secured entry with controlled access, community courtyard, shared laundry room with coin operated machines generating approximately $150/month, and separate electric and gas meters. Priced at only $554.44/square foot and at $343,750/unit with approximately 75% upside in rents, this unique offering is a wonderful 1031 exchange option for investors or for developers who want a primo North of Olympic locale where market rents for new 1 bedroom units average $3500/month and brand new townhomes sell north of $1.8m. Beautifully positioned between Stoner Park, the Expo rail station at Bundy & Olympic, Sawtelle Japantown's trendy shopping and dining district, Santa Monica, Brentwood, and Westwood. Subject to LAHD rent control, all units will be delivered with tenants in place (no vacancies) and please do not disturb occupants or walk property. Sold "as-is" without credits or repairs. Add this true legacy property superbly situated in one of West LA's ultra prime submarkets to your portfolio before it's gone for good!