652 N Hayworth Avenue

    Los Angeles (City), CA 90048
    • $3,725,000
    • STATUS: Active
    • ON SITE: 87 days
    • ID#: 20561846
    UPDATED: 33 min ago
    $3,725,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    652 N Hayworth Avenue is in the epicenter of the Melrose Shopping District, one of the most popular and prestigious retail destinations in Los Angeles. The property is comprised of nine units and is architecturally qualified for an additional two ADU units. The property will be delivered with five units vacant, two of which are either completely or substantially renovated. The four occupied units have rents that are approximately 170% below market, providing an opportunity for a long- term owner to immediately reposition the building and capture a tremendous amount of future upside as the remaining units turn. Additionally, a feasibility study has been performed, and the findings indicate that up to two ADU (Accessory Dwelling Units) may be added to the building, potentially yielding a 15% increase in rental income. The upstairs units have balconies, and the downstairs units have the potential to add private patios. The property has a total of 10 parking spaces (6 single and 4 tandem).

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-02T16:29:31.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.

    www.zemberrealtygroup.com/homes/103939937

    652 N Hayworth Avenue Los Angeles (City), CA 90048

    • Price: $3,725,000
    • Status: Active
    • Updated: 33 min ago
    • ID#: 20561846
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1959
    Built
    Neighborhood:
    C10 - West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    C10 - West Hollywood Vicinity
    Property Description
    652 N Hayworth Avenue is in the epicenter of the Melrose Shopping District, one of the most popular and prestigious retail destinations in Los Angeles. The property is comprised of nine units and is architecturally qualified for an additional two ADU units. The property will be delivered with five units vacant, two of which are either completely or substantially renovated. The four occupied units have rents that are approximately 170% below market, providing an opportunity for a long- term owner to immediately reposition the building and capture a tremendous amount of future upside as the remaining units turn. Additionally, a feasibility study has been performed, and the findings indicate that up to two ADU (Accessory Dwelling Units) may be added to the building, potentially yielding a 15% increase in rental income. The upstairs units have balconies, and the downstairs units have the potential to add private patios. The property has a total of 10 parking spaces (6 single and 4 tandem).
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features CarportTandem Garage Parking YN Yes

    Interior Features

    Appliances DisposalRefrigerator Appliances YN Yes

    Property Features

    Gross Income 246361.00 Gross Multiplier 14.70 Gross Operating Income 253980.00 Insurance Expense 3300.00 Maintenance Expense 5850.00 Net Operating Income 165063.00 New Taxes Expense 47465.00 Other Expense 4950.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 81298.00 Trash Expense 2776.00 Water Sewer Expense 7050.00 Zoning Lar3

    Listing provided courtesy of Kimberly Roberts Stepp of Kwsm


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-02T16:29:31.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.

     
    Zember Realty Group
    1125 Linda Vista Dr.
    San Marcos CA, 92078