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2749 San Marino Street

Los Angeles (City), CA 90006
  • $14,995,000
  • STATUS: Active
  • ON SITE: 95 Days
  • ID#: SR21158726
$14,995,000
  • 0
    BEDS
  • 0.46
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

Description

The Collection on San Marino Street represents a rare opportunity to acquire two adjacent multifamily investment portfolios totaling 5 buildings and 115 units in central Los Angeles, MacArthur Park. The portfolios may be purchased together or separately. Portfolio 1: 2737, 43 & 49 San Marino St. is comprised of 3 adjacent buildings totaling 85 units. Portfolio 2: 2715 & 2723 San Marino St. is comprised of 2 adjacent buildings totaling 30 units. Portfolio 1 and Portfolio 2 have a triplex between them that is currently NOT up for sale. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. This description is for Portfolio 1. The apartment buildings stand on (3) adjacent lots with separate APNs and total 85 units. The buildings were constructed in 1924, 1926 and 1928 totaling 45,099 building square feet on a combined lot size of 20,250 square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment. Buyer to verify. These extremely spacious units at San Marino average 530 square feet and are comprised of: (71) Studio + 1 Bath (10) 1 Bedroom + 1 Bath (4) 1 Bedroom + 1.5 Bath unitsAesthetically, the property grounds and building have been well maintained. + Roofs are well-kept, the vents and pipes are inspected and sealed regularly.+ The electric in buildings 2737 & 2743 were completely rewired and have separate meters.+ In building 2749 a new water heater and a significant portion of gas line was replaced in 2021.+ Buildings 2737 & 2749 have been updated with copper plumbing as needed and building 2743 was completely re-piped in 2017.+ All buildings are equipped with security monitoring systems. In addition, 55 of the 85 units have been renovated with new kitchens, bathrooms and laminate plank wood flooring. Highlights: 3 building, 85-unit portfolio with the opportunity to purchase a neighboring 2 building, 30 unit portfolio! Unit comprised of: (71) Studio + 1 Bath, (10) 1 Bedroom + 1 Bath and (4) 1 Bedroom + 1.5 Bath Select buildings have undergone capital improvements including but not limited to, new plumbing, electrical, upgrading system and 55 units out of 85 have been renovated. Value-Add opportunity with immediate upside in rents. Located in a Tier 2 Transit Oriented Community (TOC)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. 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 Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/119515842
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2749 San Marino Street Los Angeles (City), CA 90006

  • Price: $14,995,000
  • Status: Active
  • ID#: SR21158726
0
Beds
0
Baths
0
½ Baths
0.46
Acres
1928
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
The Collection on San Marino Street represents a rare opportunity to acquire two adjacent multifamily investment portfolios totaling 5 buildings and 115 units in central Los Angeles, MacArthur Park. The portfolios may be purchased together or separately. Portfolio 1: 2737, 43 & 49 San Marino St. is comprised of 3 adjacent buildings totaling 85 units. Portfolio 2: 2715 & 2723 San Marino St. is comprised of 2 adjacent buildings totaling 30 units. Portfolio 1 and Portfolio 2 have a triplex between them that is currently NOT up for sale. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. This description is for Portfolio 1. The apartment buildings stand on (3) adjacent lots with separate APNs and total 85 units. The buildings were constructed in 1924, 1926 and 1928 totaling 45,099 building square feet on a combined lot size of 20,250 square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment. Buyer to verify. These extremely spacious units at San Marino average 530 square feet and are comprised of: (71) Studio + 1 Bath (10) 1 Bedroom + 1 Bath (4) 1 Bedroom + 1.5 Bath unitsAesthetically, the property grounds and building have been well maintained. + Roofs are well-kept, the vents and pipes are inspected and sealed regularly.+ The electric in buildings 2737 & 2743 were completely rewired and have separate meters.+ In building 2749 a new water heater and a significant portion of gas line was replaced in 2021.+ Buildings 2737 & 2749 have been updated with copper plumbing as needed and building 2743 was completely re-piped in 2017.+ All buildings are equipped with security monitoring systems. In addition, 55 of the 85 units have been renovated with new kitchens, bathrooms and laminate plank wood flooring. Highlights: 3 building, 85-unit portfolio with the opportunity to purchase a neighboring 2 building, 30 unit portfolio! Unit comprised of: (71) Studio + 1 Bath, (10) 1 Bedroom + 1 Bath and (4) 1 Bedroom + 1.5 Bath Select buildings have undergone capital improvements including but not limited to, new plumbing, electrical, upgrading system and 55 units out of 85 have been renovated. Value-Add opportunity with immediate upside in rents. Located in a Tier 2 Transit Oriented Community (TOC)
Exterior Features

Lot Features Back YardRectangular LotWalkstreet Number Of Separate Electric Meters 53 Parking Features On Street Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN Yes Common Interest None Community Features BikingParkStreet LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 620188 Gross Scheduled Income 1109400 Insurance Expense 18268 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventionalContract Net Operating Income 620188 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 455931 Rent Control YN Yes Security Features Closed Circuit Camera(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 12885 Water Sewer Expense 0 Water Source Public Zoning Lar4

Listing provided courtesy of Raymond Rodriguez of Keller Williams Realty Calabasas


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. 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 Keller Williams Realty. Licensed in the State of California, USA.
 
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