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3359 Rowena Ave

Los Angeles, CA 90027
  • $4,300,000
  • STATUS: Active
  • ON SITE: 142 Days
  • ID#: 22-141049
UPDATED: 43 min ago
$4,300,000
  • 16
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,456
    SQFT
  • $455
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1953
County:
Area:

School Ratings & Info

Description

We are proud to present 3359 Rowena Avenue, a 2-story, 12-unit Mid-Century value-add multi-family investment opportunity with 67%+ rental upside potential, located in the highly desirable Los Feliz submarket of Los Angeles (just South of Los Feliz Boulevard and West of Griffith Park Boulevard).Built in 1953, this unique building is comprised of 8 (1+1), 4 (2+1) units that average approximately 825+ gross square feet. The 9,456 square foot structure is situated on an 11,781 square foot, LARD1.5-1XL zoned lot.The property includes a large, well-kept garden at the front of the building. There are 10 parking spaces in the rear of the building, accessible by the driveway on the East side of the building. The building's units are bright and spacious and feature original hardwood flooring and crown molding in the living rooms. The bathrooms retain their original, Mid-Century tile, and 2-bedroom units include separate bathtubs and stall showers. The property is separately metered for gas and electric, and each unit contains its own water heater.With close proximity to Los Feliz Boulevard, Hillhurst Avenue and the 5 freeway, the property's Los Feliz location offers residents effortless access to countless shopping, dining, entertainment, and recreation options of Los Feliz, Sunset Junction, Silver Lake, Atwater Village, and the revitalized Downtown Los Angeles located less than 5 miles to the South.The building is 0.65 miles West of the 5 freeway, 1.5 miles North of the 2, 2.2 miles Northeast of the 101 and 3.7 miles Northwest of the 110. 3359 Rowena Avenue is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-19T15:43:40.89. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/127176702
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3359 Rowena Ave Los Angeles, CA 90027

  • Price: $4,300,000
  • Status: Active
  • On Site: 142 Days
  • Updated: 43 min ago
  • ID#: 22-141049
16
Beds
0
Baths
0
½ Baths
0.27
Acres
9,456
SQFT
$455
$/SQFT
1953
Built
Neighborhood:
Los Feliz
County:
Los Angeles
Area:
Los Feliz
Property Description
We are proud to present 3359 Rowena Avenue, a 2-story, 12-unit Mid-Century value-add multi-family investment opportunity with 67%+ rental upside potential, located in the highly desirable Los Feliz submarket of Los Angeles (just South of Los Feliz Boulevard and West of Griffith Park Boulevard).Built in 1953, this unique building is comprised of 8 (1+1), 4 (2+1) units that average approximately 825+ gross square feet. The 9,456 square foot structure is situated on an 11,781 square foot, LARD1.5-1XL zoned lot.The property includes a large, well-kept garden at the front of the building. There are 10 parking spaces in the rear of the building, accessible by the driveway on the East side of the building. The building's units are bright and spacious and feature original hardwood flooring and crown molding in the living rooms. The bathrooms retain their original, Mid-Century tile, and 2-bedroom units include separate bathtubs and stall showers. The property is separately metered for gas and electric, and each unit contains its own water heater.With close proximity to Los Feliz Boulevard, Hillhurst Avenue and the 5 freeway, the property's Los Feliz location offers residents effortless access to countless shopping, dining, entertainment, and recreation options of Los Feliz, Sunset Junction, Silver Lake, Atwater Village, and the revitalized Downtown Los Angeles located less than 5 miles to the South.The building is 0.65 miles West of the 5 freeway, 1.5 miles North of the 2, 2.2 miles Northeast of the 101 and 3.7 miles Northwest of the 110. 3359 Rowena Avenue is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
Exterior Features

Covered Parking 6 Direction Faces South Exterior Construction Stucco Lot Size Area 11781 Other Structures None Parking Garage Carport Patio Features Balcony Total Parking 10 View Description MountainsCity View YN Yes

Interior Features

Bathroom Features Shower Over TubShower Stall Baths Total 12.00 Cooling None Equipment RefrigeratorRange/Oven Flooring Wood Heating Wall Interior Features Crown Moldings Laundry Community Laundry Equipment Lease Water Heater Features Central Water Heater

Property Features

Assessed Total Value 1521740 Gross Income 258936 Gross Operating Income 251240 Like Units1 8 Like Units2 4 Net Operating Income 159437.00 Number Of Buildings 1 Number Of Units 12 Owner Pays Water Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 91803 Type Of Units (1+1) (2+1) Year Built Source Vendor Enhanced Zoning Lard1.5-1Xl

Listing provided courtesy of Matthew R. Kanner DRE#01349203 of Keller Williams Realty Los Feliz: 323-300-1000.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-19T15:43:40.89. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064