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906-- 912 N Virgil Ave

Los Angeles, CA 90029
  • $4,495,000
  • STATUS: Active
  • ON SITE: 109 Days
  • ID#: 22-150503
UPDATED: 32 min ago
$4,495,000
  • 16
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,588
    SQFT
  • $388
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1926
County:

School Ratings & Info

Description

We are pleased to present a sixteen (16) unit apartment building located at 906-912 N Virgil Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, south of Santa Monica Boulevard and east of North Vermont Avenue. Built in 1926, this property contains a streamlined unit mix of sixteen (16) large one bedroom / one bathroom units spread across two (2) lots. The separate lots have eight (8) units each, so there is no need for a on-site manager. Situated in an opportunity zone, the property features a brand new roof completed in 2022, a completely redone foundation, fully repiped plumbing, and a secure gating system. Seven (7) of the units are fully renovated with new in-unit washer/dryers, and all units have access to the incredible center courtyard. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across North Virgil Village and Silver Lake. Some of these amenities include Alma's Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreation Center and Park. Residents of this building have central access to all that Los Angeles has to offer. Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on nearly 60% rental upside potential in a core market of Los Angeles.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-14T16:43:10.07. 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/128086258
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906-- 912 N Virgil Ave Los Angeles, CA 90029

  • Price: $4,495,000
  • Status: Active
  • On Site: 109 Days
  • Updated: 32 min ago
  • ID#: 22-150503
16
Beds
0
Baths
0
½ Baths
0.13
Acres
11,588
SQFT
$388
$/SQFT
1926
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
We are pleased to present a sixteen (16) unit apartment building located at 906-912 N Virgil Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, south of Santa Monica Boulevard and east of North Vermont Avenue. Built in 1926, this property contains a streamlined unit mix of sixteen (16) large one bedroom / one bathroom units spread across two (2) lots. The separate lots have eight (8) units each, so there is no need for a on-site manager. Situated in an opportunity zone, the property features a brand new roof completed in 2022, a completely redone foundation, fully repiped plumbing, and a secure gating system. Seven (7) of the units are fully renovated with new in-unit washer/dryers, and all units have access to the incredible center courtyard. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across North Virgil Village and Silver Lake. Some of these amenities include Alma's Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreation Center and Park. Residents of this building have central access to all that Los Angeles has to offer. Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on nearly 60% rental upside potential in a core market of Los Angeles.
Exterior Features

Cross Streets Sant Monica Blvd & N Vermont Ave Lot Description 2-4 Lots Lot Location City Lot Size Area 11006 Other Structures None Parking Garage None Patio Features Porch - FrontPatio OpenEnclosed Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Style Spanish Tennis Court None Total Parking 0 View Description City View YN Yes

Interior Features

Baths Total 16.00 Cooking Appliances OvenMicrowaveBuilt-InsRange Cooling Air Conditioning Equipment Built-InsDishwasherDryerWasherRefrigeratorRange/OvenMicrowave Flooring Wood Heating Wall Interior Features Built-InsLaundry - Closet StackedStorage Space Kitchen Features Remodeled Laundry In Unit Laundry Equipment Own

Property Features

Assessed Total Value 468294 Gross Income 282300 Gross Operating Income 273831 Land Lease Type Fee Like Units1 16 Net Operating Income 182635.00 Number Of Buildings 2 Number Of Units 16 Property Condition Updated/Remodeled Sale Type Standard Security Features Gated Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 91196 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-14T16:43:10.07. 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