About 716 N Van Ness Ave
Great Location! Four Plex in Prime location just North of Melrose. Zoned LAR3 . There are four 1 bdrm + I bthrm units in the Bldg., plus Two garages with one car parking for each unit. All units are occupied. The Bldg. is approx 6792 sq ft. Walk to stores, restaurants and shops. Tree lined St. with parking. With strong current income and future rental upside potential, this property offers significant value. All units are separately metered for gas and electricity. See DOCS for Rent Roll & Financials. Tenant occupied property shown by the agent only . Inside with accepted offer. Pls do not disturb the Tenants. Seller is selling this property in its present as-is condition and will not be making repairs or improvements. Financial information is provided by Property Owner and not guaranteed by Agent or Seller. Buyer to confirm financial information and property condition through inspections during escrow. This property is covered by City of Los Angeles Rent Control, Buyer to fully investigate. Agent Most of the 4 units have been updated. Recent upgrades include some plumbing,newer electrical in some units. it's worth noting it's location is close to west Hollywood shopping, the Grove and Holywood. Plenty of upside in current rents. The Bldg. has been managed by its owners. , Priced to sell!.
Features of 716 N Van Ness Ave
| MLS® # | 24-385079 |
|---|---|
| Price | $1,550,000 |
| Units | 4 |
| Bedrooms | 4 |
| Bathrooms | 4.00 |
| Square Footage | 3,932 |
| Acres | 0.15 |
| Year Built | 1928 |
| Type | Residential Income |
| Sub-Type | Fourplex |
| Style | Architectural |
| Status | Active |
Community Information
| Address | 716 N Van Ness Ave |
|---|---|
| Area | Hollywood |
| City | LOS ANGELES |
| County | Los Angeles |
| State | CA |
| Zip Code | 90038 |
Amenities
| Parking Spaces | 4 |
|---|---|
| Garages | Garage |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Interior | Hardwood, Mixed, Tile |
|---|---|
| Interior Features | None |
| Appliances | Built-In Gas, Oven |
| Heating | Central, Forced Air |
| Cooling | Wall/Window |
| Fireplace | No |
| Has Basement | No |
Exterior
| Exterior | Hard Coat Stucco |
|---|---|
| Lot Description | Fenced, Gutters, Yard, Utilities - Overhead, Street Lighting, Street Paved, Curbs, Front Yard |
| Roof | Composition |
| Construction | Hard Coat Stucco |
| Foundation | Combination Foundation |
School Information
| District | Other |
|---|
Additional Information
| Date Listed | April 26th, 2024 |
|---|---|
| Days on Market | 13 |
| Zoning | LAR3 |
| Foreclosure | No |
| RE / Bank Owned | No |
| Cap Rate | 3.50 |
| Actual Annual Gross Income | $87,440 |
| Gross Operating Income | $87,440 |
| Net Operating Income | $47,278 |
Unit 1 Details
| Beds | 1 |
|---|---|
| Baths | 1.00 |
| Rent | $2,238 |
Unit 2 Details
| Beds | 1 |
|---|---|
| Baths | 1.00 |
| Rent | $2,179 |
Unit 3 Details
| Beds | 1 |
|---|---|
| Baths | 1.00 |
| Rent | $970 |
Unit 4 Details
| Beds | 1 |
|---|---|
| Baths | 1.00 |
| Rent | $2,080 |
Listing Details
| Agent | Richard M Chernock (01369553) |
|---|---|
| Office | KW Advisors |