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1700 S Vermont AVE Los Angeles, CA 90006
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Key Details
Sold Price $1,370,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,776 sqft
Price per Sqft $286
Subdivision Not Applicable-105
MLS Listing ID 320007819
Sold Date 02/02/22
HOA Y/N No
Year Built 1923
Lot Size 7,204 Sqft
Acres 0.1654
Property Description
The Residences of Vermont hits the market for the first time in nearly 50 years! This prime 6-unit asset provides incredible value-add repositioning opportunity with 45% rental upside in addition to development potential with C2 zoning w/ Tier 3 TOC. Delivered with current 4.8 CAP and 14.3 GRM on current rents. This 6-unit gated multifamily offering consists of one 2-story building with 4 units, and 2 large, detached bungalow residences. All units are large 1 bedroom/1 bath and include their own entrance and spacious, separate dining room that can be repurposed for den, office, or bedroom. Parking lot can accommodate 5-6 vehicles. This property benefits from significant frontage on Vermont and 17th Place in the thriving, high-density K-Town/Pico Union neighborhood that has been attracting massive investment and development.Tenants have remained current on rent throughout Covid. Close to Loyola High School and USC. Subject to Los Angeles Rent Stabilization Ordinance (RSO).Do not disturb tenants. Buyer to conduct own investigations and verify all information.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAC2
Interior
Fireplace No
Exterior
Garage OneSpace
View Y/N No
Parking Type OneSpace
Total Parking Spaces 5
Building
Entry Level Two
Level or Stories Two
Others
Tax ID 5056023034
Acceptable Financing Cash, CashtoNewLoan
Listing Terms Cash, CashtoNewLoan
Financing CashtoNewLoan
Special Listing Condition Standard
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Bought with Hyo Kyung Pak • Dream Realty Asset Mgt, Inc.