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$ 3,600,000
Est. payment | /mo
12 Beds
16 Baths
9,920 SqFt
$ 3,600,000
Est. payment | /mo
12 Beds
16 Baths
9,920 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,920 sqft
Price per Sqft $362
MLS Listing ID 24456523
Bedrooms 12
HOA Y/N No
Year Built 1951
Lot Size 10,497 Sqft
Property Description
1860 North Alexandria Avenue is being offered for sale for the first time in nearly 50 years. The offering is located within the Hollywood submarket, considered one of the country's world-class employment centers and offers access to an enormous and diverse set of employers. This 16-unit garden-style apartment community is situated on the southeast corner of Franklin Avenue and Alexandria Avenue within the highly coveted Los Feliz zip code of 90027. The immediate area has historically provided investors with exceptional long-term capital appreciation and wealth preservation.1860 North Alexandria Avenue, built in 1951, features an ideal unit composition of Twelve (12) One-Bedroom | One-Bathroom and Four (4) Single | One-Bathroom apartment homes surrounding a quiet gated courtyard with mature landscaping. The oversized corner parcel measures 10,494 square feet. Updated unit interiors feature original oak flooring, tiled baths and kitchens, wooden windows, refrigerator, stove, dishwasher, and abundant closets/storage. The property demonstrates genuine pride of ownership, with multiple capital improvements made, specifically new plumbing, including replacing horizontal lines and risers, which was completed in 2010. The mandatory soft-story retrofit was completed in 2019, new handrails were installed on the staircases and walkways in 2021, and gas shut-off valves were installed in 2019. Property attributes include 12 vehicle parking spaces (6 individual garages and 6 on-grade spaces), a common area laundry room, separate gas & electrical utilities, and one central hot-water tank. The offering is ideal for forward-thinking, long-term investors expecting meaningful rental growth/value appreciation in an outstanding area. 1860 North Alexandria Avenue is centrally located in the 90027 / Los Feliz area, one of LA's most stable and desirable neighborhoods. Furthermore, the subject property offers residents access to various entertainment venues, cultural destinations, and dining options within Los Feliz itself and neighboring Silver Lake, Hollywood, and DTLA.
Location
State CA
County Los Angeles
Area 637 - Los Feliz
Zoning LARD1.5
Interior
Fireplace No
Exterior
Parking Features Covered, Uncovered
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5589033042
Special Listing Condition Standard
Listed by Nick Astrupgaard • KW Commercial Studio City