$3,300,000
$3,475,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
14 Beds
14 Baths
8,954 SqFt
SOLD DATE : 02/05/2024
Key Details
Sold Price $3,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,954 sqft
Price per Sqft $368
MLS Listing ID 23315163
Sold Date 02/05/24
Bedrooms 14
HOA Y/N No
Year Built 1964
Lot Size 8,215 Sqft
Acres 0.1886
Property Description
We are pleased to present a ten (10) unit apartment building located at 812 North Martel Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of North La Brea Avenue. Built in 1964, Martel features a great unit mix of six (6) one-bedroom / one-bathroom units and four (4) two-bedroom / two-bathroom units. The units are large, averaging about 900 square feet each. Select units feature balconies, with views of the city. The building's envelope is a stone-deco architecture that is complimented by thoughtful landscaping and secured walkway entry to the units, and the parking. The building is fully parked with tuck-under parking that has been reinforced for seismic retrofitting in 2018. Some of the most notable places that tenants will enjoy close to the building are Pink's, Osteria Mozza, Blu Jam Caf, Ronan, Blue Bottle Coffee, among others. Situated in a prime pocket of Melrose, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside, at very favorable entry pricing, in a mature and low-velocity market.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning LAR3
Interior
Heating Wall Furnace
Flooring Wood
Fireplace No
Appliance Built-In, Refrigerator
Exterior
Garage Covered
Pool None
Community Features Gated
Parking Type Covered
Total Parking Spaces 10
Private Pool No
Building
Lot Description Landscaped
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5526006026
Security Features Security Gate,Gated Community,Key Card Entry
Special Listing Condition Standard
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Bought with Jason Tuvia • Marcus & Millichap