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    2715 San Marino Street

    Los Angeles, CA 90006
    • $5,895,000
    • STATUS: Active
    • ON SITE: 122 Days
    • ID#: SR21135381
    UPDATED: 38 min ago
    $5,895,000
    • 0
      BEDS
    • 0.46
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 16,804
      SQFT
    • $351
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1950
    County:

    School Ratings & Info

    Description

    2715 & 2723 San Marino Street is a rare two building portfolio sale located in the highly coveted and emerging sub-market of Macarthur Park, Los Angeles. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. The apartment buildings stand on two adjacent lots with separate APNs and total 30 units. The buildings were constructed in 1923 and 1950 totaling 16,804 building square feet on a combined lot size of 19,866 square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment or the addition of multiple ADU units. Buyer to verify. These extremely spacious units at San Marino average 560 square feet. The units are comprised of: (4) Jr. 1 Bedroom + 1 Bath, (24) 1 Bedroom + 1 Bath, (2) 2 Bedroom + 1 Bath units. Common area amenities include controlled access, security camera monitoring system, gated covered parking, existing space to install on-site laundry and a central-courtyard. Unit amenities include select units with air conditioning, stove, plenty of closet space. Several units have been upgraded with new flooring and counter tops. Aesthetically, the property grounds and building are well maintained. MacArthur Park is located just minutes outside of Downtown L.A.s employment hub in a bustling neighborhood with a diverse demographic. From working professionals, entrepreneurs, artists to blue-collar workers; the Macarthur Park neighborhood is a centrally located sub-market of Los Angeles and is adjacent to other notable neighborhoods including Downtown Los Angeles, Koreatown, Pico Union and a short drive to USC Village. The rental market is dense with endless streets lined with small businesses. MacArthur Park is designated Cultural Monument #100 in the City of Los Angeles and near Westlake, adjacent to the Metros Westlake/MacArthur Park Station. This provides convenient access to the Red and Purple Lines. Those lines provide public transportation toward Downtown, North Hollywood and toward Koreatown, with West Side extensions projected to be completed in 2027. Amidi Group, a San Francisco-based developer, is 50% complete with their $180 million 1027 Wilshire development.

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    Based on information from CRISNet MLS as of 2021-10-23T19:56:11.76. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2021-10-23T19:56:11.76. 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.thepayabgroup.com/homes/118592550
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    2715 San Marino Street Los Angeles, CA 90006

    • Price: $5,895,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: SR21135381
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.46
    Acres
    16,804
    SQFT
    $351
    $/SQFT
    1950
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    2715 & 2723 San Marino Street is a rare two building portfolio sale located in the highly coveted and emerging sub-market of Macarthur Park, Los Angeles. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. The apartment buildings stand on two adjacent lots with separate APNs and total 30 units. The buildings were constructed in 1923 and 1950 totaling 16,804 building square feet on a combined lot size of 19,866 square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment or the addition of multiple ADU units. Buyer to verify. These extremely spacious units at San Marino average 560 square feet. The units are comprised of: (4) Jr. 1 Bedroom + 1 Bath, (24) 1 Bedroom + 1 Bath, (2) 2 Bedroom + 1 Bath units. Common area amenities include controlled access, security camera monitoring system, gated covered parking, existing space to install on-site laundry and a central-courtyard. Unit amenities include select units with air conditioning, stove, plenty of closet space. Several units have been upgraded with new flooring and counter tops. Aesthetically, the property grounds and building are well maintained. MacArthur Park is located just minutes outside of Downtown L.A.s employment hub in a bustling neighborhood with a diverse demographic. From working professionals, entrepreneurs, artists to blue-collar workers; the Macarthur Park neighborhood is a centrally located sub-market of Los Angeles and is adjacent to other notable neighborhoods including Downtown Los Angeles, Koreatown, Pico Union and a short drive to USC Village. The rental market is dense with endless streets lined with small businesses. MacArthur Park is designated Cultural Monument #100 in the City of Los Angeles and near Westlake, adjacent to the Metros Westlake/MacArthur Park Station. This provides convenient access to the Red and Purple Lines. Those lines provide public transportation toward Downtown, North Hollywood and toward Koreatown, with West Side extensions projected to be completed in 2027. Amidi Group, a San Francisco-based developer, is 50% complete with their $180 million 1027 Wilshire development.
    Exterior Features

    Lot Features Back YardLot 10000-19999 SqftRectangular LotWalkstreet Lot Size Area 19886.0000 Parking Total 0.00

    Interior Features

    Common Walls 1 Common Wall Laundry Features Common Area Laundry YN Yes

    Property Features

    Additional Parcels Description 5077028018 Additional Parcels YN Yes Community Features BikingHikingPark Gross Income 425723.00 Gross Scheduled Income 438889.00 Insurance Expense 8402.00 Land Lease YN No Net Operating Income 250528.00 New Construction YN No Number Of Separate Electric Meters 30 Number Of Separate Gas Meters 30 Number Of Separate Water Meters 1 Operating Expense 175194.00 Pool Features None Pool Private YN No Professional Management Expense 35496.00 Property Attached YN Yes Rent Control YN Yes Security Features Closed Circuit Camera(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 177509.00 Trash Expense 10093.00 Water Sewer Expense 0.00 Water Source Public Zoning Lar4

    Listing provided courtesy of Raymond Rodriguez, CA DRE# 01402283, of Keller Williams Realty Calabasas.


    Based on information from CRISNet MLS as of 2021-10-23T19:56:11.76. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2021-10-23T19:56:11.76. 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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    The Payab Group/Berkshire Hathaway HomeServices California Properties
    16810 Ventura Blvd.
    Encino CA, 91436