1300 S Van Ness Avenue, Los Angeles, CA 90019

Price: $1,855,000

Attention 1031 and Value-Add Opportunity Investors, Developers and Owner-Users. First time on the market in more than 30 years! This is a rare opportunity to acquire a value-add investment with the future potential to develop a mix-use, multi-story complex. This mixed-use investment consists of 2, 4-unit apartment buildings and an approximately 1,782 sq. ft. retail building. All three buildings are situated on a 10,506 sq. ft. corner parcel zoned C2-2D-O-CPIO, Tier 2 City of Los Angeles. The first 4 plex is located at 1300 S. Van Ness Ave, then adjacent to the east at 3284 Pico Blvd is a single-story retail building, the third building to the east, is the second 4 plex which also fronts Pico Blvd. The two-apartment buildings total 9,456 sq. ft., which would indicate the average square footage is about 1,100 sq. ft per unit. The property is fully occupied, with as much as 65% or more in upside rent potential. The retail tenant is on a month-to-month tenancy and for the savvy investor could create an owner user scenario. The buildings have limited parking. There is a driveway that has access from Van Ness Ave. This location provides the tenants easy access to the surrounding areas including Country Club Park, Koreatown, and Downtown.