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$2,600,000
Est. payment /mo
6,842 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,842 sqft
Price per Sqft $380
MLS Listing ID CL25513135
HOA Y/N No
Year Built 1950
Lot Size 7,016 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
PROPERTY IS BEING SOLD WITH ADJACENT 10-UNIT BUILDING, 1243 S LA CIENEGA AVE, 20 UNITS IN TOTAL FOR $4,600,000...1239 & 1243 S La Cienega Blvd, a well-maintained 20-unit multifamily property located in the highly desirable Pico-Robertson neighborhood of Los Angeles. Built in 1950, this investment opportunity consists of (16) one-bedroom, one-bath units and (4) studio units across two mirrored lots. These properties are being offered together as a portfolio sale, providing investors with the opportunity to acquire two adjacent assets in a strong rental market. Additionally, both lots are commercially zoned (LAC2), presenting a rare opportunity for potential future redevelopment or mixed-use conversion. The property has undergone significant capital improvements, including updated electric, a recently replaced water heater (in 1243 building), copper plumbing, and bolted and braced foundations. Additionally, 1243 S La Cienega has a brand-new roof, while 1239's roof remains in good condition per Seller. With below-market rents and a 30% rental upside, this asset presents a compelling opportunity for investors seeking long-term appreciation and strong cash flow. The basements of both buildings are pre-configured for laundry rooms, offering a potential additional revenue stream. Furthe
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 4332028015
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Listed by Jake Glaser • Lyon Stahl Investment Real Estate, Inc.