819 Beacon Avenue, Los Angeles, CA 90017
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- MLS#: 24398233 ( )
- Street Address: 819 Beacon Avenue
- Viewed: 3
- Price: $2,375,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1906
- Bldg sqft: 0
- Days On Market: 250
- Additional Information
- County: LOS ANGELES
- City: Los Angeles
- Zipcode: 90017
- Provided by: Marcus & Millichap
- Contact: Oscar Oscar
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DescriptionWe are pleased to present 819 Beacon Ave, a charming 15 unit multifamily property located in the vibrant Westlake neighborhood of Los Angeles. Constructed in 1906, this property comprises a balanced mix of 7 single and 8 one bedroom units, spread across a building area of 10,340 square feet on a 7,750 square foot lot. Its proximity to the trendy area of Koreatown and the bustling downtown Los Angeles offers investors a unique blend of historical charm and access to a dynamic urban lifestyle, attracting a broad tenant base. At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. The property's utility setup also offers a cost saving opportunity. Since it is master metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker's Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base. The strategic location of 819 Beacon Ave not only ensures easy day to day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.
Property Location and Similar Properties
Features
Building Area Total
- 10340.00
Country
- US
Levels
- Two
Netoperatingincome
- 120298.00
Otherincome1
- 3540.00
Parcel Number
- 5142015015
Sourcesystemkey
- 24-398233:CLAW
Totalexpenses
- 109784.00
Year Built
- 1906
Zoning
- LAR3