Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    1945 Garth Avenue, Los Angeles, CA 90034
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    1945 Garth Avenue
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    • MLS#: OC24148529 ( Apartment )
    • Street Address: 1945 Garth Avenue
    • Viewed: 4
    • Price: $5,150,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1964
    • Bldg sqft: 0
    • Days On Market: 164
    • Additional Information
    • County: LOS ANGELES
    • City: Los Angeles
    • Zipcode: 90034
    • Provided by: NorthMarq Realty Services, Inc
    • Contact: Steven Steven
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      1945 South Garth Avenue is a 14 unit extensively renovated apartment building built in 1964. Located north of Cadillac Avenue, between Robertson Boulevard and La Cienega Boulevard. 1945 South Garth caters perfectly to its renters pool as the building is made up of large style units. The subject property consists of two (2) 2 bedroom / 1 bathroom units, ten (10) 2 bedroom / 2 bathroom units, and two (2) 3 bedroom / 2 bathroom units. Current ownership has meticulously renovated ten units with finishes not typically seen in this submarket, these renovations include new laminate wood plank flooring, stainless steel appliance packages, modernized interior paint schemes, custom shaker cabinets, recessed lighting, new fan/wall AC units, new tile, and custom vanities in bathrooms. Additional upside can be realized by renovating the remaining classic units and capturing roughly ~53% upside in rents. Current ownership has also maintained and upgraded the propertys building systems and exterior faade, including new windows throughout, recently replaced roof, fresh painting, updated lighting/ signage package, landscaping, and compliance with the mandated soft story requirements (buyer to verify) by the City of Los Angeles, with a Certificate of Compliance in hand. These upgrades allow a subsequent buyer to focus on income generating improvements, minimizing the upfront CapEx typically reserved for building systems. Situated in a convenient centralized location, 1945 South Garth benefits from neighboring submarkets and the substantial growth surrounding the property. Less than two miles to the south is Los Angeles most exciting submarket: Culver City. The recent expansion and desirability of Culver City are attributed to the corporate confidence in the area, with Amazon, Apple, and HBO establishing a presence and showing no signs of slowing down. Consequently, a dramatic development pipeline has been established to meet the housing demand expected in Culver City and surrounding submarkets. Garths neighboring submarkets include Beverlywood to the west, Pico Robertson to the north, and West Adams to the east. All have undergone significant transformations and experienced surges in property values, making the subject property not only desirable but also affordable relative to surrounding submarkets with similar locational amenities.
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    Features
    Building Area Total
    1. 13164.00
    Commoninterest
    1. Community Apartment
    Common Walls
    1. 2+ Common Walls
    Country
    1. US
    Days On Market
    1. 79
    Entry Location
    1. Front
    Garage Spaces
    1. 0.00
    Insurance Expense
    1. 10498.00
    Laundry Features
    1. Community
    Lot Features
    1. Lot 10000-19999 Sqft
    2. Rectangular Lot
    Netoperatingincome
    1. 270382.00
    Number Of Separate Electric Meters
    1. 14
    Number Of Separate Gas Meters
    1. 14
    Parcel Number
    1. 4302029040
    Pool Features
    1. None
    Professionalmanagementexpense
    1. 20166.00
    Property Type
    1. Apartment
    Sewer
    1. Public Sewer
    Sourcesystemid
    1. CRM
    Sourcesystemkey
    1. 419302868:CRM
    Totalexpenses
    1. 132933.00
    Trash Expense
    1. 8744.50
    Water Sewer Expense
    1. 15155.00
    Water Source
    1. Public
    Year Built
    1. 1964
    Year Built Source
    1. Public Records
    Zoning
    1. LARD2
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836