5 units in PRIME WEST LA | 1823 Camden Ave
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5 units in PRIME WEST LA 1823 Camden Ave
5 Unit Block of Flats £1,647,261 (£329,452/Unit) 4.02% Net Initial Yield Los Angeles, CA 90025
Investment Highlights
- The adjacent property located at 1819 Camden Avenue (4 units for $2,200,000) is also being offered for sale by the same Seller.
- Incredible unit mix with significant rental upside
- Potential to increase income by charging tenants for laundry
- Located in the heart of West Los Angeles
- First time for sale in over 50 years
- Located near high-end dining, retail, nightlife, Century City, and Santa Monica beach
Executive Summary
Jonathan Taksa of the Taksa Investment Group of RE/MAX Commercial & Investment Realty is pleased to offer for sale a rare multifamily asset located at 1823 Camden Avenue in the heart of vibrant West Los Angeles.
Offered for sale for the first time in over 50 years, the building was built in 1962 and exudes the character and vintage charm of mid-century Los Angeles. Ideally situated on a large R3 zoned lot, the property boasts an ideal unit mix of mostly spacious 1, 2 and 3-bedroom (and an efficiency unit) floor plans flooded by natural light.
The incredible unit mix includes (1) 3-bed, 2-bath unit, (2) 2-bed, 2-bath units, (1) 1-bed, 1-bath unit, and (1) efficiency unit. This is a fantastic asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. Additional property features include on-site parking as well as an on-site laundry facility. There is also the opportunity to add ADUs (Buyer to verify).
In close proximity to high-end dining, entertainment venues, Century City, and Santa Monica beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire prestigious assets in one of the best rental locations in all of Los Angeles.
***** The adjacent property located at 1819 Camden Avenue (4 units for $2,200,000) is also being offered for sale by the same Seller. Properties are available to be purchased
separately or as a package. *****
Offered for sale for the first time in over 50 years, the building was built in 1962 and exudes the character and vintage charm of mid-century Los Angeles. Ideally situated on a large R3 zoned lot, the property boasts an ideal unit mix of mostly spacious 1, 2 and 3-bedroom (and an efficiency unit) floor plans flooded by natural light.
The incredible unit mix includes (1) 3-bed, 2-bath unit, (2) 2-bed, 2-bath units, (1) 1-bed, 1-bath unit, and (1) efficiency unit. This is a fantastic asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. Additional property features include on-site parking as well as an on-site laundry facility. There is also the opportunity to add ADUs (Buyer to verify).
In close proximity to high-end dining, entertainment venues, Century City, and Santa Monica beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire prestigious assets in one of the best rental locations in all of Los Angeles.
***** The adjacent property located at 1819 Camden Avenue (4 units for $2,200,000) is also being offered for sale by the same Seller. Properties are available to be purchased
separately or as a package. *****
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£108,713
|
£18.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£3,262
|
£0.56
|
| Effective Gross Income |
£105,451
|
£18.23
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£39,206
|
£6.78
|
| Net Operating Income |
£66,245
|
£11.45
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £108,713 |
| Annual Per SF | £18.80 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £3,262 |
| Annual Per SF | £0.56 |
| Effective Gross Income | |
|---|---|
| Annual | £105,451 |
| Annual Per SF | £18.23 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £39,206 |
| Annual Per SF | £6.78 |
| Net Operating Income | |
|---|---|
| Annual | £66,245 |
| Annual Per SF | £11.45 |
Property Facts
| Price | £1,647,261 | Apartment Style | Low Rise |
| Price Per Unit | £329,452 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Net Initial Yield | 4.02% | Building Size | 4,479 SF |
| Gross Rent Multiplier | 15.15 | Average Occupancy | 100% |
| No. Units | 5 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Price | £1,647,261 |
| Price Per Unit | £329,452 |
| Sale Type | Investment |
| Net Initial Yield | 4.02% |
| Gross Rent Multiplier | 15.15 |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,479 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.12/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2 | 1 | £3,065 | - |
| 2+2 | 2 | £2,524 | - |
| 1+1 | 1 | £1,587 | - |
| Studios | 1 | £873.83 | - |
1 of 1
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 4323-019-037 | Improvements Assessment | £137,227 |
| Land Assessment | £721,576 | Total Assessment | £858,803 |
PROPERTY TAXES
Parcel Number
4323-019-037
Land Assessment
£721,576
Improvements Assessment
£137,227
Total Assessment
£858,803
zoning
| Zoning Code | LAR3 |
| LAR3 |
-
Jonathan Taksa -
RE/MAX Commercial & Investment Realty
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5 units in PRIME WEST LA | 1823 Camden Ave
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