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24 Units near Century City 1830 Greenfield Ave

24 Unit Block of Flats £7,245,525 (£301,897/Unit) 4.49% Net Initial Yield Los Angeles, CA 90025

Investment Highlights

  • Incredible West Los Angeles location
  • Several luxuriously upgraded units
  • Massive storage area (previously an indoor pool)
  • Excellent unit mix of large 1 and 2-bedroom floor plans
  • Charming courtyard setting with fountain
  • In close proximity to Century City, fine dining, and entertainment venues

Executive Summary

Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale a rare 24-unit multi-family investment opportunity ideally located in the heart of LA’s vibrant Westside.
1830 Greenfield Avenue, built in 1963 and positioned along a lovely tree lined street, boasts an ideal unit mix consisting of large 1-bedroom and 2-bedroom units. Each of these units is spacious, has a terrific floor plan, and offers an abundance of natural light. The unit mix includes (12) 2-bed, 2-bath units and (12) 1-bed, 1-bath units, and there is significant rental upside in the rents. The property features an idyllic courtyard setting with a fountain, a large lobby, ample parking, and an on-site laundry facility. Owned by the same family for several
decades, this trophy asset is situated in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
In close proximity to the high-end dining and nightlife of Century City and Brentwood, this rare offering presents an astute investor with the unique opportunity to establish a significant rental footprint in West LA and to capitalize on higher market rents in one of the best rental locations in all of Los Angeles.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £523,172 £21.14
Other Income £3,910 £0.16
Vacancy Loss £15,695 £0.63
Effective Gross Income £511,388 £20.67
Taxes - -
Operating Expenses - -
Total Expenses £186,016 £7.52
Net Operating Income £325,372 £13.15

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £523,172
Annual Per SF £21.14
Other Income
Annual £3,910
Annual Per SF £0.16
Vacancy Loss
Annual £15,695
Annual Per SF £0.63
Effective Gross Income
Annual £511,388
Annual Per SF £20.67
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £186,016
Annual Per SF £7.52
Net Operating Income
Annual £325,372
Annual Per SF £13.15

Property Facts

Price £7,245,525
Price Per Unit £301,897
Sale Type Investment
Net Initial Yield 4.49%
Gross Rent Multiplier 13.75
No. Units 24
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.46 AC
Building Size 24,746 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1963
Parking Ratio 1.45/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Storage Space
  • Heating
  • Ceiling Fans
  • Tile Floors
  • Wooden Floors
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Dining Room
  • Family Room
  • Freezer
  • Pantry

Site Amenities

  • Controlled Access
  • Laundry Facilities
  • Property Manager on Site
  • Spa
  • Gated

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+2 11 £1,390 1,200
1+1 13 £1,483 800
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4323-012-039
Land Assessment
£267,345
Improvements Assessment
£432,089
Total Assessment
£699,434

zoning

Zoning Code LAR3
LAR3
  • Listing ID: 33271940

  • Date on Market: 23/09/2024

  • Last Updated:

  • Address: 1830 Greenfield Ave, Los Angeles, CA 90025

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