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7456 Waring Ave - 749 N Vista St & 7456 Waring Ave

2 Unit Apartment Building Offered at £1,203,225 at a 2.39% Net Initial Yield in Los Angeles, CA 90046

Investment Highlights

  • An additional structure recreation room with existing plumbing and electrical provides a valuable opportunity to convert it into an ADU
  • The flat roof is in good condition.
  • Significant upgrades throughout the property include a complete re-piping with copper plumbing, new water heaters, and enhanced electrical systems.

Executive Summary

The Appel Group of Marcus & Millichap is pleased to present the exclusive listing of 749 North Vista Street and 7456 Waring Avenue. This duplex built in 1924, totaling 2,263 rentable square feet on a 6,204 square foot lot.
This attractive duplex property features two separate houses, each with two bedrooms and one bathroom. The property includes an additional structure which is being used as a recreation room equipped with existing plumbing and electrical, presenting the opportunity to convert it into an Accessory Dwelling Unit (ADU) for added rental income.
Both houses are separate structures and designed for convenience with dual entry and in-unit washer and dryers, enhancing tenant appeal. The house on Waring boasts central air conditioning, ensuring comfort, newer windows and an updated kitchen. The property also boasts a two car garage.
Significant upgrades have been made throughout the property, including a complete re-piping with copper plumbing, new water heaters, and electrical system enhancements. The flat roof is in good condition, minimizing immediate maintenance concerns.
The property is ideally located in the vibrant Hollywood Hills West neighborhood of Los Angeles, just a short distance from the bustling intersection of Melrose Avenue and Fairfax Avenue. This prime location offers residents a rich mix of urban amenities, trendy shops, and a diverse culinary scene, making it a desirable area to live.
The property is situated near Fairfax High School, adding to its appeal for families and students. The neighborhood is known for its artistic vibe, with a variety of boutiques, cafes, and restaurants within walking distance. Residents can enjoy the eclectic atmosphere of Melrose Avenue, famous for its unique shops and lively street art.
Additionally, the area is well-connected to public transportation options, providing easy access to other parts of Los Angeles. Major thoroughfares nearby facilitate convenient commutes to downtown and other key destinations.
With its desirable features and potential for additional income through an ADU, 749 North Vista Street and 7456 Waring Avenue is well-positioned for strong rental demand. The combination of the sought-after neighborhood, modern amenities, recent upgrades, and potential for future growth makes this property a compelling investment opportunity in a vibrant Los Angeles market.

Property Facts

Price £1,203,225
Price Per Unit £601,612
Sale Type Investment
Net Initial Yield 2.39%
Gross Rent Multiplier 22.96
No. Units 2
Property Type Residential
Building Size 2,263 SF
Number of Floors 1
Year Built 1924

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 2 - -
Walk Score ®
Walker's Paradise (96)
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.®
  • Listing ID: 33479716

  • Date on Market: 10/10/2024

  • Last Updated:

  • Address: 7456 Waring Ave, Los Angeles, CA 90046

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