1419 S Bronson Ave

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Address: 1419 Bronson Ave, Los Angeles, CA 90019, USA

California & West

Created date: August 22, 2024

Date last updated: August 22, 2024

Built in 1924 | LA RSO Property
Two Vacant Units
Build 2 ADUs on Parking Lot
Large 2 Bed / 1.5 Bath Units
Den/Office in Two of the Units
High CAP Rate with Upside
Residential Financing
Arlington Heights Location

Property Description

The LAAA Team of Marcus & Millichap is pleased to present this 4-unit investment property located in the desirable Arlington Heights neighborhood of Los Angeles. Built in 1924, this rent-controlled property offers 4,628 square feet of gross building area and sits on a 6,281 square foot lot (0.14 acres). Each of the four units contains 2 bedrooms and 1.5 bathrooms, with two of the units featuring an additional den/office space. The units with the extra den/office are approximately 1,262 rentable square feet, while those without are about 1,052 square feet. Additionally, two of the four units are currently vacant and will be delivered vacant to the buyer at close of escrow. The seller has preliminary plans to build two detached ADUs in the parking lot behind the building. Each ADU is designed to be around 900 square feet, featuring 2 bedrooms and 2 bathrooms. With construction costs estimated between $225 and $250 per square foot, the total cost for each ADU is projected to be between $200,000 and $225,000. Once completed, these ADUs are expected to generate at least $3,500 per month in rent ($7,000 combined), adding an additional $84,000 in annual rental income. To see the ADU drawings, please CLICK HERE. Arlington Heights is a highly attractive neighborhood for multifamily investors, offering a prime location in Central Los Angeles with strong rental demand. The neighborhood's historical charm, combined with its proximity to major city hubs, ensures a steady influx of tenants seeking convenient urban living. With well-maintained properties and a vibrant community atmosphere, Arlington Heights provides a stable and potentially lucrative environment for real estate investors looking to capitalize on a high-demand area with enduring appeal.

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Key Property Information

Listing Status:	Available
Price:	$1,825,000
No. of Units:	4
Cap Rate:	5.31%
GRM /GIM:	13.87
Year Built:	1924
Building Size:	4,628 Sq ft
Lot Size:	6,281.00 Sq ft
Opportunity Zone:	No
Price per unit:	$456,250