3623 Monon St

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Address: 3623 Monon St, Los Angeles, California, US
Created date: May 15, 2024
Date last updated: May 15, 2024

Property Description

We are pleased to present 3623-3625 Monon Street, an exceptionally well-located, well-maintained 2-story, 9-unit value-add multi-family investment opportunity (70%+ rental upside potential), located in ULTRA PRIME Hyperion Village, steps from Trader Joe's and Gelsons in the highly desirable Silver Lake/Los Feliz submarkets of Los Angeles, steps south of Rowena Ave and west of Hyperion Ave. Built in 1966, the building is comprised of a great unit mix of 1 (2+2), 4 (2+1), and 4 (1+1) units that average approximately 780 gross square feet. The 7,016 square foot structure is situated on an 8,448 square foot, LARD1.5-zoned lot. There are 9 covered parking spaces (1/unit). Most of the units have original kitchens and bathrooms featuring mid-century ceramic tile countertops, shower/bathtub backsplashes, and original cabinets. Most units have updated laminate or prefinished hardwood floors. Units also feature small balconies, ample cupboard, drawer, and closet space, and a private lockable large bulk storage unit in the carport area. This ULTRA-PRIME Hip Hyperion Village location has an excellent 91 Walk Score, as the neighborhood is home to a variety of shops, restaurants, and nightlife destinations/entertainment options, with Gelson's Markets, Trader Joe's, Pinkberry, and Tenants of the Trees all within short walking distance and Griffith Park Less than a mile away. The Monon building is in the coveted Ivanhoe Elementary School district, the school being 0.4 miles from the building. The Americana at Brand, Glendale Galleria, Best Buy, and Costco are all less than a 10-minute drive away. The property's location is ideal for those looking to live on a quiet street while still having easy access to freeways and enjoying the convenience of being minutes away from, Silver Lake, Echo Park, Los Feliz, Hollywood, West Hollywood, Glendale, Burbank, and Downtown Los Angeles just 4.1 miles to the southeast. The building is 0.5 miles west of the 5 freeway, 1.4 miles west of the CA-2 freeway, 2.4 miles north of 101 freeway, 3.8 miles west of the 110 freeway, and 5.6 miles north of the 10. 3623-3625 Monon St is well-positioned for a value-added investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $3,215,000
No. of Units: 9
Year Built: 1966
Lot Size: 7,016.00 Sq ft
Opportunity Zone: No
Price per unit: $357,222
Property Website Click Here
Number of Bedrooms: 14
Number of Bathrooms: 0
Address: 3623 Monon St, Los Angeles, CA 90027, USA
Provided by:

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