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1824 S Highland Avenue

Los Angeles, CA 90019
  • $2,199,000
  • STATUS: ACTIVE
  • ON SITE: 19 Days
  • ID#: BB22085738
UPDATED: 205 min ago
$2,199,000
  • 12
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

1824 S Highland Ave is a fully stabilized, pride-of-ownership fourplex located in the rapidly developing Mid-City neighborhood only a few minutes from trendy Downtown Culver City! Two of the units were given a full-scale remodel in 2021 thats on par with new construction! A third unit was lightly remodeled in 2019 and achieved an outstanding rent close to todays market value! With SEPARATE METERS for all utilities (tenants pay all!) and upscale renovations, this is the closest thing youll get to buying a new construction fourplex without having to spend over $3.5 million dollars! Additionally, it is important to note the potential to add one or two ADUs on the property, which would add tremendous value. The units boast spacious, open floor plans, plentiful windows letting in ample natural lighting, real hardwood flooring, washers and dryers in all units, stainless steel kitchen appliances for 2 of the 4 units, and 4 new water heaters (2 are brand new, 2 were installed in the past year or two)! The two upstairs units also get access to a lovely shared balcony. In the rear of the property there are two 2 car-garages (tandem) and 2 surface parking spaces. The current cap rate is an outstanding 4.51% and the pro forma cap rate is 4.94%! With new constructions selling in this hot pocket of Mid-City for over $3 million dollars and renting for over $4,000 for a 3 bedroom, we feel this property will continue to appreciate greatly over time. 1824 S Highland is located less than 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Ba 1824 S Highland Ave is a fully stabilized, pride-of-ownership fourplex located in the rapidly developing Mid-City neighborhood only a few minutes from trendy Downtown Culver City! Two of the units were given a full-scale remodel in 2021 thats on par with new construction! A third unit was lightly remodeled in 2019 and achieved an outstanding rent close to todays market value! With SEPARATE METERS for all utilities (tenants pay all!) and upscale renovations, this is the closest thing youll get to buying a new construction fourplex without having to spend over $3.5 million dollars! Additionally, it is important to note the potential to add one or two ADUs on the property, which would add tremendous value. The units boast spacious, open floor plans, plentiful windows letting in ample natural lighting, real hardwood flooring, washers and dryers in all units, stainless steel kitchen appliances for 2 of the 4 units, and 4 new water heaters (2 are brand new, 2 were installed in the past year or two)! The two upstairs units also get access to a lovely shared balcony. In the rear of the property there are two 2 car-garages (tandem) and 2 surface parking spaces. The current cap rate is an outstanding 4.51% and the pro forma cap rate is 4.94%! With new constructions selling in this hot pocket of Mid-City for over $3 million dollars and renting for over $4,000 for a 3 bedroom, we feel this property will continue to appreciate greatly over time. 1824 S Highland is located less than 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Bakery District, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus District (Whole Foods). This area boasts a huge quantity of entertainment, tech, and creative jobs- ideal for leasing!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
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1824 S Highland Avenue Los Angeles, CA 90019

  • Price: $2,199,000
  • Status: ACTIVE
  • On Site: 19 Days
  • Updated: 205 min ago
  • ID#: BB22085738
12
Beds
0
Baths
0
½ Baths
0.15
Acres
Neighborhood:
Mid-City
County:
Los Angeles
Area:
Los Angeles (90019)
Property Description
1824 S Highland Ave is a fully stabilized, pride-of-ownership fourplex located in the rapidly developing Mid-City neighborhood only a few minutes from trendy Downtown Culver City! Two of the units were given a full-scale remodel in 2021 thats on par with new construction! A third unit was lightly remodeled in 2019 and achieved an outstanding rent close to todays market value! With SEPARATE METERS for all utilities (tenants pay all!) and upscale renovations, this is the closest thing youll get to buying a new construction fourplex without having to spend over $3.5 million dollars! Additionally, it is important to note the potential to add one or two ADUs on the property, which would add tremendous value. The units boast spacious, open floor plans, plentiful windows letting in ample natural lighting, real hardwood flooring, washers and dryers in all units, stainless steel kitchen appliances for 2 of the 4 units, and 4 new water heaters (2 are brand new, 2 were installed in the past year or two)! The two upstairs units also get access to a lovely shared balcony. In the rear of the property there are two 2 car-garages (tandem) and 2 surface parking spaces. The current cap rate is an outstanding 4.51% and the pro forma cap rate is 4.94%! With new constructions selling in this hot pocket of Mid-City for over $3 million dollars and renting for over $4,000 for a 3 bedroom, we feel this property will continue to appreciate greatly over time. 1824 S Highland is located less than 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Ba 1824 S Highland Ave is a fully stabilized, pride-of-ownership fourplex located in the rapidly developing Mid-City neighborhood only a few minutes from trendy Downtown Culver City! Two of the units were given a full-scale remodel in 2021 thats on par with new construction! A third unit was lightly remodeled in 2019 and achieved an outstanding rent close to todays market value! With SEPARATE METERS for all utilities (tenants pay all!) and upscale renovations, this is the closest thing youll get to buying a new construction fourplex without having to spend over $3.5 million dollars! Additionally, it is important to note the potential to add one or two ADUs on the property, which would add tremendous value. The units boast spacious, open floor plans, plentiful windows letting in ample natural lighting, real hardwood flooring, washers and dryers in all units, stainless steel kitchen appliances for 2 of the 4 units, and 4 new water heaters (2 are brand new, 2 were installed in the past year or two)! The two upstairs units also get access to a lovely shared balcony. In the rear of the property there are two 2 car-garages (tandem) and 2 surface parking spaces. The current cap rate is an outstanding 4.51% and the pro forma cap rate is 4.94%! With new constructions selling in this hot pocket of Mid-City for over $3 million dollars and renting for over $4,000 for a 3 bedroom, we feel this property will continue to appreciate greatly over time. 1824 S Highland is located less than 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Bakery District, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus District (Whole Foods). This area boasts a huge quantity of entertainment, tech, and creative jobs- ideal for leasing!
Exterior Features

Parking Garage Desc Unit1 Assigned Pool N/K Site Sidewalks Spa N/K Units With Patios 1

Interior Features

Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 2 Total Baths Unit4 2 Units With Refrigerators 4 Units With Washers 4

Property Features

Actual Cap Rate 4.51 Annual Expense Actual 29526 Buildings 1 Cfd Mello Roos Fee 635.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 16.4 Gross Scheduled Income Actual 134088 Home Owners Fees 0.0 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 3200.0 Unit2 Rent Actual 3000.0 Unit3 Rent Actual 2778.0 Unit4 Rent Actual 2196.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of The 2-4 Unit Specialists. Listing information © 2022 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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