939 W College,Los Angeles, CA 90012
Los Angeles, CA 90012
Description
REDUCED PRICE! PRICED BELOW REPLACEMENT COST. 29-Unit Value-Add Opportunity by DODGER STADIUM w/ Panoramic DTLA Views, High-Upside Asset (±76% Rental Upside), 1972's Construction, Seller May Carry 1st Trust Deed. 939 W College St., a 29-unit value-add apartment community by the Dodger Stadium area, within the Solano Canyon neighborhood. This value-add apartment investment was built in 1972 and offers an excellent location just within walking distance to the Dodger Stadium, Elysian Park, and just minutes away to Downtown Los Angeles, Chinatown, Little Tokyo, and all the shopping and lifestyle options in those areas. The property was solidly constructed with steel and concrete construction and offered at a very low price per unit and low price per square foot for it's location and asset quality. The property is a podium style 4-story apartment that was built in 1972, has a large 22,677 SF building size, and situated on a ±12,171 SF LA-R4 zoned lot. It is a secured building with gated parking, has a central courtyard, shared laundry area (seller own machines), elevator, and covered garage parking. It offers a SUPERB unit mix of three (3) x 3bedroom + 2bathroom, twenty (20) x 2bedroom + 1bathroom, five (5) x 1bedroom + 1bathroom, and one (1) x Studio units. Approximately five (5) of the units have been updated (buyer to verify). Twenty-four (24) units have private balconies/patio with almost each balcony providing an unparalleled view of Downtown Los Angeles and the city. Each unit is separately metered for electricity and gas. All the units have updated electrical subpanels, and the main panels are waiting to be upgraded (pending permit from city). The property has a central water heater, shared laundry room (seller own machines), and an elevator. All the tenants are on month-to-month lease. Parking is secured provided by 29 spaces. The building has an automatic fire sprinkler in the garage area. Located strategically near Dodger Stadium and Elysian Park, this property is nestled in the heart of Los Angeles' vibrant 90012 zip code, boasting excellent walkability with a Walk Score of 85-meaning residents can ditch the car for most errands, errands that include strolling just a stone's throw (under a mile walk) to iconic Dodger Stadium for game-day thrills and Elysian Park for serene green escapes.
Details
| MLS # | AR26143019 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1972 |
| Days On Site | 69 |
| Listing Provided By | Growth Investment Group Pasade | Handoko Chen |
Features
| SQ Feet | 22,677 |
|---|---|
| Garage | 29 |
| Story(s) | 4 |
| Units | 29 |
| Building(s) | 1 |
| Acreage | 0.28 |
| Property View | Yes |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Disposal, Gas Range |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Construction Materials | Concrete |
| Lot Features | Thirty Six To Forty Units Acre, Level, Near Public Transit, Rectangular Lot, Street Level |
| Fencing | Wrought Iron |
Parking
| Parking Features | Assigned |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Suburban |
|---|
Taxes
| Property | 68749 |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90012 |
| Area | CHNA Chinatown |
| Listing VS Median (in 90012) | |
Price: $5,790,000 low | high Med: $530,000 sqft: 22,677 low | high Med: 770 $ / sqft: $255 low | high Med: $688 On site: 69 low | high Med: 13 | |
Market Activity 90012
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90012 |
| Area | CHNA Chinatown |
| Listing VS Median (in 90012) | |
Price: $5,790,000 low | high Med: $530,000 sqft: 22,677 low | high Med: 770 $ / sqft: $255 low | high Med: $688 On site: 69 low | high Med: 13 | |