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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 3,600,000

Est. payment -/mo

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1860 N Alexandria AVE Los Angeles, CA 90027

12 Beds

16 Baths

9,920 SqFt

UPDATED:

11/01/2024 03:12 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,920 sqft

Price per Sqft $362

MLS Listing ID 24456523

Bedrooms 12

HOA Y/N No

Year Built 1951

Lot Size 10,497 Sqft

Property Description

1860 North Alexandria Avenue is being offered for sale for the first time in nearly 50 years. The offering is located within the Hollywood submarket, considered one of the country's world-class employment centers and offers access to an enormous and diverse set of employers. This 16-unit garden-style apartment community is situated on the southeast corner of Franklin Avenue and Alexandria Avenue within the highly coveted Los Feliz zip code of 90027. The immediate area has historically provided investors with exceptional long-term capital appreciation and wealth preservation.1860 North Alexandria Avenue, built in 1951, features an ideal unit composition of Twelve (12) One-Bedroom | One-Bathroom and Four (4) Single | One-Bathroom apartment homes surrounding a quiet gated courtyard with mature landscaping. The oversized corner parcel measures 10,494 square feet. Updated unit interiors feature original oak flooring, tiled baths and kitchens, wooden windows, refrigerator, stove, dishwasher, and abundant closets/storage. The property demonstrates genuine pride of ownership, with multiple capital improvements made, specifically new plumbing, including replacing horizontal lines and risers, which was completed in 2010. The mandatory soft-story retrofit was completed in 2019, new handrails were installed on the staircases and walkways in 2021, and gas shut-off valves were installed in 2019. Property attributes include 12 vehicle parking spaces (6 individual garages and 6 on-grade spaces), a common area laundry room, separate gas & electrical utilities, and one central hot-water tank. The offering is ideal for forward-thinking, long-term investors expecting meaningful rental growth/value appreciation in an outstanding area. 1860 North Alexandria Avenue is centrally located in the 90027 / Los Feliz area, one of LA's most stable and desirable neighborhoods. Furthermore, the subject property offers residents access to various entertainment venues, cultural destinations, and dining options within Los Feliz itself and neighboring Silver Lake, Hollywood, and DTLA.

Location

State CA

County Los Angeles

Area 637 - Los Feliz

Zoning LARD1.5

Interior

Fireplace No

Exterior

Garage Covered, Uncovered

Parking Type Covered, Uncovered

Total Parking Spaces 12

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5589033042

Special Listing Condition Standard

Listed by Nick Astrupgaard • KW Commercial Studio City

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

1860 N Alexandria AVE Los Angeles, CA 90027

Key Details

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1860 N Alexandria AVE