1629 S Van Ness Avenue, Los Angeles, CA 90019 - Berkshire Hathaway HomeServices California Properties
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1629 S Van Ness Avenue, Los Angeles, CA 90019

$1,895,000 Approx. USD 0 beds, 0 baths

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Listing Agent


Anthony Walker | Anthony.walker@buckinghaminvestments.com
Lic#: 01908153
Broker: Courtesy of Buckingham Investments, Inc

Co Listing Agent


Josh Ess | josh.ess@buckinghaminvestments.com
Lic#: 02035659
Broker: Courtesy of Buckingham Investments, Inc

Agent Remarks

Huge 6 unit property on a large lot in the heart of Mid-City LA, close to everything that LA has to offer, yet on a quiet residential street. The building has an excellent mix consisting of four 2 bedroom units, one 1 bedroom unit, and an enormous 4 bed, 2.5 bath two story owner's unit with a private patio. There are over 6400 square feet of rentable space on an 8000 square foot lot with parking for 6 cars in the rear plus a single car garage and one space in the front. The property is well priced on actual rents at 12.1X GRM plus a healthy 27% upside to income for a market GRM of 9.6X and a 6.4% cap rate. The building was built in 1960 with recent improvements including exterior paint, a commercial water heater, with new floors and windows in the owner's unit. There are also additional upgrades to finishes, appliances, and windows in select units. The LA required soft story retrofit has been completed, and there is a laundry room on the premises for additional income. The units are all separately metered for gas and electric and there is an opportunity to decrease expenses through implementation of RUBS program for water, sewer, and trash. Tenants enjoy close proximity to a huge variety of entertainment and restaurants in some of the city's hottest neighborhoods including Koreatown, Larchmont Village, Miracle Mile, and Downtown LA. Over 80% of households within 5 miles are renters with an average household income of over $87,000 per CoStar. The location offers great access to the city via the 10 freeway just a few blocks away, and two close metro rail stations.

Listing Details

Property type: Apartment (Multi-Family)
Status: Active
MLS# SB25043892
List price is $1,895,000 Reduced by $55,000 on 4/8/2025
Price: $1,895,000
HOA Fee is $0.00
Beds: 0
Baths: 0
None fireplaces
Built in 1960
2 stories
0.19 acres
Lot size: 0.1851
County: Los Angeles
Property style: Mid-Century Modern
Zoning: LARD2
Construction: Stucco
Appliances: Gas Range
Parking description: Attached Carport,Garage Faces Front
Lot description: Rectangular Lot
Heating/cooling: None
Heating description: Forced Air,Wall Furnace
MLS area: C16 - Mid Los Angeles

Last Updated: 4/29/2025

 Days On Market (DOM): 68

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This listing belongs to the C16 - Mid Los Angeles MLS area

The style of this listing is Mid-Century Modern.
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Lat/Long: 34.042647, -118.316762.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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