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PENDING
1714 3rd Avenue, Los Angeles, CA 90019
6
beds
6
baths
3310
ft2
· 5963
ft2 lot
$1,195,000
$361 / ft2
Listing provided courtesy of Sean Rosenzweig, Marcus & Millichap.
Source CRMLS.
I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property has 26% remaining rental upside through unit renovations. The property is priced to an in-place 5.05% CAP rate with remaining upside to a 7.01% CAP and is attractively priced at $199,167 per unit. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional two units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.
HOA
$—/month
On market
2 months
Year built
1907
Property type
Multi-Family
Parking
MLS
21693764
Price / Sq.Ft.
$361 / ft2
Status
Pending
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Flyhomes Cash Offer
Based on a price of $1,195,000
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Negotiating Power:
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$5,975
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$4,400
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$4,400
Average
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Property Details
Interior Features & Layout
Interior Size
•   
Building Area Total: 3310.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Covered
Building Info
•   
Zoning: LARD1.5
•   
Stories Total: 2
Lot Info
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.1300
•   
Lot Size Dimensions: 45x132
•   
Lot Size Area: 5963.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 6
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 91758.00
•   
Vacancy Allowance Rate: 0.00
•   
Total Expenses: 31408.00
•   
Gross Multiplier: 12.63
Tax/Assessment Info
•   
Gross Income: 94596.00
•   
Tax Year: 2020
•   
Taxes: 11021.0
Lease Info
•   
Net Operating Income: 60351.00
Listing Info
•   
Status: Pending
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 1
•   
Unit 3 Actual Rent: 1650.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Bathrooms: 1
•   
Unit 3 Total Rent: 1650.00
Unit 2 Information
•   
Unit 2 Actual Rent: 1650.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 1
•   
Unit 2 Total Rent: 1650.00
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1750.00
•   
Unit 1 Total Rent: 1750.00
Unit 4 Information
•   
Unit 4 Actual Rent: 532.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 532.00
•   
Unit 4 Bathrooms: 1
•   
Unit 4 Bedrooms: 1
Unit 5 Information
•   
Unit 5 Actual Rent: 1650.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 1650.00
•   
Unit 5 Bathrooms: 1
•   
Unit 5 Bedrooms: 1
Multi Unit Information
•   
# Of Units: 13
Unit 6 Information
•   
Unit 6 Actual Rent: 651.00
•   
Unit 6 Total Units: 1
•   
Unit 6 Total Rent: 651.00
•   
Unit 6 Furnished Units: Unfurnished
•   
Unit 6 Bedrooms: 1
•   
Unit 6 Bathrooms: 1
School Neighborhood & Directions
School Info
•   
Directions: The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles.
Other
Calculation
•   
Dom: 50
•   
Cdom: 50
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 11, 2021 2:25am
Neighborhood snapshot
177
Properties for sale
15
Median days on market
$604.19
Median sold price/sqft
99.61%
Sold/List %
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Property History
04/07/2021
04/07/2021
CRMLS #21693764
pending
CRMLS #21693764
$1,195,000
02/16/2021
02/16/2021
CRMLS #21693764
active
CRMLS #21693764
$1,195,000
+8.64%
07/08/2020
07/08/2020
CRMLS #20592280
active
CRMLS #20592280
$1,100,000
+4.76%
06/17/2020
06/17/2020
CRMLS #20592280
active
CRMLS #20592280
$1,050,000
+32.08%
05/22/2017
05/22/2017
Public Record
sold
Public Record
$795,000
+103.85%
See more property history
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