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428 N Genesee Avenue, Los Angeles, CA 90036$1,849,000

6
beds
--
bath
4113
ft2
· 6150
ft2 lot
$450 / ft2

Listing provided courtesy of Saadia Liberow, Marcus & Millichap
Source CRMLS;
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We are pleased to present 428 North Genesee Avenue, a true pride of ownership 4-unit apartment building located in one of the most sought-after and trendy neighborhoods Miracle Mile, California. This is an excellent owner/user opportunity as 1 unit will be delivered vacant at the close of escrow. Built in 1938, this property consists of two (2) one-bedroom/one-bathroom units and two (2) two-bedroom/one-bathroom units. This property provides an investor a tremendous value add opportunity as current rents are approximately 15% below market. The building is 4,113 square feet and sits on a 6,150 square foot lot that is LARD1.5 zoned. The property features four (4) separate enclosed garage parking spaces for its residents.428 North Genesee Avenue has a Walk Score of 93 as it is just a few blocks from trendy boutique retail, restaurants, and cafes along Melrose Avenue. The property is also a short walk from The Grove shopping center which famously features high-end retail and world-class dining options. Centrally located, the property is just a short drive from dining, retail, and entertainment options nearby Beverly Hills, West Hollywood, and Hollywood Boulevard. 428 North Genesee Avenue is conveniently located near the 10 and 101 freeways providing easy access to the Westside/Beach Cities, San Fernando Valley, Downtown LA, and beyond.

HOA

No HOA

On market

3 months

Year built

1938

Property type

Multi-Family

Parking

MLS

22219347

Price / Sq.Ft.

$450 / ft2

Status

Active Under Contract

Buyer’s Brokerage Commission

2%

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Home details for 428 N Genesee Avenue

Interior Features & Layout
Bathrooms Info
•   
Total Bathrooms: 4
Property, Lot, Community & Exterior Features
Multi-Unit Info
•   
Number Of Units Total: 4
Community Info
•   
Number Of Buildings: 3
Lot Info
•   
Zoning Type: LARD1.5
•   
Lot Size Area: 6150.0
•   
Acres: 0.1412
•   
Lot Size Units: Square Feet
Parking Info
•   
Parking Spaces: 0.0
Building Info
•   
Total Sq. Ft.: 4113.0
•   
MLS Property Type: Residential Income
•   
Number of Stories: 2
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Income: 114828.0
Lease Info
•   
Net Operating Income: 80220.0
Listing Details
•   
Status: Active Under Contract
•   
Originating System Name: CRMLS
Tax/Assessment Info
•   
APN: 5527027025
School Neighborhood & Directions
Location
•   
Zip Code: 90036
•   
Area: C19 - Beverly Center-Miracle Mile
•   
Zip Code +4: 2247
•   
Directions: Near cross streets Oakwood Ave & N Genesee Ave.
•   
Country: US

Property History for 428 N Genesee Avenue

11/17/2022
11/17/2022
CRMLS #22219347
active
CRMLS #22219347
$1,849,000

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