2677 Moss Avenue,Los Angeles, CA 90065
Los Angeles, CA 90065
Description
7 unit (all 2 bed 1 bath) value-add apartment located in Glassell Park, one of the hottest neighborhoods of Los Angeles bordered by Glendale, Silver Lake, Eagle Rock, Highland Park, Cypress Park, Mt. Washington and Atwater Village. Its centralized LA County location provides extended proximity to Hollywood, Koreatown, Downtown LA, Monterey Park, Alhambra and Pasadena. It is a hilly neighborhood with modest homes and fashionable neighbors, serviced by many locally owned eateries, coffee shops and shopping boutiques. Residents are further benefited by public transportation and quick access to the 2 and 5 Freeways. This continually flourishing sub-market coupled with a property generating income well-below market, presents an investor with a considerable opportunity worth seizing. In recent years the owners have spent significant funds in improving the property. In addition, seismic gas shut-off valves and completing soft-story seismic retrofit (permitted 03/2020) was also completed. There are 7 parking spaces equally assigned to each unit. There is a dedicated on-site laundry room, which currently has no machines. Charging for parking and providing laundry machines are opportunities to immediately enhance yield. Additionally, market rents are projected at $2,500 for all the 2BR units after full renovation, which equates to over 200% in rental upside. The property is subject to The City of LA Rent Stabilization Ordinance (RSO).
Details
| MLS # | PTP2607351 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 33 |
| Listing Provided By | Rise Realty | Ani Ginosyan |
Features
| SQ Feet | 5,115 |
|---|---|
| Story(s) | 2 |
| Units | 7 |
| Building(s) | 1 |
| Zoning | R1-1-CDO |
| Acreage | 0.17 |
Interior
| Heating Yes / No | No |
|---|---|
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Front Yard, Landscaped |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90065 |
| Area | 623 Glassel Park |
| Listing VS Median (in 90065) | |
Price: $1,495,000 low | high Med: $999,500 sqft: 5,115 low | high Med: 1,097 $ / sqft: $292 low | high Med: $913 On site: 33 low | high Med: 20.5 | |
Market Activity 90065
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90065 |
| Area | 623 Glassel Park |
| Listing VS Median (in 90065) | |
Price: $1,495,000 low | high Med: $999,500 sqft: 5,115 low | high Med: 1,097 $ / sqft: $292 low | high Med: $913 On site: 33 low | high Med: 20.5 | |
