1651 Vineyard Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90019
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,059 sqft
Price per Sqft $181
MLS Listing ID 25544861
Year Built 1965
Lot Size 6,998 Sqft
Acres 0.1607
Property Sub-Type Multi-Family
Property Description
1651 Vineyard Avenue is a multifamily property constructed in 1965 on a 6,998square foot lot, with a total building size of 4,346 square foot. The propertyfeatures a well-maintained structure with controlled access and is separatelymetered for utilities.The property boasts an attractive unit mix of 5 two-bedroom/one-bathroomand 1 one-bedroom/one-bathroom unit. While the current management hasmaintained the property diligently, many tenants are long-term residents, andcurrent rents are approximately 77% on average below market rates. A newowner can capitalize on this opportunity by adjusting rents to market levelsupon vacancies and implementing targeted renovations to further increase revenue potential. Situated in a thriving neighborhood, 1651 Vineyard Avenue is within closeproximity to a variety of local amenities, including shopping centers,restaurants, parks, and entertainment venues. Given the property's strong fundamentalssuch as its favorable unit mix, solidconstruction, and exceptional location1651 Vineyard Avenue represents acompelling investment opportunity for those seeking growth, stability, and ahedge against inflation in the vibrant Los Angeles market.
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning RD 1.5-1-O
Rooms
Other Rooms None
Interior
Heating None
Cooling Wall Unit(s)
Equipment None
Laundry None
Exterior
Parking Features None
Garage Spaces 6.0
Pool None
Roof Type Flat
Building
Story 1
Sewer Public Hookup Available
Water Public
Level or Stories One
Others
Special Listing Condition Standard