$ 2,995,000
712 S Stanley Avenue Los Angeles, CA 90036
Schedule a Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,995,000
Est. payment /mo
Active
712 S Stanley Avenue Los Angeles, CA 90036
10 Beds
6,950 SqFt
UPDATED:
10/14/2024 08:14 PM
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 6,950 sqft
Price per Sqft $430
MLS Listing ID CL24418383
Bedrooms 10
HOA Y/N No
Year Built 1928
Lot Size 6,965 Sqft
Acres 0.16
Property Description
We are excited to present a unique opportunity to purchase 712 S Stanley Ave, a fully vacant 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles. Constructed in the 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 6,950 and is situated on a 0.16-acre (6,963 sq ft) lot. This property includes two spacious 2-bedroom, 2-bathroom units each approximately 1,350 sq ft and two very large 3-bedroom, 2-bathroom units, each approximately 1,950 sq ft. A key highlight is the full vacancy of the property upon purchase, allowing for immediate renovations and leasing, thereby enabling investors to realize the property's full income potential after their renovation is completed. This is particularly significant as the property falls under LA's rent control ordinance (RSO), which would restrict renovation activities until existing tenants vacate the premises. A great value-add strategy to consider is adding bedrooms and/or bathrooms to each of these oversized units. Depending on the floor plan and buyer's vision, it's very feasible to transform the 2 bed units into 3 bed units, and the 3 bed units into 4 bed units, without having to add any square footage. The asset benefits from its desig
Location
State CA
County Los Angeles
Area Listing
Zoning LAC2
Interior
Heating Central
Fireplace No
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5089010023
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Vangelis Korasidis • Coldwell Banker Realty