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3844 Evans Street

Los Angeles (City), CA 90027
  • $4,195,000
  • STATUS: Active Under Contract
  • ON SITE: 91 Days
  • ID#: 22172485
Under Contract
UPDATED: 39 min ago
$4,195,000
  • 18
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,736
    SQFT
  • $391
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1952
County:

School Ratings & Info

Listing Agent(s): Horace Davenport of Keller Williams Larchmont (323-762-2600) and Steven Senigram of ()


Description

Back on Market! Here's the second bite at the apple you've been asking for. Even sweeter now with a new price and a 2nd unit that will be delivered vacant!! Enviably located in the Los Feliz 90027 zipcode yet just a block from Silverlake. Sited on a sprawling lot nearly half an acre in size this 12 unit gem is on the market for the first time in almost 50 years! Verdant, truly "park-like", grounds and stunning views make tenancy here a highly desirable "get" in what is already a super high demand rental area of the city. 2 blocks to the 10 acre "secret" park at the Rowena Reservoir. Walking distance to Gelsons, Trader Joes and all of the great restaurants along Hyperion this property is spectacularly located, convenient to major freeways including the 5, 110, 101 and 2 putting Pasadena, Downtown LA and all of the Valley in easy reach. Built in 1952, all units are graciously proportioned and even include separate service entrances at the kitchen in addition to the front door. It's true, "they don't make them like they used to." Though the income as is, is compelling in itself, let alone the significant upside potential as units become vacant, the enormous 20,000 square foot lot virtually begs exploration and consideration of development opportunitiies. But wait!... for the development-minded Buyer a neighboring 10,000 square foot lot could also be purchased and joined with this one to make a 30,000 square foot parcel or developed on it's own as a small lot subdivision with the possibility of building 6 or 7 townhouse style homes on that single lot. A $1.8M loan is in place and assumable at 4.1% through November of 2024 for a qualified Buyer. That's pretty cheap money right now that could free up cash for significant capital improvements or development plans. 6-2bedroom/1 bath units and 6-1 bedroom/1 bath units. Property will be delivered with 2 vacant units! Completely fenced and gated for security and privacy. On site laundry. 6 - 2 car garages in 3 separate structures including one built with a steel I-beam supporting the roof, which is noted on the architectural plans for the building as a "deck". Copper re-pipe. Drive-by only for now. Make offer subject to interior inspection.., but don't hesitate!! Call with questions.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-10-05T11:31:12.59. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
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3844 Evans Street Los Angeles (City), CA 90027

  • Price: $4,195,000
  • Status: Active Under Contract
  • On Site: 91 Days
  • Updated: 39 min ago
  • ID#: 22172485
18
Beds
0
Baths
0
½ Baths
0.45
Acres
10,736
SQFT
$391
$/SQFT
1952
Built
Neighborhood:
637 - Los Feliz
County:
Los Angeles
Area:
637 - Los Feliz
Property Description
Back on Market! Here's the second bite at the apple you've been asking for. Even sweeter now with a new price and a 2nd unit that will be delivered vacant!! Enviably located in the Los Feliz 90027 zipcode yet just a block from Silverlake. Sited on a sprawling lot nearly half an acre in size this 12 unit gem is on the market for the first time in almost 50 years! Verdant, truly "park-like", grounds and stunning views make tenancy here a highly desirable "get" in what is already a super high demand rental area of the city. 2 blocks to the 10 acre "secret" park at the Rowena Reservoir. Walking distance to Gelsons, Trader Joes and all of the great restaurants along Hyperion this property is spectacularly located, convenient to major freeways including the 5, 110, 101 and 2 putting Pasadena, Downtown LA and all of the Valley in easy reach. Built in 1952, all units are graciously proportioned and even include separate service entrances at the kitchen in addition to the front door. It's true, "they don't make them like they used to." Though the income as is, is compelling in itself, let alone the significant upside potential as units become vacant, the enormous 20,000 square foot lot virtually begs exploration and consideration of development opportunitiies. But wait!... for the development-minded Buyer a neighboring 10,000 square foot lot could also be purchased and joined with this one to make a 30,000 square foot parcel or developed on it's own as a small lot subdivision with the possibility of building 6 or 7 townhouse style homes on that single lot. A $1.8M loan is in place and assumable at 4.1% through November of 2024 for a qualified Buyer. That's pretty cheap money right now that could free up cash for significant capital improvements or development plans. 6-2bedroom/1 bath units and 6-1 bedroom/1 bath units. Property will be delivered with 2 vacant units! Completely fenced and gated for security and privacy. On site laundry. 6 - 2 car garages in 3 separate structures including one built with a steel I-beam supporting the roof, which is noted on the architectural plans for the building as a "deck". Copper re-pipe. Drive-by only for now. Make offer subject to interior inspection.., but don't hesitate!! Call with questions.
Exterior Features

Architectural Style Traditional Attached Garage YN No Carport YN Yes Other Structures Shed(S) Parking Features Detached CarportGarageGarage Door Opener Parking Total 12 View City LightsHillsMountain(S) View YN Yes

Interior Features

Appliances Refrigerator Cooling None Cooling YN No Flooring CarpetWood Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Buyer Financing AssumedCash Cap Rate 3.5 Garage YN Yes Gross Income 865 Insurance Expense 7360 Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 12507 Net Operating Income 148112 New Construction YN No New Taxes Expense 7436 Senior Community YN No Special Listing Conditions Standard Tenant Pays Association Fees Vacancy Allowance Rate 1 Water Sewer Expense 10207 Zoning Lar2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-10-05T11:31:12.59. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
 
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Beach City Brokers | BCB Premier Estates | The Miller Group
1716 South Catalina Avenue
Redondo Beach CA, 90277
Listing Agent(s): Horace Davenport of Keller Williams Larchmont (323-762-2600) and Steven Senigram of ()