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Listed by Nick Astrupgaard - DRE #01893466 - KW Commercial Studio City 818-432-1500 Listing Courtesy of: DRE #01432215

$3,600,000

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1860 Alexandria Avenue Los Angeles, CA 90027

Cluster Residence

12 Beds

16 Baths

9,920 Sq. Ft.

0.24 Acre Lot

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Last updated on 11/15/2024 6:26 PM

Listing Details

1860 North Alexandria Avenue is being offered for sale for the first time in nearly 50 years. The offering is located within the Hollywood submarket, considered one of the country's world-class employment centers and offers access to an enormous and diverse set of employers. This 16-unit garden-styl...e apartment community is situated on the southeast corner of Franklin Avenue and Alexandria Avenue within the highly coveted Los Feliz zip code of 90027. The immediate area has historically provided investors with exceptional long-term capital appreciation and wealth preservation.1860 North Alexandria Avenue, built in 1951, features an ideal unit composition of Twelve (12) One-Bedroom One-Bathroom and Four (4) Single One-Bathroom apartment homes surrounding a quiet gated courtyard with mature landscaping. The oversized corner parcel measures 10,494 square feet. Updated unit interiors feature original oak flooring, tiled baths and kitchens, wooden windows, refrigerator, stove, dishwasher, and abundant closets/storage. The property demonstrates genuine pride of ownership, with multiple capital improvements made, specifically new plumbing, including replacing horizontal lines and risers, which was completed in 2010. The mandatory soft-story retrofit was completed in 2019, new handrails were installed on the staircases and walkways in 2021, and gas shut-off valves were installed in 2019. Property attributes include 12 vehicle parking spaces (6 individual garages and 6 on-grade spaces), a common area laundry room, separate gas & electrical utilities, and one central hot-water tank. The offering is ideal for forward-thinking, long-term investors expecting meaningful rental growth/value appreciation in an outstanding area. 1860 North Alexandria Avenue is centrally located in the 90027 / Los Feliz area, one of LA's most stable and desirable neighborhoods. Furthermore, the subject property offers residents access to various entertainment venues, cultural destinations, and dining options within Los Feliz itself and neighboring Silver Lake, Hollywood, and DTLA. Continue reading

MLS#

24456523

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1951

Square Feet

9,920 sq. ft

Lot Size