Los Angeles CA  home offered at $2,895,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

346 N Gardner Street
Los Angeles, California CA 90036-5718
Sold For: $2,750,000
Listing ID: 22197861
Price/SqFt: $524.17
Status: Closed
Sold Date: 11/22/2022
SqFt: 5,523 Sq Ft
Acres: 0.140 Acres
Year Built: 1930

We are pleased to present this 4 unit multifamily property located at 346 N Gardner St, Los Angeles, CA 90035. The property is in an excellent Fairfax District location, less than half a mile or a short 8 minute walk from The Grove.Built in 1930, this historic property has a great unit mix of all 2 bed / 1 bath units of approximately 1,380 square feet each. Three of the units are currently vacant and will be delivered vacant, renovated, and rent ready. Each unit has its own laundry room, beautiful French doors, and a private outdoor balcony or patio. Also, the property offers 4 secure garage parking spots in the back which could be converted to an ADU if the Buyer chooses.We received a great loan quote for this property. As of early September 2022, a qualied buyer can get a 3.70% interest only loan with a 40% down payment. With this loan, the buyer for this property will enjoy a great 5.73% cash on cash return after renting out the 3 vacant units. However, interest rates are changing quickly so please reach out to listing agent for an updated loan quote.This property is in an ideal Fairfax District Location. Nestled between West Hollywood and La Brea, Fairfax is best known for its major shopping destination: The Grove. Walk along the famous Melrose Avenue and stop by Pink's Hot Dogs to fully embrace the Los Angeles culture, but make sure to leave plenty of time to explore the other eateries and upscale boutiques that make the neighborhood so iconic. Plan ahead to watch a taping at CBS Television City, stay the night at a chic hotel, and catch the pop-up shops and concerts that frequent The Grove.

Primary Features

County: Los Angeles
Price/SqFt: 524.17
Property Type: Residential Income
Year Built: 1930
Zoning: LARD1.5

Interior

Stories Total: 2

External

Lot Size Area: 6105
Lot Size Square Feet: 6105
Number Of Buildings: 1
Parking: yes
Parking Features: Garage, Covered
Parking Total: 4

Location

Country: US
MLS Area Major: C19 - Beverly Center-Miracle Mile

Additional

Association: no
Co List Agent State License: 01962976
Co List Office State License: 00530854
Days On Market: 27
List Agent State License: 01905352
List Office State License: 00530854
Lot Size Units: Square Feet
New Construction: no
Number Of Units Total: 4
Parcel Number: 5526039010
Senior Community: no

Financial

Cap Rate: 4.51
Gross Multiplier: 15.87
Gross Operating Income: 176928
Net Operating Income: 130675
Special Listing Conditions: Standard
Total Expenses: 46253

Zoning Info


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Listed by: FilipNiculete, DRE #01905352 from Marcus & Millichap 818-212-2700

Contact - Listing ID 22197861

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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