Address
1163 N VAN NESS Avenue, Los Angeles, CA
Price
$ 2,250,000
Property Attributes
- MLS#22127239
- TypeIncome
- CountyLOS ANGELES
- CityLos Angeles
- AreaHollywood
- Zip90038
- StyleContemporary
- Price$ 2,250,000
- Bedrooms8
- Full Bathrooms10
- Half Bathrooms0
- Sqr Footage4992
- Lot Size7,453 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description
This is an Amazing Investment, 6 Units, On the Corner, 3 Units are held Vacant so the Buyer can rent at Market Rate! The other 3 Units are rented month-to-month. Huge Frontage on Van Ness, a Prime Access Street! And a full Parking Lot as well! Must Drive By! Offering R3-T2 Zoning for future Development! Possibilities may include Adding Multiple ADUs, Or even (someday) maybe Building an Apartment Building (or re-selling to a Cash-Strong Developer that will do so). And IF Purchased with the Home + 2 Units Next Door, on Virginia, this may be a DEVELOPER'S DREAM DEAL, possibly Building 30 Units, or so, while collecting Income during the Planning Stage! Check out the neighboring property IN THE MLS, 5807 Virginia Ave. 90038. Family Area Near Schools & Shopping & Transportation! TWO PARCELS ON THE MARKET 5807 Virginia Ave. 90038, AND 1163 North Van Ness Ave. 90038. The Owner prefers to sell both properties (doesn't matter if different Buyers for each property) that can close Escrow at the same time. Together these properties are a Hard to Find COMBO Double-Lot Development Site in Hollywood! Together the Lot Footage is approximately 15,000 SF! Buy Now - Build Later! Please Email any additional questions or thoughts to the Agent, thank you!
| Price History | |
|---|---|
| 3/12/2023 | Listed $2,250,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| Architectural Style | Contemporary |
| Association Y/N | No |
| Attached Garage | No |
| Buyer Financing | Cash |
| Cap Rate | 5.6 |
| Carport Y/N | No |
| City | Los Angeles |
| County | Los Angeles |
| Days on Market | 544 |
| Directions | BEST TO USE GOOGLE MAPS - NORTH VAN NESS AVE. IS A NORTH-SOUTH STREET WHICH IS WEST OF WILTON PLACE. PROPERTY IS ON THE VERY CORNER OF NORTH VAN NESS AVE. AND VIRGINIA AVE., NORTH OF SANTA MONICA BLVD |
| Facing Direction | East |
| Garage Y/N | No |
| Gross Income | 158196.0 |
| Heating | WallFurnace |
| Home Warranty Y/N | No |
| Land Lease Y/N | No |
| Lease Considered Y/N | No |
| Lease Renewal Y/N | No |
| Lot Size Square Feet | 7451.0 |
| MLS Area | C20 - Hollywood |
| Mobilehomeremainsyn | No |
| Net Operating Income | 125196.0 |
| New Construction | No |
| Private Pool | No |
| Property Attached Y/N | No |
| Property Type | ResidentialIncome |
| Rent Control Y/N | No |
| Senior Community Y/N | No |
| Special Listing Conditions | Standard |
| Standard Status | Active |
| Status | Active |
| Street Name | VAN NESS |
| Total Units | 6 |
| View Y/N | Yes |
| Waterfront Y/N | No |
| Year Built | 1962 |
| Zoning | LAR3 |
Interior Features
| Air Conditioning Y/N | No |
|---|---|
| Basement (Y/N) | No |
| Electric On Property Y/N | No |
| Fireplace Y/N | No |
| Heating Y/N | Yes |
| Street Suffix | Avenue |
| Total Baths | 10 |
| Total Bedrooms | 8 |
| Total Stories | 2 |
Exterior Features
| Living Area | 4992.0 |
|---|---|
| Building Area Total | 4992.0 |
| Crops Included Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
| Lot Features | CornersMarked |
| Lot Size Acres | 0.1711 |
| Lot Size Area | 7451.0 |
| Lot Size Units | SquareFeet |
| Number of Buildings | 1 |
| Open Parking Y/N | No |
| Spa | No |
| Total Parking | 6.0 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Income Average in 90038
Price
Visits
Year Built
Walkscore
Based on information from California Regional Multiple Listing Service, Inc. as of November 30, 2023 5:26 AM UTC 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
