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Listing Details

Status
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On Site
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On Market
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MLS #
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Neighborhood
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Type
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Built
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School Ratings & Info

Description

4603 La Mirada Ave & 1255 Lyman Pl is a 9 Unit property located in the heart of East Hollywood directly across the street from the Ronald McDonald House and walking distance to Hollywood Presbyterian Hospital & Childrens Hospital (CHLA). This investment offers an owner occupier, investor, or experienced developer a chance to achieve the highest & best use for this corner lot in a highly dense rental market. The property is comprised of two parcels totaling 5,082 SF building size with 3 units in the front and a 6 unit building in the back thats all 1bd/ 1bath. And with a large detached garage and ample parking, there is potential for an ADU conversion. The entire property will be sold together, allowing a new owner to collect rents while working through potential entitlement plans. The buildings were originally built in 1922 & 1953 and sits on a total corner lot size of 12,851 SF for future development potential. Amazing Location in East Hollywood directly across the street from Ronald McDonald House, walking distance to Hollywood Presbyterian, Childrens Hospital, Kaiser Permanente Sunset, Barnsdall Park, Metro Station, and near Los Feliz, Sunset Junction, Virgil Village, Little Armenia, Thai Town, Griffith Park, Trendy Restaurants & Shops. 1st Time on Market in 45+ Years!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T15:29:53.277. 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 Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/119739869
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1255 Lyman Place Los Angeles (City), CA 90029

  • Price: $3,995,000
  • Status: Active
  • Updated: 42 min ago
  • ID#: OC21137070
0
Beds
0
Baths
0
½ Baths
0.3
Acres
1953
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
4603 La Mirada Ave & 1255 Lyman Pl is a 9 Unit property located in the heart of East Hollywood directly across the street from the Ronald McDonald House and walking distance to Hollywood Presbyterian Hospital & Childrens Hospital (CHLA). This investment offers an owner occupier, investor, or experienced developer a chance to achieve the highest & best use for this corner lot in a highly dense rental market. The property is comprised of two parcels totaling 5,082 SF building size with 3 units in the front and a 6 unit building in the back thats all 1bd/ 1bath. And with a large detached garage and ample parking, there is potential for an ADU conversion. The entire property will be sold together, allowing a new owner to collect rents while working through potential entitlement plans. The buildings were originally built in 1922 & 1953 and sits on a total corner lot size of 12,851 SF for future development potential. Amazing Location in East Hollywood directly across the street from Ronald McDonald House, walking distance to Hollywood Presbyterian, Childrens Hospital, Kaiser Permanente Sunset, Barnsdall Park, Metro Station, and near Los Feliz, Sunset Junction, Virgil Village, Little Armenia, Thai Town, Griffith Park, Trendy Restaurants & Shops. 1st Time on Market in 45+ Years!
Exterior Features

Lot Features 6-10 Units/AcreCorner Lot Number Of Separate Electric Meters 9 Open Parking Spaces 8 Parking Features AssignedDrivewayGaragePavedUncovered Parking Total 10 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Appliances Gas RangeWater Heater Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features DecorativeLiving Room Fireplace YN Yes Flooring TileWood Heating Floor Furnace Heating YN Yes Interior Features Beamed CeilingsTile Counters Window Features Bay Window(S)

Property Features

Additional Parcels YN Yes Cap Rate 4.7 Common Interest Community Apartment Community Features CurbsSidewalks Garage YN Yes Gross Income 262800 Gross Scheduled Income 262800 Insurance Expense 0 Land Lease YN No Laundry Features Washer HookupGas Dryer Hookup Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 Exchange Net Operating Income 188295 New Construction YN No Number Of Separate Gas Meters 9 Number Of Separate Water Meters 2 Number Of Units Leased 0 Operating Expense 66621 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Total Actual Rent 0 Trash Expense 0 Utilities Electricity AvailableNatural Gas AvailableSewer AvailableWater Available Water Sewer Expense 0 Water Source Public Zoning Lard1.5

Listing provided courtesy of Brian Noh of Nohco Real Estate


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T15:29:53.277. 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 Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
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Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505