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Buy a propertyat 1163 N VAN NESS Avenue, Los Angeles, CA 90038

$2,250,000

$0/mo

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Multifamily

4,992 Sq. Ft.

7,451 Sq. Ft. lot

8 Bedrooms

0 Bathrooms

804 Days on market

22127239 MLS ID

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About 1163 N VAN NESS Avenue property

This is an Amazing Property, 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!
This is an Amazing Property, 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!

Property details

Bathrooms

10 total bathrooms

Bedrooms

8 total bedrooms

House

2 total stories

Built in 1962

4,992 sqft living area

4992 total building sqft

Contemporary

Heating

Wall Furnace

Income

Gross Income: 251640

Net Operating Income: 218640

Listing

Listing ID: 22127239

512 days on market

Listed on 2022-02-15

Location

County: Los Angeles

Lot

7451 sqft

0.1711 acres

Area: 7451

Corners Marked

Parking

6 total parking spaces

Property

Single building

6 units

Monthly cost

Estimated monthly cost

$14,338/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$2,115,000

+$67,500

$2,182,500

Seller agent commission$67,500 (3%)*

$0 (0%)

Buyer agent commission$67,500 (3%)*

$67,500 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

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with an Unreal Estate agent

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Unreal Estate checked: May 1, 2024 at 6:18 p.m.

Data updated: Jul 14, 2023 at 10:06 a.m.

Property listed by Bruce Jay Associates, Bruce Jay
Based on information from California Regional Multiple Listing Service, Inc. as of 07/14/2023 and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing Information © 2024 California Regional MLS. All Rights Reserved.

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