NOT LISTED FOR SALE
22 Beds
20 Baths
13,804 Sq Ft
0.3 Acres

Last Sold July 05, 2023

Last sale price $4,890,000 $354 Per Sq Ft

66 Days on Market

About This Home

As of July 2023

NEW PRICING!!! We are thrilled to present an extraordinary investment opportunity in the heart of prime West LA on Greenfield Ave. Boasting an extra-large 13,242 SF lot, this multi-family property features 14 units within a 13,804 SF building, offering a superb unit mix of spacious one, two, and three-bedroom layouts to generate substantial rental income for investors. Originally constructed in 1965, this property is being delivered 100% vacant, offering the perfect opportunity for value-add investors to renovate and improve the units to unlock their full potential. With the five-year Ellis Act expiration date in December 2023, investors have the opportunity to re-occupy at market rental rates, allowing them to maximize their return on investment and generate long-term income streams.Located in the heart of West LA, this property offers easy access to a wide range of amenities. Tenants can take a stroll to Sawtelle Blvd, where you'll find an array of trendy shops, restaurants, and cafes, offering some of the city's finest cuisine. Experience the thriving culinary scene at night markets or relax and watch a movie at the nearby Landmark Theater. Conveniently located near public transportation and major highways, this property provides easy access to everything that the city has to offer. Enjoy quick access to the 405 and 10 freeways, which take you to popular destinations such as Santa Monica, Culver City, and Downtown LA. Investors can take advantage of the property's strategic location just 2 miles south of the UCLA campus and maximize their return on investment by capitalizing on the tremendous West LA rental demand. This exceptional property presents a rare and lucrative opportunity for investors to own a prime West LA investment property, combining an excellent location and the potential for significant returns. With its vacant status and the upcoming Ellis Act expiration date, this property is a diamond in the rough, waiting to be polished and transformed into an outstanding investment opportunity. Don't miss out on this unique chance to own a prime piece of West LA real estate!

Last Agent to Sell the Property

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644 Listed on: 04/25/2023

Co-Listed By

Don Favia

Realty Investment Advisors, Inc. License #01841258

Last Buyer's Agent

Don Favia

Realty Investment Advisors, Inc. License #01841258

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.3 Acre Lot

Interior Spaces

  • 13,804 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 20 Bathrooms

Parking

  • 20 Parking Spaces
  • Carport
  • Tandem Parking

Community Details

  • 14 Units

Listing and Financial Details

  • Assessor Parcel Number 4323-013-044

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 13804
  • Lot Acreage: 0.3039
  • Stories: 2
  • Year Built: 1963
  • Number Of Photos: 6
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 22
  • Total Bathrooms: 20.00
  • Price Per S Q F T: 434.66

Exterior Features

  • Other Structures: None

Garage/Parking

  • Covered Parking: 20
  • Parking Garage: Carport, Tandem
  • Total Parking: 20

Lot Info

  • Assessed Improvement Percent: 28.69
  • Assessed Improvement Value: 1759675
  • Assessed Land Percent: 71.31
  • Assessed Land Value: 4374584
  • Total Assessed Value: 6134259
  • Assessor Parcel Number: 4323-013-044
  • Lot Size Area: 13242

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.57
  • Number Of Units: 14
  • Total Annual Expense: 133243
  • Type Of Units: Apartments
  • Vacancy Rate: 100%

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/05/2023 07/05/23 Sold $4,890,000 -18.5% $354 / Sq Ft
06/30/2023 06/30/23 Pending -- -- --
05/24/2023 05/24/23 Price Changed $6,000,000 -11.8% $435 / Sq Ft
04/25/2023 04/25/23 For Sale $6,800,000 -- $493 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-258747

The MLS