Perfect for an onwer-user – 4bd/2ba home plus 4 units in back (Mar Vista) $2800000 3844ft2

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Oron Mahershow contact info

License# 01299092


Multifamily Property For Sale

12757 Matteson Ave

12757 Matteson Ave, Los Angeles, CA 90066

Price: $2,800,000
No. Units: 5
Building Size: 3,844 SF
Price/Unit: $560,000
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
Property Use Type: Investment
Commission Split: 2.5%
Cap Rate: 3.97%
Gross Rent Multiplier: 18.50
Occupancy: 60%
No. Stories: 2
Year Built: 1962
Lot Size: 7,101 SF
APN / Parcel ID: 4236-017-021
Last Verified: 9/20/2017
Listing ID: 20490156


Highlights

  • Perfect for owner-user or investor
  • Two immaculately remodeled units delivered vacant at the Close of Escrow
  • Located in the heart of Mar Vista, just east of Venice Beach
  • Close to shopping, trendy Washington Blvd restaurants, freeways, LAX, Abbot Kinney, more
  • Opportunity to rehab and add additional value/income
  • Approximately 32% upside in rents

Description

Perfect for an owner-user or investor, with over 32% upside in rents, 12757 Matteson Ave consists of two buildings with five total units. In front is a 4-bed/2-bath house with tandem parking for 2 cars, accessed from Matteson Ave. The rear building features four 2-bed/1-bath units and four parking spaces, accessed from the alley. Two units in the rear building will be delivered vacant at the close of escrow, one of which has been immaculately remodeled. The two buildings are separated by a courtyard with a BBQ area and separate seating area. An owner can add a partition to the front house to create privacy from the back units. Many units have updates but there is opportunity to rehab the front house or add a second story to add tremendous upside in rents.
The property is zoned R3, so a second story can maybe potentially be added to the front house per zoning (seller makes no warranty).

12757 Matteson is well located near the creative & tech hubs of Venice & Playa Vista, Venice Beach, Abbot Kinney, & the 405. The tech hub of “Silicon Beach” – one of the top three in the world – houses Snapchat, Google, Apple (coming soon), & YouTube, to name a few. Also nearby is Abbot Kinney, one of the trendiest retail corridors in LA featuring high-end shopping (Burro, Warby Parker, Aesop) and popular restaurants (Gjelina, The Tasting Table, The Brig), galleries (De Soto Gallery, G2 Gallery) and more. World famous Venice Beach is directly down the road to the west. A popular destination for locals & tourists, the property’s location is sure to be attractive to potential renters and in high demand. Popular Venice Beach locales include the boardwalk, Muscle Beach, handball, basketball, beach volleyball, & paddle tennis courts, Skate Dancing plaza, & the bike path. This property is in the heart of the Mar Vista “micro-hood” on Venice Blvd. Featuring plenty of window shopping, eateries, & the Mar Vista Farmers Market. Joining neighborhood staples like Sam Johnson’s bookshop,are new popular restaurants like The Mar Vista making it the perfect location for LA’s next hot neighborhood.


Oron Mahershow contact info

License# 01299092


The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

CJ6DL9M

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