11969 Iowa Ave

Los Angeles, CA, 90025

$3,695,000

$530 per ft²
$3,695,000
$530 per ft²
Active
Active
 - For Sale
beds
14 Beds
baths
11 Baths
carpenters-square
6,962 ft²
property_type
Multi-family
calendar
Built 1962
We are pleased to present the opportunity to purchase a 9-unit apartment building located at 11969 Iowa Ave, in the City of Los Angeles, California, 90025. This prime West Los Angeles property consists of an excellent unit mix of 2 spacious singles, 1 one-bedroom one-bathroom unit, 3 two-bedroom one-bathroom units, 2 two-bedroom two-bathroom units, & 1 three-bedroom two-bathroom unit, and more recent policy changes allow for 2 additional ADUs to be built in existing parking spaces. This building was erected in 1962 of wood-frame and stucco construction. The building is 2-stories with covered parking spaces on-site. This charming apartment complex is situated on a quiet street in a beautiful West LA neighborhood. 6,962 sq. ft. of improvements are situated on 7,444 sq. ft. of land located near the corner of Bundy Drive and Santa Monica Boulevard. Each unit is separately metered for gas and electricity. This asset offers an investor the opportunity to purchase a well-maintained, well-located asset with exceptional upside potential. For an investor focused on value-add, this is an ideal investment, especially given its ADU potential. The average size of each unit is approximately 773 sq ft. The current average rent is only $1,583, with market rents at $2,900 on an average, assuming future renovations. A new investor can capitalize on the tight rental market and high rents in this neighborhood by implementing a strategic unit interior renovation plan, which will command top of the market rents.
MLS® ID:
22-185941
Listed:
8/1/22
Updated:
8/20/22

Interior Features

Total Bedrooms
14
Total Bathrooms
11
Laundry Description
Room
Cooling
None
Heating
Central

Exterior/Building Features

Lot Size
7,444 ft² lot

Other Property Details

Garage
No
Parking
Covered Parking
Parking Total
8.0
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LAR3

 

Courtesy of Arthur Arejian, Arthur Arejian, Broker

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Diana Braun shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 8/20/22

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