About 650 S La Jolla Ave
650 S La Jolla Avenue is a 10-unit multi-family apartment complex featuring 1,100sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has RTI permits for two 1bd/1bth ADUs through a carport conversion. Upon completion of the ADUs, the property will have a 13x GRM and an in-place 5.4% cap rate, with a 30% upside in existing unit rents. The building features a new 400amp main panel. Each unit is separately metered for electricity and gas.
Features of 650 S La Jolla Ave
| MLS® # | 24-371201 |
|---|---|
| Price | $4,450,000 |
| Bedrooms | 10 |
| Bathrooms | 10.00 |
| Square Footage | 10,858 |
| Acres | 0.29 |
| Year Built | 1928 |
| Type | Residential Income |
| Sub-Type | Apartment Building |
| Status | Active |
Community Information
| Address | 650 S La Jolla Ave |
|---|---|
| Area | Beverly Center-Miracle Mile |
| City | LOS ANGELES |
| County | Los Angeles |
| State | CA |
| Zip Code | 90048 |
Amenities
| Features | Balcony, Double Door Entry |
|---|---|
| Parking Spaces | 10 |
| Garages | Carport |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Wood |
|---|---|
| Appliances | Built-In Gas |
| Heating | Central |
| Cooling | Window Unit(s) |
| Fireplace | No |
| Has Basement | No |
Exterior
| Lot Description | 2-4 Lots |
|---|
Additional Information
| Date Listed | March 26th, 2024 |
|---|---|
| Days on Market | 53 |
| Zoning | LAR3 |
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Adam Kanizo (02008361) |
|---|---|
| Office | Paloma Realty Partners, Inc. |