3359 Rowena Avenue

Los Angeles, CA 90027

$4,000,000
Last Sold Price
16
Beds
12
Baths
9,456 Sq. Ft.
$423 / Sq. Ft.
9,456
Sq. Ft.
$423
per Sq. Ft.

Description

We are proud to present 3359 Rowena Avenue, a 2-story, 12-unit, value-add investment opportunity. Built in 1953 and located on an ultra-prime block in the highly desirable Los Feliz submarket of Los Angeles (south of Los Feliz Boulevard and west of Griffith Park Boulevard), this property has a 67%+ rental upside potential. The unit mix is 8 (1+1), 4 (2+1) units that average approximately 825+ gross square feet. The building's units are bright, spacious, and feature ORIGINAL tile, hardwood floors,...We are proud to present 3359 Rowena Avenue, a 2-story, 12-unit, value-add investment opportunity. Built in 1953 and located on an ultra-prime block in the highly desirable Los Feliz submarket of Los Angeles (south of Los Feliz Boulevard and west of Griffith Park Boulevard), this property has a 67%+ rental upside potential. The unit mix is 8 (1+1), 4 (2+1) units that average approximately 825+ gross square feet. The building's units are bright, spacious, and feature ORIGINAL tile, hardwood floors, solid wood kitchen cabinets (with Art Deco accents), and crown molding in the living rooms. The 2-bedroom units' bathrooms enjoy separate bathtubs and stall showers. The property is separately metered for gas and electric, and each unit contains its own water heater. The property's location offers residents effortless access to countless shopping, dining, entertainment, and recreation options of Los Feliz, Sunset Junction, Silver Lake, Atwater Village, and Downtown Los Angeles. The building is 0.65 miles west of the 5 freeway, 1.5 miles north of the 2, 2.2 miles northeast of the 101 and 3.7 miles northwest of the 110. 3359 Rowena Avenue is well-positioned for an investor to implement a high-end unit/common area renovation program optimizing top-of-the-market rents, appreciation, and future cash flow.
  1. Listed by Matthew R. Kanner • DRE #01349203 • Brokerage DRE #01269474 • Keller Williams Realty Los Feliz

Property Details for 3359 Rowena Avenue

Zoning
LARD1.5-1XL
Parcel Number
5434004002
Total Units
12.0
Living Area
9456
Source Living Area
Vendor Enhanced
Area
Los Feliz (637)
Vacancy Rate
1
Lot Size Area
11781

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Sold By Skylight Real Estate Advisors, Inc., Zachary Freehling, DRE #01879326

Add your commute
LISTING UPDATED: 12/23/2022 04:14 PM

Property Details for 3359 Rowena Avenue

StatusSold
MLS #22-141049
Days on Market216
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.27 AC / 11,781 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Sold By Skylight Real Estate Advisors, Inc., Zachary Freehling, DRE #01879326

Add your commute

Building Information for 3359 Rowena Avenue

Stories2Residences-Year Built1953Building Size-Lot Size0.27 AC / 11,781 SF

Payment Calculator

$25,963 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,830

Property Taxes

$4,133

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3359 Rowena Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: (1+1) (2+1)
  • View: Yes
  • View Description: Mountains, City
  • View: Mountain(s), City Lights
  • Direction Faces: South
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $254,732
  • Net Operating Income: $163,615.00
  • Gross Income: $262,536
  • Cap Rate: 3.87%
  • Gross Rent Multiplier: $16.09
  • Owner Pays: Water
  • Total Annual Expense: 91117
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2705
  • Lot Size Square Feet: 11781
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 10
  • Covered Parking: 6
  • Open Other Spaces Total: 4
  • Parking Features: Carport
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood
  • Equipment: Refrigerator, Range/Oven
  • Interior Features: Crown Moldings
  • Room Bathroom Features: Shower
  • Bathroom Features: Shower Over Tub, Shower Stall
  • Laundry: Community
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • Patio Features: Balcony
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-29-2022
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,553.00
  • Unit Actual Rent: $12,421.00
  • Unit Projected Rent: $23,200.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,314.00
  • Unit Actual Rent: $9,258.00
  • Unit Projected Rent: $13,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $832,521.00
  • Assessed Improvement Percent: 54.71
  • Assessed Land Value: $689,219.00
  • Assessed Land Percent: 45.29
  • Assessed Total Value: $1,521,740.00

Property History for 3359 Rowena Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3359 Rowena Avenue

Taxable ValueLand$2,800,000Additions$1,200,840Total$4,000,840
Tax Record2023$49,601 ($4,133 / month)
Home Facts
Total Finished SqFt9,456 SqFtAbove Grade Finished SqFt9,456 SqFtLot Size11,781 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLARD1.5CountyLOS ANGELESAPN5434-004-002

Schools near 3359 Rowena Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - K to 2
Rating
School
Distance
Franklin Avenue Elementary School
PublicK to 6

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Lexington Avenue Primary Center
PublicK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.