347 North Genesee Avenue

Los Angeles, CA 90036

$2,275,000
Price
7
Beds
6
Baths
5,935 Sq. Ft.
$383 / Sq. Ft.
5,935
Sq. Ft.
$383
per Sq. Ft.

Description

347-349 Genesee offers a compelling investment opportunity with strong fundamentals, situated in the heart of the Fairfax District. Incredibly located steps away from Beverly Blvd and a short walk to The Grove, residents enjoy convenient access to an array of daily errands, retail stores, restaurants, and entertainment venues. From iconic landmarks such as the Farmers Market and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental...347-349 Genesee offers a compelling investment opportunity with strong fundamentals, situated in the heart of the Fairfax District. Incredibly located steps away from Beverly Blvd and a short walk to The Grove, residents enjoy convenient access to an array of daily errands, retail stores, restaurants, and entertainment venues. From iconic landmarks such as the Farmers Market and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. This prime location boasts exceptional walkability, allowing tenants to revel in the freedom to stroll to nearby attractions. This fosters a sense of community and reduces reliance on transportation, ultimately translating to higher tenant retention rates and enhanced property desirability. The Fairfax District also boasts a robust average household income of nearly $126K within a one-mile radius, reflecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations. Altogether, 347-349 Genesee is an attractive investment, offering a blend of prime location, strong financial metrics, and desirable tenant demographics.
  1. Listed by Saadia 'Sam' Liberow • DRE #01933858 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 347 North Genesee Avenue

Zoning
LARD1.5
Parcel Number
5527039012
Total Units
4.0
Living Area
5935
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
4409
Lot Size Area
6377
LISTING UPDATED: 09/13/2024 04:16 PM

Property Details for 347 North Genesee Avenue

StatusActive
MLS #24-400507
Days on Market105
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.15 AC / 6,377 SF
CountyLos Angeles County

Building Information for 347 North Genesee Avenue

Stories2Residences-Year Built1928Building Size-Lot Size0.15 AC / 6,377 SF

Property Information for 347 North Genesee Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $170,335
  • Net Operating Income: $121,925.00
  • Gross Income: $142,543
  • Cap Rate: 5.36%
  • Gross Rent Multiplier: $1,302.00
  • Actual Annual Gross Rent: $146,952.00
  • Vacancy Allow Dollar: $4,409.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 48410
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1464
  • Lot Size Square Feet: 6377
Parking Details
Parking Details
  • Parking Garage: Uncovered, Garage Is Detached
  • Total Parking: 8
  • Parking Features: Uncovered
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-07-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,756.00
  • Unit Actual Rent: $2,756.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,995.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $2,495.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,000.00
  • Unit Actual Rent: $4,000.00
  • Unit Projected Rent: $4,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $407,168.00
  • Assessed Improvement Percent: 54.84
  • Assessed Land Value: $335,306.00
  • Assessed Land Percent: 45.16
  • Assessed Total Value: $742,474.00

Property History for 347 North Genesee 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 347 North Genesee Avenue

Taxable ValueLand$342,012Additions$415,551Total$757,563
Tax Record2023$10,054 ($838 / month)
Home Facts
Total Finished SqFt5,935 SqFtAbove Grade Finished SqFt5,935 SqFtLot Size6,375 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLARD1.5CountyLOS ANGELESAPN5527-039-012

Schools near 347 North Genesee Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Laurel Elementary School
PublicK to 8

Fairfax Senior High School
Public9 to 12

Whitman Continuation School
Public9 to 12

West Hollywood Opportunity School
Public7 to 12

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.

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347 North Genesee Avenue is a multi-family home for sale in Los Angeles, CA 90036. This property was listed for sale on June 7, 2024 by Marcus & Millichap, it's currently listed at $2,275,000. It has been on the market for a total of 105 days and was last sold on June 4, 1996. This listing's school district is Los Angeles Unified School District. Nearby schools include Laurel Elementary School, Fairfax Senior High School and Whitman Continuation School. 347 North Genesee Avenue is a 7-bed, 6-bath, 5,935 sqft multi-family home built in 1928.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Saadia 'Sam' Liberow, DRE #01933858

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.