716 North Van Ness Avenue

Los Angeles, CA 90038

$1,550,000
Price
4
Beds
4
Baths
3,932 Sq. Ft.
$394 / Sq. Ft.
3,932
Sq. Ft.
$394
per Sq. Ft.

Description

Great Location! Four Plex in Prime location just North of Melrose. Zoned LAR3 . There are four 1 bdrm + I bthrm units in the Bldg., plus Two garages with one car parking for each unit. All units are occupied. The Bldg. is approx 6792 sq ft. Walk to stores, restaurants and shops. Tree lined St. with parking. With strong current income and future rental upside potential, this property offers significant value. All units are separately metered for gas and electricity. See DOCS for Rent Roll & Financials....Great Location! Four Plex in Prime location just North of Melrose. Zoned LAR3 . There are four 1 bdrm + I bthrm units in the Bldg., plus Two garages with one car parking for each unit. All units are occupied. The Bldg. is approx 6792 sq ft. Walk to stores, restaurants and shops. Tree lined St. with parking. With strong current income and future rental upside potential, this property offers significant value. All units are separately metered for gas and electricity. See DOCS for Rent Roll & Financials. Tenant occupied property shown by the agent only . Inside with accepted offer. Pls do not disturb the Tenants. Seller is selling this property in its present as-is condition and will not be making repairs or improvements. Financial information is provided by Property Owner and not guaranteed by Agent or Seller. Buyer to confirm financial information and property condition through inspections during escrow. This property is covered by City of Los Angeles Rent Control, Buyer to fully investigate. Agent Most of the 4 units have been updated. Recent upgrades include some plumbing,newer electrical in some units. it's worth noting it's location is close to west Hollywood shopping, the Grove and Holywood. Plenty of upside in current rents. The Bldg. has been managed by its owners. , Priced to sell!.
  1. Listed by Richard M Chernock • DRE #01369553 • Brokerage DRE #01854200 • KW Advisors

Property Details for 716 North Van Ness Avenue

Zoning
LAR3
Style
Architectural
Cross Streets
Van Ness and Melrose
Accessibility Features
None
Parcel Number
5535002003
Total Units
4.0
Living Area
3932
Source Living Area
Vendor Enhanced

Location

Listing Courtesy of KW Advisors, Richard M Chernock, DRE #01369553
Add your commute
LISTING UPDATED: 05/04/2024 12:01 AM

Property Details for 716 North Van Ness Avenue

StatusActive
MLS #24-385079
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.15 AC / 6,731 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Advisors, Richard M Chernock, DRE #01369553
Add your commute

Building Information for 716 North Van Ness Avenue

Stories-Residences-Year Built1928Building Size-Lot Size0.15 AC / 6,731 SF

Payment Calculator

$8,680 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,459

Property Taxes

$221

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 716 North Van Ness Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: apartment
  • View: No
  • View Description: None
  • View: None
  • Entry Floor Number: 1
  • Security Features: Gated, Window Bars
  • Direction Faces: West
  • Property Condition: No Additions/Alter
  • Water: Meter on Property, In Street, District
  • Sewer: In Street Paid
  • Water Heaters: Yes
Contract Info
Contract Info
  • Financing: Cash To New Loan
  • Disclosures: Trust/Conservatorship
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $87,440
  • Net Operating Income: $47,278.00
  • Gross Income: $90,144
  • Cap Rate: 3.50%
  • Gross Rent Multiplier: $14.97
  • Actual Gross Annual Income: $87,440
  • Financial Info as Of: 04/26/2024
  • Total Annual Expense: 40162
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1545
  • Lot Size Square Feet: 6731
  • Lot Features: Yard, Utilities - Overhead, Front Yard
  • Lot Description: Fenced, Gutters, Yard, Utilities - Overhead, Street Lighting, Street Paved, Curbs, Front Yard
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 4
  • Parking Features: Garage
Interior Features
Interior Features
  • Room Type: Living Room, Primary Bathroom
  • Rooms: Breakfast Area, Living Room, Master Bedroom
  • Levels: Two
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Central, Forced Air
  • Heating Type: Central, Forced Air
  • Flooring: Hardwood, Mixed, Tile
  • Equipment: Dishwasher, Dryer, Electric Dryer Hookup, Gas Dryer Hookup, Gas Or Electric Dryer Hookup, Washer, Refrigerator, Range/Oven
  • Interior Features: None
  • Room Kitchen Features: Kitchenette, Walk-In Pantry
  • Kitchen Features: Kitchenette, Pantry
  • Room Bathroom Features: Shower in Tub, Low Flow Shower, Low Flow Toilet(s)
  • Bathroom Features: Shower and Tub, Low Flow Shower(s), Low Flow Toilet(s)
  • Bedroom Features: Main Floor Bedroom, WalkInCloset
  • Common Walls: Attached
  • Cooking Appliances: Built-In Gas, Oven
  • Laundry: In Unit
  • Disability Access: None
  • Volt220 Location: Other - See Remarks
  • TV Services: Cable TV
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition
  • Entry Location: Ground Level w/steps
  • New Construction: No
  • Exterior Construction: Hard Coat
  • Foundation Details: Combination
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-26-2024
  • Listing Terms: Cash To New Loan
  • Rent Control: Yes
  • Tenant Pays: Cable TV, Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,283.00
  • Unit Actual Rent: $2,238.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,179.00
  • Unit Actual Rent: $2,179.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $970.00
  • Unit Actual Rent: $970.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,080.00
  • Unit Actual Rent: $2,080.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $89,019.00
  • Assessed Improvement Percent: 54.9
  • Assessed Land Value: $73,124.00
  • Assessed Land Percent: 45.1
  • Assessed Total Value: $162,143.00

Property History for 716 North Van Ness 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 716 North Van Ness Avenue

Taxable ValueLand$73,124Additions$89,019Total$162,143
Tax Record2023$2,649 ($221 / month)
Home Facts
Total Finished SqFt3,932 SqFtAbove Grade Finished SqFt3,932 SqFtLot Size6,729 SqFtStyleQuadraplexYear Built1928ZoningLAR3CountyLOS ANGELESAPN5535-002-003

Schools near 716 North Van Ness Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Joseph Le Conte Middle School
Public6 to 8

Helen Bernstein High School
Public9 to 12

STEM Academy at Bernstein High
Public9 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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716 North Van Ness Avenue is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on April 26, 2024 by KW Advisors, it's currently listed at $1,550,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Santa Monica Boulevard Community Charter School, Joseph Le Conte Middle School and Helen Bernstein High School. 716 North Van Ness Avenue is a 4-bed, 4-bath, 3,932 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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Advisors, Richard M Chernock, DRE #01369553

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.