Address
2715 San Marino Street Los Angeles, CA
Price
$ 5,895,000
Property Attributes
  • MLS#SR21135381
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMid-Wilshire
  • Zip90006
  • Style
  • Price$ 5,895,000
  • Bedrooms32
  • Full Bathrooms30
  • Half Bathrooms0
  • Sqr Footage16804
  • Lot Size0.46 Acres
Listing Provided Courtesy Of:
Raymond Rodriguez with Keller Williams Realty Calabasas - 866-582-7865
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

2715 & 2723 San Marino Street is a rare two building portfolio sale located in the highly coveted and emerging sub-market of Macarthur Park, Los Angeles. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. The apartment buildings stand on two adjacent lots with separate APN’s and total 30 units. The buildings were constructed in 1923 and 1950 totaling 16,804± building square feet on a combined lot size of 19,866 ± square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment or the addition of multiple ADU units. Buyer to verify. These extremely spacious units at San Marino average 560± square feet. The units are comprised of: (4) Jr. 1 Bedroom + 1 Bath, (24) 1 Bedroom + 1 Bath, (2) 2 Bedroom + 1 Bath units. Common area amenities include controlled access, security camera monitoring system, gated covered parking, existing space to install on-site laundry and a central-courtyard. Unit amenities include select units with air conditioning, stove, plenty of closet space. Several units have been upgraded with new flooring and counter tops. Aesthetically, the property grounds and building are well maintained. MacArthur Park is located just minutes outside of Downtown L.A.’s employment hub in a bustling neighborhood with a diverse demographic. From working professionals, entrepreneurs, artists to blue-collar workers; the Macarthur Park neighborhood is a centrally located sub-market of Los Angeles and is adjacent to other notable neighborhoods including Downtown Los Angeles, Koreatown, Pico Union and a short drive to USC Village. The rental market is dense with endless streets lined with small businesses. MacArthur Park is designated Cultural Monument #100 in the City of Los Angeles and near Westlake, adjacent to the Metro’s Westlake/MacArthur Park Station. This provides convenient access to the Red and Purple Lines. Those lines provide public transportation toward Downtown, North Hollywood and toward Koreatown, with West Side extensions projected to be completed in 2027. Amidi Group, a San Francisco-based developer, is 50% complete with their $180 million 1027 Wilshire development.

Price History
6/22/2021 Listed $6,295,000
8/25/2021 7% - $5,895,000

General Features

Additional Parcels Description 5077028018
Additional Parcels Y/N Yes
Community Features Biking, Hiking, Park
Listing Agent Raymond Rodriguez - BRE#01402283
Listing Agent State License 01402283
Lot Size Square Feet 19886
MLS Area C17 - Mid-Wilshire
Pool Features None
Property Attached Y/N Yes
Property Type Residential Income
Security Features Closed Circuit Camera(s)
Senior Community Y/N No
Sewer Public Sewer
Special Listing Conditions Standard
Status Active
Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Contract
Total Units 30
Virtual Tour https://youtu.be/gca2dZe8NnU
Virtual Tour https://www.qwikvid.com/realestate/go/v1/mls/?idx=QpuqB4j6guSXBN2ac1rnrYYKJi5GWVGL
Zoning LAR4

Interior Features

Common Walls 1 Common Wall
Laundry Features Common Area

Exterior Features

Lot Features Back Yard, Rectangular Lot, Walkstreet
Lot Size Acres 0.46
Lot Size Area 19886
Lot Size Source Assessor
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 30
Number of Separate Gas Meters 30
Number of Separate Water Meters 1
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90006

Price
AVG $3.63M
$5.9M
Visits
AVG 49
120
Year Built
AVG 1935
1950
Walkscore
AVG 91
94
Data Provided by Walkscore ® not using MLS data

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