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106 E Avenue 37

Los Angeles, CA 90031
  • $5,450,000
  • STATUS: Active Under Contract
  • ON SITE: 91 Days
  • ID#: 21-798702
Under Contract
$5,450,000
  • 18
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,764
    SQFT
  • $369
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1924
County:

School Ratings & Info

Description

The Heritage Square Portfolio features 3614-3618 Pasadena Avenue, 106-114 E. Avenue 37 and 103-117 E. Avenue 36, and is comprised of (22) residential units and (3) commercial spaces on 51,492 SF of land. 106-114 E. Avenue 37 & 103-117 E. Avenue 36 is comprised of (17) bungalow-style units sitting on two parcels totaling 38,583 SF of land. Please note, 13 of the 17 units are true bungalows with private entrances, no shared walls, side-yards and backyards. 3614-3618 Pasadena Avenue is comprised of 3 commercial spaces and 5 residential units sitting on 12,433 SF of land zoned RAS3. This portfolio offering is a true value-add opportunity as current rents are approx. 61% below market compared to renovated units in the area. Additionally, the portfolio sits directly across from the Heritage Square Gold Line station and is eligible for Tier 3 TOC incentives.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-24T23:42:28.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.vidaash.com/homes/122730373
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106 E Avenue 37 Los Angeles, CA 90031

  • Price: $5,450,000
  • Status: Active Under Contract
  • On Site: 91 Days
  • ID#: 21-798702
18
Beds
0
Baths
0
½ Baths
N/A
Acres
14,764
SQFT
$369
$/SQFT
1924
Built
Neighborhood:
Lincoln Heights
County:
Los Angeles
Area:
Lincoln Heights
Property Description
The Heritage Square Portfolio features 3614-3618 Pasadena Avenue, 106-114 E. Avenue 37 and 103-117 E. Avenue 36, and is comprised of (22) residential units and (3) commercial spaces on 51,492 SF of land. 106-114 E. Avenue 37 & 103-117 E. Avenue 36 is comprised of (17) bungalow-style units sitting on two parcels totaling 38,583 SF of land. Please note, 13 of the 17 units are true bungalows with private entrances, no shared walls, side-yards and backyards. 3614-3618 Pasadena Avenue is comprised of 3 commercial spaces and 5 residential units sitting on 12,433 SF of land zoned RAS3. This portfolio offering is a true value-add opportunity as current rents are approx. 61% below market compared to renovated units in the area. Additionally, the portfolio sits directly across from the Heritage Square Gold Line station and is eligible for Tier 3 TOC incentives.
Exterior Features

Cross Streets Pasadena Avenue & Avenue 36 Lot Size Area 51492 Other Structures None Parking Garage Uncovered Total Parking 17

Interior Features

Baths Total 25.00 Common Walls Detached/No Common Walls Cooling Other Equipment Other Heating Other

Property Features

Gross Income 361664 Gross Operating Income 354431 Like Units1 1 Net Operating Income 217133.00 Number Of Buildings 16 Number Of Units 25 Sale Type Standard Source Living Area Other Source Lot Size Area Assessor Total Annual Expense 137297 Type Of Units Bungalows Year Built Source Vendor Enhanced Zoning Lard1.5Lasar3

Listing provided courtesy of Max Berger DRE# of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-24T23:42:28.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Vida Ash Properties | Compass
11601 Wilshire Blvd
Los Angeles CA, 90025