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Los Angeles, CA 90048 650 S La Jolla Avenue

$4,450,000

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Presented By: Adam Kanizo with Paloma Realty Partners, Inc.;
  • MLS# 24371201
  • 03/26/2024
  • Request Tour
  • Request Info
  • BedBeds • 10
  • BathBaths • 10
  • FootageSQFT • 10,858

Home Details

650 S La Jolla Avenue is a 10-unit multi-family apartment complex featuring 1,100sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has RTI permits for two 1bd/1bth ADUs through a carport conversion. Upon completion of the ADUs, the property will have a 13x GRM and an in-place 5.4% cap rate, with a 30% upside in existing unit rents. The building features a new 400amp main panel. Each unit is separately metered for electricity and gas.
Presented By: Adam Kanizo with Paloma Realty Partners, Inc.;

Interior Features for 650 S La Jolla Avenue

Bedrooms

Total Bedrooms10

Bathrooms

1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths10

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringWood
Heating Y/NYes
Laundry FeaturesStacked
Street SuffixAvenue
Total Stories

General for 650 S La Jolla Avenue

Additional Parcels Y/NNo
AppliancesRefrigerator, Dryer, Washer
Attached Garage No
Cap Rate4.3
Carport Spaces10.0
Carport Y/NYes
CityLos Angeles
Community FeaturesGated
CountyLos Angeles
Days on Market8
DirectionsWilshire and La Jolla Ave.
Garage Y/NNo
Gross Income275460.0
HOA / Comm AssnNo
HeatingCentral
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet12504.0
MLS AreaC19 - Beverly Center-Miracle Mile
MobileHomeRemainsYNNo
Net Operating Income191155.0
New ConstructionNo
Occupancy TypeTenant
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NYes
Security FeaturesSecurityGate, GatedCommunity, SmokeDetectors
Senior Community Y/NNo
SewerOther
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameLa Jolla
Tenant PaysElectricity, Gas
Total Units10
View Y/NNo
Waterfront Y/NNo
Year Built1928
ZoningLAR3

Exterior for 650 S La Jolla Avenue

Building Area Total10858.0
Crops Included Y/NNo
Door FeaturesDoubleDoorEntry
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2871
Lot Size Area12504.0
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCarport
SpaNo
Total Parking10.0

Additional Details

Price History

1527188455

First Team Client Services

Price $4,450,000
MLS#24371201
List Date 03/26/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors