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Josh Canova

Engel & Völkers

josh.canova@evrealestate.com +1(858) 361-7010

$ 1,640,000

Est. payment -/mo

Save

New

1641 S New Hampshire AVE Los Angeles, CA 90006

15 Beds

9 Baths

4,809 SqFt

UPDATED:

03/10/2025 06:45 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,809 sqft

Price per Sqft $341

MLS Listing ID 25505735

Bedrooms 15

HOA Y/N No

Year Built 1961

Lot Size 6,551 Sqft

Property Description

9 units located in Historic Pico Union being offered at a below market $182,222 Price Per Unit! This professionally managed 1960's construction asset has a great top-heavy unit mix with (7) 2 Bed/1 Bath, (1) 1 Bed/1 Bath & (1) Single with some parking in the back being rented out by tenants. The entire building was re-piped to copper plumbing throughout in 2016 with permits pulled. Unit #9, 1 Bed/1 Bath, is new construction as the owner converted tuck-under parking into an ADU (new C of O and permits issued). On-site laundry room has brand new digital pay washer & dryer machines that are Landlord owned with NO laundry leases. EQ retrofit work has been completed, EQ shut off valves have been installed on the gas meters, and the master water heater was recently replaced -- all work done with permits. Separately metered for gas & electricity, and some units are on RUBS for utility reimbursements to help keep operating costs down. In-place 5.12% cap rate and 11.65x GRM on current rents and 2024 actual expenses (+ including new tax rate & assessments based on list price). 75% rental upside remaining to a stabilized 10.86% cap rate and 6.8x GRM. Tenant safety features include a gated & secured perimeter and located just 1/2 mile from both LAFD Station 13 and Olympic Community Police Station. Tenants enjoy being centrally located just blocks from both the 10 and 110 freeway entrance/exits, and just over 1 mile from Downtown LA, LA Live, Crypto.com Arena, and more!

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LARD1.5

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Microwave, Refrigerator

Exterior

Parking Features Assigned

Pool None

Community Features Gated

Total Parking Spaces 3

Private Pool No

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5075018028

Security Features Gated Community

Financing Cash,Conventional

Special Listing Condition Standard

Listed by Jonathan Rawson • Avenue Realty Group

Josh Canova

Advisor | License ID: C135485

+1(858) 361-7010

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