819 Beacon Avenue, Los Angeles, CA 90017 (MLS # 24398233)
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We are pleased to present 819 Beacon Ave, a charming 15-unit multifamily property located in the vibrant Westlake neighborhood of Los Angeles. Constructed in 1906, this property comprises a balanced mix of 7 single and 8 one-bedroom units, spread across a building area of 10,340 square feet on a 7,750 square foot lot. Its proximity to the trendy area of Koreatown and the bustling downtown Los Angeles offers investors a unique blend of historical charm and access to a dynamic urban lifestyle, attracting a broad tenant base. At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. The property's utility setup also offers a cost-saving opportunity. Since it is master-metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker's Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base. The strategic location of 819 Beacon Ave not only ensures easy day-to-day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid-Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.
| DAYS ON MARKET | 100 | LAST UPDATED | 6/27/2024 |
|---|---|---|---|
| YEAR BUILT | 1906 | COMMUNITY | Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Jun 27, '24 | $2,425,000 |
|---|---|
| Jun 27, '24 - Today | $2,375,000 |
| ADDITIONAL DETAILS | |
| AREA | Downtown L.A. |
|---|---|
| LOT | 7752 sq ft |
| LOT DIMENSIONS | 50x155 |
| STORIES | 2 |
| ZONING | LAR3 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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