Active
423 N Harvard BLVD
LOS ANGELES CA, 90004
$4,600,000
$389.93 per sqft
Active
5 Beds
11,797 sqft
Residential
Built in 1965
423 N Harvard Blvd is a 16-unit apartment building located in the neighborhood of Oakwood. This Central Los Angeles Location is nestled between the sought-after neighborhoods of Hancock Park, Koreatown, Silverlake, and Hollywood. The building is in great condition with a new roof and has had most units upgraded with quartz countertops, wood flooring, new appliances and new AC units, commercial grade copper plumbing, and the whole building was recently retrofitted with top-of-the-line upgrades. This includes the highest-quality steel girders, reinforced rebar, high-quality institutional-level cement, custom-crafted stiffening elements, and well-constructed reinforcement materials throughout. That retrofit was fully approved by the City Inspectors and all the paperwork approving it was timely submitted and is recorded in the City s Records. This building also has plans for (4) ADUs that will make the acquisition of the property for $4,600,000 a wise and flourishing investment. Those four ADUs have been designed by a gifted Architectural Designer, are drawn up in finalized plans, have been reviewed and approved by a licensed structural engineer, and are now in Final Plan Check with the City of Los Angeles. Information on these ADUs is on the next page of this OM. This is an incredible opportunity to take advantage of LA's need to add more housing and increase capital through building ADUs on land you already own. On top of the ADU potential, this building offers outstanding rent upside of nearly 25% w/ immediate improvement available. The location of this property is nearly unbeatable - offering easy access to trendy walkable neighborhoods such as Larchmont Village and Virgil Village. For the Savvy Real Estate Investor, this apartment building can almost immediately operate with a 5.35% return, plus a great opportunity for immediate value-add with the opportunity to add ADUs. This well-located and well-maintained building is a solid investment opportunity in the great rental market of LA!
SB23228039MR
MLSⓇ ID
December 19, 2023
Listed
April 5, 2024
Updated
Map
423 N Harvard BLVD
LOS ANGELES CA, 90004
Interior Features
Total Stories
2
Bedrooms
5 Beds
Laundry Description
Laundry Area
Fireplace
Yes
Fireplace Description
None
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.33 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Mid-Wilshire
Days on Market
79
Garage
No
Parking Total
16
View
No
View Description
None
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LAR3
Listing History
Date | Event | Price |
---|---|---|
3/6/2024 | Price Change | $4,600,000 -3% |
Listed by Brett Lyon with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-706-4066
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Craig & David Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/5/2024