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1945 S Garth Avenue

Los Angeles, CA 90034

$5,150,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1964

calendar_month Built

Property Description

1945 South Garth Avenue is a 14-unit extensively renovated apartment building built in 1964. Located north of Cadillac Avenue, between Robertson Boulevard and La Cienega Boulevard. 1945 South Garth caters perfectly to its renters pool as the building is made up of large style units. The subject property consists of two (2) 2-bedroom / 1-bathroom units, ten (10) 2-bedroom / 2-bathroom units, and two (2) 3-bedroom / 2-bathroom units. Current ownership has meticulously renovated ten units with finishes not typically seen in this submarket, these renovations include new laminate wood-plank flooring, stainless steel appliance packages, modernized interior paint schemes, custom shaker cabinets, recessed lighting, new fan/wall-AC units, new tile, and custom vanities in bathrooms. Additional upside can be realized by renovating the remaining classic units and capturing roughly ~53% upside in rents. Current ownership has also maintained and upgraded the property’s building systems and exterior façade, including new windows throughout, recently replaced roof, fresh painting, updated lighting/ signage package, landscaping, and compliance with the mandated soft-story requirements (buyer to verify) by the City of Los Angeles, with a Certificate of Compliance in hand. These upgrades allow a subsequent buyer to focus on income-generating improvements, minimizing the upfront CapEx typically reserved for building systems. Situated in a convenient centralized location, 1945 South Garth benefits from neighboring submarkets and the substantial growth surrounding the property. Less than two miles to the south is Los Angeles’ most exciting submarket: Culver City. The recent expansion and desirability of Culver City are attributed to the corporate confidence in the area, with Amazon, Apple, and HBO establishing a presence and showing no signs of slowing down. Consequently, a dramatic development pipeline has been established to meet the housing demand expected in Culver City and surrounding submarkets. Garth’s neighboring submarkets include Beverlywood to the west, Pico-Robertson to the north, and West Adams to the east. All have undergone significant transformations and experienced surges in property values, making the subject property not only desirable but also affordable relative to surrounding submarkets with similar locational amenities.

Listing Information

List Price $5,150,000
Status Active
MLS OC24148529
Type Residential Income
Subtype Apartment
Year Built 1964
Lot Size 12,632
Structure Size N/A
DOM 25
Courtesy Of NorthMarq Realty Services, Inc
Listing Agent Steven Goldstein DRE#01975978

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

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king_bed N/A
shower N/A
straighten N/A
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shower 2
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Listing information courtesy of: Steven Goldstein, NorthMarq Realty Services, Inc . *Based on information from the Association of REALTORS/Multiple Listing as of Jul 19th, 2024 at 4:52 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.