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532 W Vernon Ave

Los Angeles, CA 90037
  • $2,350,000
  • STATUS: Active Under Contract
  • ON SITE: 130 Days
  • ID#: 22-182807
Under Contract
UPDATED: 43 min ago
$2,350,000
  • 15
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,354
    SQFT
  • $320
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2022
County:

School Ratings & Info

Description

We are pleased to present a fully vacant five (5) unit brand new construction apartment building located at 532 West Vernon Avenue in Los Angeles, California. The subject property is situated in a solid South Los Angeles Location, south of West Vernon Avenue and west of South Figueroa Street. Built in 2022, this brand new multifamily property contains an incredible unit mix of one (1) one bedroom / one and a half bathroom ADU unit, two (2) three bedroom / three bathroom units, and two (2) four bedroom / four bathroom units all spread across a total of three (3) buildings. These large townhouse style units feature spacious floor plans with the front four (4) units going up three (3) stories each, and the ADU in the rear of the property going up two (2) stories. With USC less than two (2) miles away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available less than a mile away at both Exposition Park featuring the Banc of California Stadium to the north, and Julian C. Dixon Park to the south. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Figueroa Street, which is accessible within short walking distance. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-03T15:43:21.027. 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.
www.realestatetoolbox.com/homes/131264870
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532 W Vernon Ave Los Angeles, CA 90037

  • Price: $2,350,000
  • Status: Active Under Contract
  • On Site: 130 Days
  • Updated: 43 min ago
  • ID#: 22-182807
15
Beds
0
Baths
0
½ Baths
0.17
Acres
7,354
SQFT
$320
$/SQFT
2022
Built
Neighborhood:
Downtown L.A.
County:
Los Angeles
Area:
Downtown L.A.
Property Description
We are pleased to present a fully vacant five (5) unit brand new construction apartment building located at 532 West Vernon Avenue in Los Angeles, California. The subject property is situated in a solid South Los Angeles Location, south of West Vernon Avenue and west of South Figueroa Street. Built in 2022, this brand new multifamily property contains an incredible unit mix of one (1) one bedroom / one and a half bathroom ADU unit, two (2) three bedroom / three bathroom units, and two (2) four bedroom / four bathroom units all spread across a total of three (3) buildings. These large townhouse style units feature spacious floor plans with the front four (4) units going up three (3) stories each, and the ADU in the rear of the property going up two (2) stories. With USC less than two (2) miles away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available less than a mile away at both Exposition Park featuring the Banc of California Stadium to the north, and Julian C. Dixon Park to the south. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Figueroa Street, which is accessible within short walking distance. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.
Exterior Features

Covered Parking 8 Entry Location Main Level Lot Description Single Lot Lot Location City Lot Size Area 7246 Other Structures Accessory Dwelling Unit Parking Garage Garage Is AttachedGatedCovered ParkingUncovered Patio Features Patio Open Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Style Modern Tennis Court None Tennis YN No Total Parking 11

Interior Features

Bathroom Features Shower Over Tub Baths Total 16.00 Cooling Air Conditioning Equipment Built-Ins Flooring Wood Heating Wall Kitchen Features Counter Top

Property Features

Alley YN No Assessed Total Value 750000 Gross Income 206400 Gross Operating Income 200208 Land Lease Type Fee Like Units1 1 Like Units2 2 Like Units3 2 Net Operating Income 151108.00 Number Of Buildings 3 Number Of Units 5 Property Condition New Construction Rent Control YN No Sale Type Standard Security Features Gated Source Living Area Plans Source Lot Size Area Vendor Enhanced Total Annual Expense 49100 Type Of Units Market Water Heaters YN Yes Year Built Source Builder Zoning Lar3

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap: 818-212-2700.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-03T15:43:21.027. 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.
 
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