Property Detail

Description

1860 North Alexandria Avenue, Los Angeles, CA, is being offered for sale for the first time in nearly 50 years. The offering is situated within the Hollywood submarket, which is recognized as one of the country's premier employment centers, offering access to a vast and diverse array of employers. This 16-unit garden-style apartment community is situated on the southeast corner of Franklin Avenue and Alexandria Avenue within the highly coveted Los Feliz zip code of 90027. The immediate area has historically provided investors with exceptional long-term capital appreciation and wealth preservation. 1860 North Alexandria Avenue, built in 1951, features an ideal unit composition of twelve (12) One-Bedroom | One-Bathroom and four (4) Single | One-Bathroom apartment homes that surround a quiet gated courtyard with mature landscaping. The oversized corner parcel measures 10,494 square feet. Updated unit interiors feature original oak flooring, tiled baths and kitchens, wooden windows, refrigerator, stove, dishwasher, and abundant closets/storage. As units turn over, enhancements could be made to realize market rents. The property demonstrates true pride of ownership, with multiple capital improvements made, including the replacement of horizontal lines and risers completed in 2010. The mandatory soft-story retrofit was completed in 2019, new handrails were installed on the staircases and walkways in 2021, and gas shut-off valves were installed in 2019. Property attributes include 12 vehicle parking spaces (6 individual garages and 6 on-grade spaces), common area laundry room, separate gas & electrical utilities, and one central hot-water tank.