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For Sale: Bright Renovated Triplex Near Koreatown

Look no further for an investment property.  This bright and renovated triplex cash flows well and requires little maintenance since all units have been extensively updated from the windows, floors, stainless steel appliances, kitchen cabinets, heaters, windows, and bathrooms.  Each unit comes with washer and dryer hook ups.  The front units have central air conditioning and the rear unit has a private garden and garage. Most of the building is copper plumbed, the roof has been recently replaced and foundation has been recently bolted.  Ample parking for up to 7+ cars on the lot or park on the extra wide street with tall mature vegetation.  With a walk score of 81, you are a short walk from public transportation, grocery stores, and restaurants such as the Gus’ World Famous Fried Chicken, Pasta Sisters and La Cevicheria.  Just a short car ride from the 10 freeway, Koreatown, and Miracle Mile. Please contact me directly for details. Asking price: $1,539,000.

For Sale: San Gabriel Retail/Office/Medical Office Space next to 2 large proposed developments

FOR SALE

San Gabriel Retail/Office/Medical Office Space

next to 2 large proposed developments

Prime retail/office space in a developing area of San Gabriel just down the block from the proposed Rubio Village development comprising 18,000 SF of commercial space and 159 residential units and the proposed 220 S. San Gabriel development consisted of 163 condominium units and 34,835 SF of ground-floor commercial space on a 3.59-acre site. Previously a chiropractor’s office, the property has been built out with 6 offices. Property needs some work and the new owner can renovate it as they desire. Property values will only increase in this area. Buyer to verify all information. Contact directly me with any questions. Asking price: $699,000.

For Sale: Off Market 4 Unit Apartment in Hollywood – 5.56% Cap Rate

For Sale: Off Market 4 unit apartment in Hollywood. Pro forma cap rate of 5.56%. 8 parking spots. $1,500,000.

Seller plans to deliver 3 units vacant. The remaining unit generates market rent of $2,300/month, which the other vacant units should get in rent. Freshly painted 4 unit building with mirror image 2 bedroom, 1 bathroom units located on a nice block of Hollywood just around the block from public transportation, shops, and restaurants on Western Avenue and Melrose Boulevard. Great investor opportunity to own in great neighborhood. Has 4 covered and 4 uncovered parking spots in the back. Recent upgrades include fresh exterior paint and a new roof. Building sold as is, buyer to do their own due diligence.

This property will go on the MLS in 2017 so act fast!  Please inquire for set up sheep and more information.

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For Sale: Beautiful Split Level Home in Chevy Chase Canyon – Glendale, CA

Below is a flyer for my new listing, 2588 East Chevy Chase Drive, Los Angeles, CA 91206, a beautiful split level home nestled within Chevy Chase Canyon.  The home boasts 1,513 sq. ft. of living area and has 3 bedrooms and 3 bathrooms per the seller’s appraisal.

The inside of the home boasts an open floor plan with lots of light and access. On the main level, there is a large living room with fireplace, an updated kitchen, bonus room, bathroom and dining room area that accesses a large deck/patio and vast,lush, and woody backyard. Two bedrooms, including the master bedroom, are located on the top floor and another bedroom and bathroom on the lower floor that can be accessed through a spiral staircase from the inside and through a door from the outside. The upper level master bathroom has its own separate access to the patio/deck and backyard. The home sits on a large and lush lot of almost 11,000 square feet that offers lots of open space and shade, and with the tall oak trees, it feels like you are in an enchanted forest. There is a lot of additional usable lot space for further development if that interests the buyer. The freeway is just a few minutes drive from this home. Buyer is to investigate and satisfy themselves with the permitting of the lower bedroom and bathroom as it does not reflect on the assessor’s records. The assessor’s records reflect a 2 bedroom 2 bathroom home with 1,434 square feet.

More details can be found here: http://mrmlsmatrix.com/matrix/shared/9sGJqh3Q3zFd/2588ChevyChaseDriveE

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SOLD ABOVE LIST PRICE! Class A Office Building in Jeffrey Office Park (1150 Roosevelt Avenue, Irvine, CA)

Those looking to purchase an office building in Irvine know that there is not a lot of supply out there.  I recently helped a client sell their 4,960 square foot office building for above list price to an investor!  The transaction highlights include a 1031 exchange component, negotiation of a leaseback from the buyer, and facilitating the release of rights of first refusal held by an existing tenant and the Irvine Company.  Given my legal background, these tasks were not difficult to accomplish for the client.

Do not hesitate to call me with any questions about buying or selling a similar property!

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SOLD IN 1 WEEKEND: 12722 Milbank Street, Studio City, CA 91604

I just sold this single family home in Studio City last week!  I represented the seller and was able to secure a significantly above asking price offer from a buyer client within the first weekend of being on the market.  Both the seller and buyer are happy with the outcome!

Contact me for all of your real estate needs, brokerage and/or legal!


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New For Sale Listing: Fixer Bungalow in Silver Lake

Below is a flyer for my new listing, 651 Imogen Avenue, Los Angeles, CA 90026, a 1,385 sq. ft. bungalow with 4 bedrooms and 2 bathrooms.  The home seems larger than 1,385 sq. ft. after walking downstairs to another large room adjoining an even larger storage area.  In addition, there are two storage sheds and a detached two car garage and a long driveway for parking.  Located on a large 7,497 sq. ft. lot and zoned R-2, there are many opportunities to customize and increase the value of home as the home could be restored, updated, remodeled and/or expanded (i) to single family use consistent with the existing use or (ii) in a manner consistent with its original layout for two families as the home is equipped with two kitchens and 3 entrances/exits.  The home could use some work so please be prepared to bring your contractor.

Priced at $619,000, this home presents an opportunity to own in Silver Lake below the median sales price and to customize a home to your liking.  Please contact me for a showing or if you have any questions.

More details can be found here: http://mrmlsmatrix.com/Matrix/Public/Portal.aspx?ID=33609430138

Curbed recently noted that Silver Lake was the hottest real estate neighborhood in 2014 (http://la.curbed.com/archives/2014/12/silver_lake_was_las_hottest_real_estate_neighborhood_in_2014.php) with the median home sales price being $822,000, 56% of homes sold over asking prices, and homes  in the neighborhood lasting a short 15 days on the market.

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For Sale: New Corner Penthouse Condo Listing in Culver City

For Sale: Lofty Corner Penthouse in Palms/Culver City

Local news report Summer doldrums in the residential market for some areas in Los Angeles.

DSCF9763Normally the summer is high season for residential real estate market.  The summer of 2014 is different than expected and might signal a normalizing residential real estate market: http://www.sgvtribune.com/business/20140726/southern-california-housing-market-comeback-stalls http://www.latimes.com/business/realestate/la-fi-home-prices-20140716-story.html

Downtown LA: New Wilshire Grand Design Released

Keep your eyes out for the new Wilshire Grand appearing in the downtown Los Angeles skyline.  The tower is expected to be approximately 1,100 feet tall (100 feet taller than downtown Los Angeles’ current tallest building, the US Bank tower) and to be completed in 2017 (looks like I have a few years before I have to update my website photos).  The new Wilshire Grand is expected to add 900 hotel rooms and 400,000 square feet of office space to downtown Los Angeles.  For comparison, the JW Marriot Hotel and Ritz Carleton, the first skyscraper built in downtown in two decades, added approximately 1,000 hotel rooms in 2010.

Check out their website for more information: http://www.wilshiregrandcenter.com/the-new-wilshire-grand

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