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24633049
24633059

4412 Lockwood Ave, Los Angeles, CA 90029

TL
CA CA 02015705
Equity Union Commercial
JK
CA CA 01934177
Equity Union
Listed by Equity Union Commercial, Equity Union
$1,350,000
333 days on market
Updated 58 days ago

4412–4414 Lockwood Avenue

Details
APN 5539-009-003
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,521
Units 7
Cap Rate 6.04%
NOI $81,561
Occupancy 71%
Broker Co-Op Yes
Class C
Year Built 1946/1960
Buildings 2
Stories 2
Lot Size (SqFt) 9,299
Zoning LARD1.5
Investment Type Value Add

Prime Location - Major Value-Add

Marketing description

4412–4414 Lockwood Avenue features a five-bedroom, two-bathroom standalone home built in 1946, alongside a six-unit apartment building comprised entirely of one-bedroom, one-bath units constructed in 1960. The property offers a combined building size of 5,521 square feet on a 9,299-square-foot lot.

SINGLE FAMILY HOME DETAILS:

The first floor provides a comfortable 3-bedroom unit, boasting a generously sized kitchen ideal for entertaining.

The second floor features a spacious 2-bedroom unit, complete with a dedicated office space, perfect for remote work or a creative studio, and a large private balcony overlooking Lockwood Avenue.

Adding to the property’s immense value, is an above-grade basement, currently vacant and presenting a blank canvas for an investor. With its own kitchen, bathroom, and bedrooms, this space mirrors a similar footprint of the main house. Its existing windows and separate access door may create a clear path to legalizing an additional dwelling unit (buyer to verify), significantly increasing rental income or providing flexibility with the living arrangements.

ONE BEDROOM UNIT DETAILS:

All the 1 Bedroom / 1 Bath units have well-designed floor plans, with large open kitchens and large living areas, bathrooms and bedrooms. Upstairs units have views of Hollywood and Western Los Angeles through large windows in the main living areas. Each unit also has an individual water heater and wall heater. All units are separately metered for electricity and gas, and the landlord pays for water and trash. Laundry is provided on site in a separate room. The tuck under parking area provides 5 parking spaces and there are two additional surface spaces between the single-family home and the apartment buildings. The soft story retrofit requirement has also been completed on the apartment building.

Investment highlights

MAJOR VALUE ADD OPPORTUNITY – current rents are approximately 57 percent below market

ADU POTENIAL - SEPARATE UNRENTED BASEMENT UNIT – Spacious separate basement space in the single-family home that includes bedrooms, kitchen, bathroom, windows and a private entrance.

ADDITIONAL ADU POTENTIAL – tuck under parking in the six-unit apartment building may provide potential to create additional units.

VACANT UNITS – two units will be delivered vacant with the possibility of a third

EXCELLENT UNIT MIX – One five-bedroom single family home alongside a six-unit building consisting of all 1bed+1bath units

PRIME LOCATION –Easy walking distance to dining, retail and entertainment on both Vermont Ave and Virgil Ave. and just four blocks away from Sunset Junction in Silver Lake.

Listing Contacts

TL
CA CA 02015705
Equity Union Commercial
JK
CA CA 01934177
Equity Union
Listed by Equity Union Commercial, Equity Union

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$81,561.00
$6,796.75/mo

Valuation Metrics

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DSCR
6.04%
Cap Rate
6.04%
ROI

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Additional Information

Name
Troy Lucero
License
CA 02015705
Brokerage
Equity Union
Title
Director
Brokerage Address
16820 Ventura Blvd
Name
Josh Kaplan
License
CA 01934177
Brokerage Phone
3104051890
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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