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34289622
34289621

1040 South Longwood Avenue, Los Angeles, CA 90019 For Sale

AV
CA 01982874
Coldwell Banker  Realty
Listed by Coldwell Banker Realty
$2,425,000
10 days on market
Updated 10 days ago

1040 South Longwood Avenue

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,962
Occupancy 50%
Pro-Forma Cap Rate 6.90%
Pro-Forma NOI $167,693
Year Built 1926
Lot Size (SqFt) 8,922

Fourplex (2 Duplexes on Lot) Pro Forma Cap Rate 6.9%

Marketing description

Situated on a tree-lined street in the coveted Mid-City and Longwood Highlands area, 1040 S. Longwood Ave. is an exceptional income property consisting of two separate duplexes on an oversized 8,922 square foot corner lot. With high ceilings, elegant archways, and abundant natural light throughout, the property reflects the timeless charm, an ideal opportunity for an owner/user, with two units delivered vacant. The Longwood building offers a 3-bedroom, 3-bath unit upstairs and a 3-bedroom, 2-bath unit downstairs. Both feature spacious, high-ceiling living rooms with decorative fireplaces and large windows overlooking the quiet street, plus a sunroom off the living room that makes an excellent home office or yoga room. A gracious formal dining room opens to the living room, and a charming breakfast nook includes built-ins. The second building on Edgewood holds two updated 2-bedroom, 2-bath units, each with a large high-ceiling living room with decorative fireplaces and floor-to-ceiling window, a sunroom home office or yoga room, a formal dining room with large windows, and a breakfast nook overlooking the courtyard. Between the buildings, a lush gated courtyard offers a tranquil sitting area perfect for entertaining, accessible to all four units. Two attached garages complete the property. Miracle Mile and Hancock Park adjacent. Just minutes from Larchmont Village, Koreatown, Downtown LA, and the Westside. Nearby attractions include LACMA, the Academy Museum, the Petersen Automotive Museum, The Grove, the Larchmont Farmers Market, and the Wilshire/La Brea Metro D Line station.

Investment highlights

Pro Forma Cap Rate, income details are scheduled. There are 2 duplexes on the lot. Building along Longwood Ave has a vacant unit on the 1st floor. The 2 units that are vacant that show in photos are staged. Building on Edgewood Pl has a vacant unit on the 2nd floor.

Listing Contacts

AV
CA 01982874
Coldwell Banker  Realty
Listed by Coldwell Banker Realty

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Additional Information

Name
Andrew Vargas
License
01982874
Brokerage
Coldwell Banker Realty
Brokerage Phone
7143713692
Brokerage Address
301 North Canon Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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