There will be a 3 bedroom, 2 bath home coming to market on North Coronado Street in region 2 of Silver Lake.
This is one of the most desirable streets in Silver Lake. It is close to all the shops on Sunset as well as convenient to down town Los Angeles.
The price will be in the mid $700,000 range.
To be on the list of contacts, call Peter Silvester at 818-530-3225
MW Real Estate Group team of KW Commercial is pleased to present 8701 Olin Ave, an excellent 8U investment opportunity. On the market for the first time in decades, this asset has been one of the favorites in the owner’ s portfolio.
The property is located in the Palms neighborhood of Los Angeles, a West Side neighborhood adjacent to Culver City, with a very high Walk Score of 79 (out of 100) owing to the abundant shopping, restaurants, and local resident amenities. It is also close to Kaiser Hospital and UCLA and ideally situated in relations to the 10 and 405 freeways for easy access to east, west , north and south bound transport corridors.
8701 Olin sits on a corner lot in a quiet residential street with pride of ownership homes and tastefully renovated garden style apartment buildings. The property boasts a favorable unit mix of large 2 bedroom 1.5 bathroom units and large 1 bedroom units, all with well maintained hardwood floors. It is separately metered for gas and electric and has enough parking for all units. Owner owned laundry brings in additional income.
The rents on this property are particularly low for the area, with tremendous upside potential.
The Westside neighborhood of Palms is the oldest suburb of Los Angeles. Founded in 1886 halfway between L.A. and the beach on a steam railroad line, Palms attracted wealthy Angelinos escaping the summer’ s downtown heat as well as Easterners seeking a new life in the natural home of the fig, olive, lemon, lime, apricot, and that class of fruit that brings the largest profit in the local market. Rancho Park and Mar Vista had yet to make it onto maps it was all The Palms. Since then, much has changed. Palms is at the heart of LA’ s Westside and home to over 40,000 people and one of the most diverse populations in the Southland.
Today, the neighborhood is comprised of three business districts and five residential districts. It is bordered by Culver City to the south, Rancho Park and West LA to the north, and Mar Vista to the west. The district’ s boundaries are National Blvd. and the I-10 on the north, the Culver City boundary on the south, and the 405 on the West.
Call Peter Silvester for more info. 818-530-3225
Property owners in any type of investment property should know the benefits of having a professional manage a property in the Los Angeles area.
The Challenge
There are many landlords and property owners who get busy and can’t keep up a maintenance or rental schedule.
I know of a four-unit building north of Los Angeles where no maintenance has been performed and the rents have not been raised for 20 years.
If you’re not comfortable raising the rents year after year, you’ve got to remember the tenants are not your friends. They’re your bread and butter and you need to think of the relationship almost like a partnership.
They expect a property owner to keep the building and units well-maintained and that’s only possible when they’re paying market rates for rent.
The tenants are not going to do the upgrades to raise the property values.
When it comes time to liquidate the heirs will be sorely disappointed in the price they’ll receive if a new owner has to spend hundreds of thousands of dollars in updating.
Another cost of deferred maintenance is the down time needed to upgrade the property and put it back on the market for new tenants.
The Solution
Current owners should have a consultation for selling now or in future.
The cost of property management is more than made up for by the increase in rents moving forward and in the future sale price after renovation.
It takes more than an average property management company.
If you have more than one kind of asset like retail property or residential income, it would be wise to have a professional consultant. This person knows how to manage these different asset types to manage and maximize income.
Call me for referrals or to discuss your specific property management needs and portfolio.
Victorville has Positive ROI
Real estate investors looking to buy single-family homes and maximize future returns can look to the city of Victorville instead of going out of state. For less than $200,000, an investor can purchase a home with four or five bedrooms and up to three bathrooms and realize future gains. The price to buy an existing home is less than what it would be to build a single-family house.
Let’s compare numbers. A four-unit building in Los Angeles can cost one million dollars given the right neighborhood. You can buy four homes in the Victorville area for less than $800,000.
I know of a duplex in Eagle Rock valued at $ 695,000 and one side has a three-bedroom two-bath while the other has one bedroom and one bath.
Victorville has an Economic Base
I suggest investors look to the area for the quality jobs with companies like Boeing, Dr. Pepper Snapple Group, and Newell Rubbermaid. This provides a stable economic base. The military base is nearby and they’re likely to have nice families moving into the house.
The city and surrounding area is an important logistics center with the 5,000-acre Southern California Logistics Airport.
Victorville is Affordable
Rents typically go for $1,200 to $1,800 monthly making it an affordable alternative to comparable size homes in the greater Los Angeles area.
There’s no need to invest out of California and go into another state where the job market may be less diversified than the High Desert.
For those investors who are hands-on, the area is about a 90-minute drive from Los Angeles and quality property management companies are also available.
Call me to schedule a personal appointment to consider including a property in Victorville in your investment portfolio.
Click here for the city’s economic information page.
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1749 N Avenue 53
1749 N Avenue 53, Los Angeles, CA 90042
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Map of 1749 N Avenue 53, Los Angeles, CA 90042 (Los Angeles County)
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Description
Keller Williams Realty – Los Feliz is proud to present this beautifully renovated 3 bedroom, 2 bath home with an over head one bedroom apartment that rents for $1350. Both units are very charming. Set up the hill from the trendy area of York Blvd, this home offers comfort, low maintenance, views and convenient walk distance to shops, bakery, cafes and grocery stores. Move in or invest in this wonderful part of Los Angeles. CAP rate would be 4.68% with the main house rented for a conservative $2800 a month. If you are moving in, ask about FHA financing with very low down. Buyers and agents to do their own due diligence. Live is a great house and have residential income as well. Invest in real estate, invest in your future.
Take York and turn north on North Avenue 53 to …1749 N Avenue 53
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