Sold
639 N Juanita Ave
Los Angeles CA, 90004
$3,550,000
$425.66 per sqft
Sold
18 Beds
18 Baths
8,340 sqft
Residential
Built in 1990
***Excellent Assumable Debt - $1,925,000 loan, fixed 3.2% interest-only until April 2027***We pleased to present 639 N. Juanita Avenue, a 9-unit value-add apartment building located in East Hollywood (Silver Lake adjacent). The building was constructed in 1990 so it is not subject to LA City Rent Control (only subject to California State Rent Control). The building consists of all two bedroom/two bath units. Select units have been remodeled and feature vinyl wood flooring, recessed lighting, new windows, new sliding glass patio doors, mini split heat/air-condition units, remodeled bathrooms and kitchens with new shaker cabinets, stone countertops and stainless-steel appliances (gas range oven, refrigerator, dishwasher, microwave). The property features gated entry, secured covered parking and a laundry facility and sits on a 7,543 square foot lot that is LAR3 zoned.This is a great opportunity for an investor who is looking for a value-add property with a favorable unit mix located in an excellent rental submarket that is not subject to City of Los Angeles Rent Control. Existing ownership has been successful in achieving top of the market rents for renovated units. New ownership has an opportunity to realize remaining potential rental upside by continuing the current renovation program to unit interiors as existing tenants move out. 639 N. Juanita Avenue is located in trendy East Hollywood, which has become one of the most sought-after rental submarkets in Los Angeles. The property boasts a Walk Score of 91 as it is just two blocks from chic retail, restaurants, bars, cafes and coffee shops along Virgil Avenue in popular Silver Lake. The property is also just a short drive to Koreatown, Hollywood, West Hollywood, Echo Park and Downtown Los Angeles. The property is conveniently located close to the 101 freeway and just 0.5 miles from the Vermont/Beverly Metro D Line Station offering a viable public transportation option for commuters headed to Downtown Los Angeles or North Hollywood.
24-355985
MLSⓇ ID
February 7, 2024
Listed
May 9, 2024
Updated
Map
639 N Juanita Ave
Los Angeles CA, 90004
Interior Features
Total Stories
2
Bedrooms
18
Total Bathrooms
18
Appliances
Refrigerator, Range/Oven, Garbage Disposal
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.17 Acres
Other Property Details
Area Name
Silver Lake - Echo Park
Days on Market
75
Garage
No
Parking
Covered Parking
Parking Total
12
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listing History
Date | Event | Price |
---|---|---|
5/3/2024 | Sold | $3,550,000 |
4/23/2024 | Pending | — |
Listed by Matthew Ziegler with Marcus & Millichap
Listing Contact: 310-403-3325
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Tracy Tutor | CA DRE# 01326769 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/9/2024