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EXCLUSIVE LISTING | 13 Units | Los Angeles | Soft Story Retrofit Completed

Purchase Price: $3,410,000
Property Address: 3332 Andrita St. Los Angeles, CA 90065

  • CAP Rate:
  • Units:
  • Zoning Type:
  • Lot Size (Sqft):

3.44%

13

LARD2

9,601

  • GRM:
  • Year Built:
  • Price Per Unit:
  • Price Per Sqft:

16.46

1964

$262,308

$391.86


Investment Highlights


  • Excellent unit mix
  • New roof, decking, and water heater
  • Soft story retrofit complete

  • Mostly copper plumbing
  • Great Glassell Park market
  • Near Eagle Rock Blvd.

Attachments

Download Marketing Package (PDF):

Building Description

Property: 3332 Andrita St. apartment complex is comprised of 13 low-rise apartment units in one two-story building. The building construction is of wood frame with a flat roof and painted stucco exterior with window awnings.  Development was completed in 1964 with a total of 8,702 building square feet on a 9,601 square foot lot. Current zoning is LARD2

 

The apartment units are spacious and consist of 3 studios, 3 one bedroom/one bath units, 6 two-bedroom/one-bath units, and one 3 bedrooms/one and ½ bath unit. Common area amenities include parking comprised of 9 open and 2 tuck-under parking spaces and a laundry room. Unit amenities include wall-unit air conditioning, microwave, stove, and in select units granite counter tops and wood flooring. The units are spacious, and most have been upgraded.

 

The building is accessible in the front of the property off Andrita St. through a driveway parking entrance and walk up the entrance.

Aesthetically, the property grounds and building are well maintained and attractive. The landscaping is well kept and manicured.

 

Capital improvements include a newer roof, copper piping supply & drain upgrades for about 11 units, new decking, new handrails, and a new water heater. Soft story retrofitting has also been completed.

 

Location: 3332 Andrita St. is located in a very desirable and gentrifying submarket of Glassell Park adjacent to the trendy Atwater Village, Silver Lake, Glendale, Highland Park, and Eagle Rock/Mt. Washington submarkets. The property is just north-west of the Glendale Fwy and northeast of San Fernando Rd.

 

Andrita St. is a low traffic quiet residential tree lined street. The immediate vicinity consists of well-maintained apartment buildings and single-family homes.  Silver Lake & Atwater Village are very trendy hipster neighborhoods. These hip locations have created a hub for tech-related business and entertainment to thrive in.

 

The property is centered between three major freeways. The 2 freeway to the east, the 5 freeway to the west, and 134 freeway to the north.