1419 S Bronson Avenue, Los Angeles, CA 90019
Property
Sold May 2024
Listing Agent: Joe Connolly (DRE #01374227) · Listing Office: eXp Realty of California Inc · Contact: 888-584-9427 · Bought with: Joe Myers · Compass · MLS #24372099 · Source: CRMLS
About this property
Cashflow is king and this building offers it in spades! This is the best priced investment within a five mile radius; it's a great "buy and hold" play with immediate upside. The city-allowed 4% increase has not been implemented yet, all units are renting slightly below market value and two of them are expected to become vacant in the near future. When I negotiated the acquisition in 2009, this property was grossing just over $67,000 annually. Today, ACTUAL rents are $99,900. New owners could estimate the income to surpass $110,000 in the first year. Developers are cautioned to review the public record and the attached excerpt from the title report. Despite being located within R3 zoning, there is an easement which might preclude construction of additional units.
Listing description from the May 2024 sale, as reported to CRMLS.
Sale history