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1336 S Centinela Avenue

Los Angeles (City), CA 90025
  • $4,050,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: 22184261
UPDATED: 77 min ago
$4,050,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Brent Sprenkle of Berkadia (310-209-3200)


Description

1336 South Centinela Avenue, a 10-unit value-add apartment community built in1960 and located in the heart of West Los Angeles. Current Ownership originally purchased the property in 1973 and the property has never been offered for sale over the last50-years, representing a generational opportunity primed for value-add enhancements. Current rents at the property are 34% below post-renovation market rents allowing anew owner to capture significant rent premiums upon unit turnover. 1336 South Centinela features a unit mix comprised of six (6) one-bedroom/one-bathroom units, three (3) two-bedrooms/one-and-half bathroom units, and one (1) two-bedrooms/one-and-half bathrooms townhouse unit with a front facing private balcony. The property is well-maintained by current ownership and has received a Certificate of Compliance for satisfying the soft story retrofit requirements, allowing a future Buyer to focus their efforts on income generating improvements. 1336 South Centinela is situated on an 8,636square foot parcel with 7,969 of gross square footage which includes an on-site laundry facility (one-washer/one-dryer),and on-site tuck-under parking for 11 vehicles. 1336 South Centinela has a dynamic location with main thoroughfares directly adjacent to the property in Santa Monica Boulevard, and Wilshire Boulevard. Given the convenience of both Wilshire and Santa Monica, tenants can enjoy amenities geared towards a true Los Angeles lifestyle. Major employment centers such as Santa Monica, Brentwood, Westwood, and Century City are all a short commute from the subject property, and leisure options such as a short commute to the beaches of Santa Monica, the shopping and dining options of Brentwood and Westwood Village, and Westfield Century City is less than a 15-minute drive from the property. West LA has experienced a resurgence over the last few years and will continue to have an impactful rebound in a post-COVID world. An example of such is the flag that Google has planted by leasing the entirety of One Westwood (10800 Pico Boulevard,2.0 Miles from 1336 South Centinela) which features over 580,000 square feet of creative office space. With an influx of high-paying jobs returning to the West LA submarket, 1336 South Centinela represents a great buying opportunity to capture the demand for well-compensated employees' desire to live in renovated product nearby their workplace.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T22:32:00.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.searchsocalrealestate.com/homes/131412918
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1336 S Centinela Avenue Los Angeles (City), CA 90025

  • Price: $4,050,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 77 min ago
  • ID#: 22184261
0
Beds
0
Baths
0
½ Baths
0.2
Acres
1960
Built
Neighborhood:
WLA - West Los Angeles
County:
Los Angeles
Area:
WLA - West Los Angeles
Property Description
1336 South Centinela Avenue, a 10-unit value-add apartment community built in1960 and located in the heart of West Los Angeles. Current Ownership originally purchased the property in 1973 and the property has never been offered for sale over the last50-years, representing a generational opportunity primed for value-add enhancements. Current rents at the property are 34% below post-renovation market rents allowing anew owner to capture significant rent premiums upon unit turnover. 1336 South Centinela features a unit mix comprised of six (6) one-bedroom/one-bathroom units, three (3) two-bedrooms/one-and-half bathroom units, and one (1) two-bedrooms/one-and-half bathrooms townhouse unit with a front facing private balcony. The property is well-maintained by current ownership and has received a Certificate of Compliance for satisfying the soft story retrofit requirements, allowing a future Buyer to focus their efforts on income generating improvements. 1336 South Centinela is situated on an 8,636square foot parcel with 7,969 of gross square footage which includes an on-site laundry facility (one-washer/one-dryer),and on-site tuck-under parking for 11 vehicles. 1336 South Centinela has a dynamic location with main thoroughfares directly adjacent to the property in Santa Monica Boulevard, and Wilshire Boulevard. Given the convenience of both Wilshire and Santa Monica, tenants can enjoy amenities geared towards a true Los Angeles lifestyle. Major employment centers such as Santa Monica, Brentwood, Westwood, and Century City are all a short commute from the subject property, and leisure options such as a short commute to the beaches of Santa Monica, the shopping and dining options of Brentwood and Westwood Village, and Westfield Century City is less than a 15-minute drive from the property. West LA has experienced a resurgence over the last few years and will continue to have an impactful rebound in a post-COVID world. An example of such is the flag that Google has planted by leasing the entirety of One Westwood (10800 Pico Boulevard,2.0 Miles from 1336 South Centinela) which features over 580,000 square feet of creative office space. With an influx of high-paying jobs returning to the West LA submarket, 1336 South Centinela represents a great buying opportunity to capture the demand for well-compensated employees' desire to live in renovated product nearby their workplace.
Exterior Features

Carport YN Yes Parking Features Attached CarportCovered Parking Total 10

Interior Features

Appliances Refrigerator Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Gross Income 209919 Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 124872 New Construction YN No Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Vacancy Allowance Rate 0 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T22:32:00.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_369479450-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_369479450-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_369479450-1.jpg
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Rogers Realty Group/Berkshire Hathaway HomeServices California Properties
1063 W Sixth Street
Ontario CA, 91762
Listing Agent(s): Brent Sprenkle of Berkadia (310-209-3200)