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$ 1,795,000
Est. payment | /mo
3,870 SqFt
$ 1,795,000
Est. payment | /mo
3,870 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,870 sqft
Price per Sqft $463
MLS Listing ID CL26871485
HOA Y/N No
Year Built 1938
Lot Size 6,501 Sqft
Acres 0.1492
Property Sub-Type Other
Property Description
422 N Sierra Bonita Ave is a charming five-unit apartment building located in the highly desirable Fairfax District. There is a tremendous opportunity for accessory dwelling units (ADUs). Built in 1938, the property features four 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit that will be delivered vacant, totaling 3,870 square feet on a 6,500-square-foot LARD1.5 lot. Situated on a quiet street, it offers residents the perfect blend of historic character and central city convenience, just minutes from iconic destinations like The Grove, the Farmers Market, LACMA, and the popular retail and dining options along Melrose and La Brea Avenues. Residents benefit from easy access to Beverly Hills and West Hollywood, along with separately metered utilities, covered three-car garage parking, and additional rear parking. With its walkable location and timeless architectural appeal, this property presents a compelling value-add or owner-user opportunity. Once the vacant unit is leased, the property will be generating approximately $12,085 in monthly income operating at a 5.3% cap rate with upside of approximately 7%, not including the tremendous upside of accessory dwelling units.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5526031019
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Listed by Archie Robb • Keller Williams Realty La Canada Flintridge
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