701 Vernon Ave Los Angeles, CA 90037
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40-unit apartment building, Los Angeles.
Property size:
22,794 SFProperty Features for 701 Vernon Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 22,794 SF
Building Details
- Stories
- 4
- Units
- 40
Listing Agency: Commercial Real Estate Investments Listing Agent: Karl Niehaus
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional multifamily investment opportunity presents a 40-unit apartment building located at 701 & 649 W. Vernon Ave, Los Angeles, CA 90037. The property boasts a total of 22,794 square feet and sits on a 9,619 square foot lot. The building is a four-story structure, zoned C2-1VL-CPIO, and comprises 40 units. The unit breakdown includes 6 Type V-A units designated for low-income residents under Schedule VI, 33 units for low-income residents under Schedule I, and 1 manager's unit. This entirely privately funded project, without tax credits or public housing involvement, offers a unique investment prospect in a prime location approximately one mile from the University of Southern California (USC). The property's APN is 5019-009-030. This is a pre-RTI (Rent-to-Income) project, offering a strong potential for future appreciation. The asking price for this significant multifamily asset is $3,000,000. This represents a compelling opportunity to acquire a well-positioned, affordable housing complex in a thriving Los Angeles neighborhood. The property's location and the strong demand for affordable housing in the area make this a highly attractive investment.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2858739
- Latitude
- 34.0039912
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FAQs
What type of property is this?
Multifamily property - 40-unit apartment building, Los Angeles.
Where is this multifamily property located?
The property is located at 701 Vernon Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 40-unit apartment building at 701 & 649 W. Vernon Ave, Los Angeles, CA 90037.; 22,794 square feet on a 9,619 square foot lot; four-story building.; Zoned C2-1VL-CPIO; unit mix includes 6 Type V-A, 33 Schedule I low-income units, and 1 manager's unit.
