205 5Th Ave Los Angeles, CA 90291

Property Details for 205 5Th Ave

Year built

1929

Property size

2,743 SF

Property type

Apartment buildings

Description

This stunning Spanish-style duplex, located in Los Angeles' vibrant Rose Corridor between Venice and Santa Monica, presents a unique investment opportunity. The property features two units totaling 2,743 square feet on a 4,139 square foot lot. The downstairs unit, a spacious 2-bedroom, 2-bathroom residence, boasts hardwood floors, arched doorways, an original fireplace, and a separate bonus room ideal for a home office or guest quarters. Upstairs, a completely remodeled 3-bedroom, 2-bathroom unit with an open floor plan and private balcony offers city and treetop views. Currently, one unit is occupied, resulting in a 50% occupancy rate and a pro-forma NOI of $100,800, yielding a 4.04% pro-forma cap rate. Additional amenities include a detached garage, gated parking, a deck, and a courtyard. Built in 1929, this property sits on a lot with APN 4240-007-024 and is zoned LARD2. The asking price is $2,495,000, or $1,247,500 per unit. This property offers the potential for owner-occupancy, rental income, or further development, given its prime location near the beach, Whole Foods, parks, and numerous restaurants and shops. The property's classic elegance combined with modern upgrades makes it a truly exceptional investment. The vacant unit provides immediate income potential, while the occupied unit generates consistent cash flow. This is a rare opportunity to acquire a well-maintained, high-demand property in a highly desirable location.