712 S Stanley Ave Los Angeles, CA 90036

Property Details for 712 S Stanley Ave

Year built

1928

Lot size

0.16 lot acres

Property size

6,950 SF

Property type

Commercial real estate

Description

This fully vacant, four-unit apartment building presents a compelling value-add investment opportunity in Los Angeles' coveted Miracle Mile district. Situated on a 0.16-acre lot, the property boasts 6,950 square feet of net rentable space, encompassing two spacious two-bedroom, two-bathroom units (approximately 1,350 sq ft each) and two large three-bedroom, two-bathroom units (approximately 1,950 sq ft each). Built in 1928, this two-story building benefits from its location within a Historic Preservation Overlay Zone (HPOZ), offering potential tax advantages. The property's current asking price is $2,995,000, representing a price per unit of $748,750 and a price per square foot of $430.94. The current NOI is $195,100, resulting in a 6.51% cap rate. The full vacancy allows for immediate renovations and leasing, maximizing income potential. The property's zoning (LAC2) may allow for redevelopment, subject to HPOZ restrictions (buyer to verify). Its prime location, with a Walk Score of 92, offers easy access to shopping, dining, and cultural amenities, including proximity to a new metro station and The Grove. This combination of historic charm, substantial size, zoning flexibility, and exceptional location makes this a unique opportunity for significant capital appreciation and income generation.