The Chateau

Los Angeles, CA 900191106-1108 S. Cochran Ave.

Property Type: Multifamily/Residential
For Sale

Details

  • Price: 2,000,000
  • Cap Rate: 3.20%
  • GRM: 21.90
  • Cost per SF: $440.33
  • Cost per unit: $500,000
  • Year Built: 1936
  • Square Footage: 4,542
  • Lot Size: 6,898
  • Units: 4
  • No. Stories: 2
  • Parking: 4 Enclosed Garages
  • Transaction Type: For Sale
  • Property Type: Multifamily/Residential
  • Zoning: LAR3
  • Building Class: C
  • APN/Parcel ID: 5084-017-033

Property Description

1106 S. Cochran Avenue is a magnificent French-Normandy Style fourplex located in the highly coveted Miracle Mile neighborhood of Los Angeles. The investment opportunity presents an ideal income property for either an owner user or an astute investor looking to acquire a 50% vacant value add asset.

The property is comprised of 4 units in one two-story building which was constructed in 1936. This exquisite building totaling 4,542± building square feet is constructed of wood frame, flat roof, and painted plaster exterior with brick accent. The property is situated in the Historic Preservation Overlay Zone (HPOZ) on a large 6,898 ± square foot lot and zoned LAR3. HPOZ allows for a potential property tax reduction. Buyer to verify.

These extremely spacious units at S. Cochran Avenue, two of which will be delivered vacant, average 1,135± square feet. The units are comprised of (2) 2 Bedroom + 1 Bath and (2) 1 Bedroom + 1 Bath units. Units are equipped with washer & dryer hookups, vaulted ceilings on 2nd floor and central A/C in select units. All units offer individual hot water heaters and are separately metered for gas and electricity. In addition to the charming architecture and well-preserved original in-unit amenities, units offer a front and rear unit entrance / exit, laundry room, pantry room, dining area, plenty of storage space and their own detached private enclosed garage.

Aesthetically, the property grounds and building are well maintained and attractive, offering immense curb appeal with the opportunity to further improve the property and increase the annual NOI.

1106 S. Cochran Avenue is located in one of the most desirable submarkets of Los Angeles known as Miracle Mile and adjacent to Little Ethiopia and Mid-Wilshire. Located on the 1100 block of S. Cochran Avenue, the property is situated between West Olympic Boulevard and South San Vicente Boulevard, just west of South La Brea Avenue.

The property is ideally located within close proximity to The Grove, Los Angeles County Museum of Art (LACMA), The La Brea Tar Pits, the new Los Angele Metro Line, as well as a host of trendy restaurants, shopping and public transit making it a highly desirable location to live.

In addition, 1106 S. Cochran Avenue is a central Los Angeles location and minutes to Beverly Hills, Culver City, Downtown Los Angeles and Hollywood, making this property the ideal location to call home and a pride of ownership investment.

Property Highlights

  • Offered at $2,000,000
  • 2 Units to be delivered vacant
  • Individual hot water heaters and separately metered for gas & electric
  • Located in HPOZ, potential property tax reduction eligible
  • Excellent unit mix of (2) 2 Bedroom + 1 Bath (2) 1 Bedroom + 1 Bath
  • Average unit square footage 1,135±
  • Vaulted ceilings, central A/C (select units), in-unit laundry rooms
  • Individual and enclosed 4 car garages

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23975 Park Sorrento Suite 110
Calabasas, CA 91302