Casa del Sol is a rare investment opportunity at 1226 Smithwood Dr., located in the highly desirable rental market of Pico-Robertson. The property consists of 4 spacious two-bedroom and one bath units of approximately 1,200 square feet.
This unique, value-added investment offers a highly attractive $358 price per square foot and the best in-place cap rate currently available for sale in Pico-Robertson at 5.59%. The in-place 12.67 gross rent multiplier is also quite alluring to any investor looking to acquire such an asset in this location.
Built in 1931, this fourplex features Spanish Colonial style architecture. The building is constructed with a wood-frame structure, a flat roof with some partial pitched tile portions, and a painted stucco exterior, totaling ±5,656 square feet on a ±6,602 square foot lot zoned R3. Each unit includes hardwood floors throughout, with tile floors in the kitchen and bathrooms, in-unit washer and dryer, a decorative fireplace, a Juliet balcony, and an individual water heater.
Casa del Sol has not changed ownership since 1973. With tremendous value-add potential through updating, capital expenditures, and possibly adding an ADU, this property presents an exceptional opportunity to elevate its appeal and pride of ownership. The units are individually metered for gas and electricity, while the owner covers water, trash, and landscaping expenses.
Pico-Robertson is an affluent neighborhood located directly south of Beverly Hills in Los Angeles. The community feels very family-oriented and welcoming, with many residents living in the area for years or even decades. Much of Pico-Robertson is an incorporated community, so residents enjoy access to private parks and a high standard of living. Well-maintained streets, picturesque landscaping, and charming homes define this neighborhood. Residents enjoy proximity to the Hillcrest Country Club, the Rancho Park Golf Club, the Museum of Tolerance, Westfield Century City Mall, and Rodeo Drive.
Those renting upscale apartments in Pico-Robertson have easy access to the surrounding west side of Los Angeles, with its great shopping, dining, and entertainment Options. 1226 Smithwood Dr is within walking distance of the Beverly Hills border. It boasts a 92 Walk Score given its proximity to shops and restaurants. Yet, it is situated on a residential tree-lined street, which holds considerable appeal to nearly any renter.
Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.
