Active
1945 S Garth AVE
LOS ANGELES CA, 90034
$5,150,000
$391.22 per sqft
Active
7 Beds
5 Baths
13,164 sqft
Multi-family
Built in 1964
1945 South Garth Avenue is a 14-unit extensively renovated apartment building built in 1964. Located north of Cadillac Avenue, between Robertson Boulevard and La Cienega Boulevard. 1945 South Garth caters perfectly to its renters pool as the building is made up of large style units. The subject property consists of two (2) 2-bedroom / 1-bathroom units, ten (10) 2-bedroom / 2-bathroom units, and two (2) 3-bedroom / 2-bathroom units. Current ownership has meticulously renovated ten units with finishes not typically seen in this submarket, these renovations include new laminate wood-plank flooring, stainless steel appliance packages, modernized interior paint schemes, custom shaker cabinets, recessed lighting, new fan/wall-AC units, new tile, and custom vanities in bathrooms. Additional upside can be realized by renovating the remaining classic units and capturing roughly ~53% upside in rents. Current ownership has also maintained and upgraded the property s building systems and exterior faade, including new windows throughout, recently replaced roof, fresh painting, updated lighting/ signage package, landscaping, and compliance with the mandated soft-story requirements (buyer to verify) by the City of Los Angeles, with a Certificate of Compliance in hand. These upgrades allow a subsequent buyer to focus on income-generating improvements, minimizing the upfront CapEx typically reserved for building systems. Situated in a convenient centralized location, 1945 South Garth benefits from neighboring submarkets and the substantial growth surrounding the property. Less than two miles to the south is Los Angeles most exciting submarket: Culver City. The recent expansion and desirability of Culver City are attributed to the corporate confidence in the area, with Amazon, Apple, and HBO establishing a presence and showing no signs of slowing down. Consequently, a dramatic development pipeline has been established to meet the housing demand expected in Culver City and surrounding submarkets. Garth s neighboring submarkets include Beverlywood to the west, Pico-Robertson to the north, and West Adams to the east. All have undergone significant transformations and experienced surges in property values, making the subject property not only desirable but also affordable relative to surrounding submarkets with similar locational amenities.
OC24148529MR
MLSⓇ ID
July 12, 2024
Listed
October 2, 2024
Updated
Map
1945 S Garth AVE
LOS ANGELES CA, 90034
Interior Features
Total Stories
2
Bedrooms
7
Total Bathrooms
5
Laundry Description
Community
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Beverlywood Vicinity
Days on Market
25
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LARD2
Listed by Steven Goldstein with NorthMarq Realty Services, Inc
Listing Contact: 561-706-1926
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©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 10/2/2024