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 façade, 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.
DAYS ON MARKET
|
103
|
LAST UPDATED
|
10/15/2024
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YEAR BUILT
|
1964
|
COMMUNITY
|
Beverlywood Vicinity
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
AREA |
Beverlywood Vicinity |
LOT |
0.29 acre(s) |
LOT DESCRIPTION |
Rectangular Lot |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
WATER |
Public |
ZONING |
LARD2 |
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Listed with NorthMarq Realty Services, Inc
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 6:22 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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