SALES

2677 Moss Ave., Los Angeles, CA 90065 - 7 Unit Multi-Family

Lilly Enterprises, Inc., as the exclusive listing agency, is pleased to present for sale a 7 unit value-add apartment complex located in Los Angeles (Glassell Park), CA.  The property resides along Eagle Rock Blvd., a few miles southwest of Eagle Rock's Occidental College.  Glassell Park is an LA sub-market north of Downtown LA, which is bordered by Glendale, Silver Lake, Eagle Rock, Highland Park, Cypress Park, Mt. Washington and Atwater Village.  Its centralized LA County location provides extended proximity to Hollywood, Koreatown, Downtown LA, Monterey Park, Alhambra and Pasadena.  The area itself is a hilly neighborhood with modest homes and fashionable neighbors, serviced by many locally owned eateries and shopping boutiques.  Residents are further benefited by public transportation and quick access to the 2 and 5 Freeways.  This continually flourishing sub-market coupled with a property generating income ±130% well-below market, presents an investor with a considerable opportunity worth seizing.

In recent years the owners have spent significant funds performing repairs to the exterior.  In addition to re-landscaping the front, re-painting the entire building, installing seismic gas shut-off valves and completing soft-story seismic retrofit (permitted 03/2020).  The majority of the interiors require full renovation.  There are 7 parking spaces equally assigned to each unit (at no cost to tenant).  There is a dedicated on-site laundry room, which currently has no machines.  Charging for parking and providing laundry machines are opportunities to immediately enhance yield.  Additionally, market rents are projected at $2,100 for all the 2BR units after full renovation, which equates to ±130% in rental upside.  The property is subject to The City of LA Rent Stabilization Ordinance (RSO).

8242 Santa Monica Blvd., West Hollywood, CA 90046 - 3,859 SF Retail Property

Please do not disturb the tenants.  Property being sold in as-is condition.  Property inspection & due diligence material provided upon an accepted offer. Seller’s relative occupies one of the units. The marketing information has been secured from sources believed to be reliable, however Agent/Broker make no representation or warranties, express or implied to the accuracy of this information.  References to square footage, age, or pro-forma expectations are approximate.  Buyer must verify and bears all risk for any inaccuracies.

817 N Madison Ave., Los Angeles, CA 90029 - 7 Unit Multi-Family Property

Lilly Enterprises, Inc., as the exclusive listing agency, is pleased to present for sale 817 N Madison Avenue, a 7 unit apartment offering in Los Angeles (East Hollywood), CA.  Deferred maintenance and under market rents (± 300% in rental upside), present an investor with the possibility to achieve long term growth through turnover and renovation.  The property is subject to The City of LA Rent Stabilization Ordinance (RSO), which supersedes the Assembly Bill 1482 "Tenant Protection Act of 2019."  The property is not subject to The City of LA Soft-Story Retrofit Program.  

Two separate structures reside on a single ± 7,500 SF lot with a triplex in the front and a quad in the rear.  There are 3 undesignated and unassigned parking spaces, which can all be gated from the front entry.  A large common area patio resides in the rear, which is currently being used as an outdoor fitness space.  Plumbing is a combination of galvanized in the front and copper in the rear.  The roof was replaced within the last year.  Unit sizes range from ± 675 SF for the 1BR/1BA's and ± 775 SF for the 2BR/1BA's.  Each unit is serviced by individual wall heaters and water heaters.  Landlord is responsible for water, sewer and electric.  Tenants are responsible for gas.

817 N Madison is located 2 blocks NE of N Vermont Ave. & Melrose Ave., one block E of Los Angeles City College.  Residents are serviced by close proximity to neighborhood amenities, eateries, shopping, public transportation and convenient access to the 10 and 110 Freeways.  The East Hollywood neighborhood of Los Angeles is located in the Central Los Angeles region and is surrounded by other vibrant neighborhoods such as Hollywood, Larchmont, Koreatown, Silver Lake and Los Feliz.

Please do not disturb the tenants.  Property being sold in as-is condition.  Property inspection & due diligence material provided upon an accepted offer. Seller’s relative occupies one of the units. The marketing information has been secured from sources believed to be reliable, however Agent/Broker make no representation or warranties, express or implied to the accuracy of this information.  References to square footage, age, or pro-forma expectations are approximate.  Buyer must verify and bears all risk for any inaccuracies.

2826 Meeker Ave., El Monte, CA 91732 - 21 Unit Trailer Park

Please do not disturb the tenants.  Property being sold in as-is condition.  Property inspection & due diligence material provided upon an accepted offer. Seller’s relative occupies one of the units. The marketing information has been secured from sources believed to be reliable, however Agent/Broker make no representation or warranties, express or implied to the accuracy of this information.  References to square footage, age, or pro-forma expectations are approximate.  Buyer must verify and bears all risk for any inaccuracies.

8344-8348 Beverly Blvd., Los Angeles (Beverly Grove), CA 90048 - 5,004 SF Retail Property

Lilly Enterprises, Inc., as the exclusive listing agency, has been exclusively retained as the listing agent for 8344-8348 Beverly Boulevard in Los Angeles. 8344-8348 Beverly Boulevard is a storefront retail building encompassing approximately 5,004 square feet on a 5,993 square foot lot. The property currently houses two tenants. Both Tenants have below market Leases. King’s Road beads expires in December 18, 2022, and Maison runs through April 30,2021 with (1) two year option. There is tremendous upside in rents upon lease expiration.

This site sits directly between The Grove and The Beverly Center on Beverly Boulevard, one of Los Angeles’ hippest shopping and dining destinations, and just two blocks from the heavily trafficked corner of La Cienega and Beverly Boulevard.

Beverly Boulevard is a hip shopping and dining destination adjacent to Beverly Hills and West Hollywood. Nic’s on Beverly, Blue Bottle Coffee, and the infamous Uncle Paulie’s Deli are all within short walking distance of the site. The property is less than a 3 minute drive to The Grove, The Farmers Market, The Beverly Center, and Cedars Sinai. Nearby Cedars Sinai Hospital has a staff of over 14,000 employees including 2,000 physicians. This site is also adjacent to a highly populated residential neighborhood and has great foot traffic on both weekdays and weekends.

Please do not disturb the tenants.  Property being sold in as-is condition.  Buyer to cooperate in effectuating Seller's 1031 Tax Deferred Exchange.  Property inspection & due diligence material provided upon an accepted offer. The marketing information has been secured from sources believed to be reliable, however Agent/Broker make no representation or warranties, express or implied to the accuracy of this information.  References to square footage, age, or pro-forma expectations are approximate.  Buyer must verify and bears all risk for any inaccuracies. 

6633 & 6639 N Sepulveda Blvd., Van Nuys, CA 91411 - 8 Unit Multi-Family Property

Lilly Enterprises, Inc., as the exclusive listing agency, is pleased to present for sale (for the first time in over 30 years) 6633 and 6639 N Sepulveda Blvd., a combined two (2) quadraplex offering situated across a large double lot totaling ±18,600 SF in Van Nuys, CA.  The offering presents numerous options (owner occupy, buy and hold, redevelopment, fixer-upper, ADU add-on) for an investor (new or experienced) to acquire a very well-maintained and stable asset with ±45% in rental upside (stabilized ±5.75 CAP & ±12.5 X) achievable through unit turnover and renovation.  The property is subject to The City of LA Rent Stabilization Ordinance (RSO), which supersedes the new Assembly Bill 1482 "Tenant Protection Act of 2019."  The property is not subject to The City of LA Soft-Story Retrofit Program.  There is a possibility to finance both properties individually as residential loans (confirm with your lender). 

The building comes with little deferred maintenance and most major components (i.e. the roof, electrical, plumbing and foundation) are in fair condition.  Building amenities include an on-site laundry room (leased machines), overhang storage cabinets for each unit, four (4) garage doors with each door containing two (2) parking spaces, three (3) additional uncovered parking spaces and two (2) large enclosed front yards. The building is serviced by individual wall/floor heaters and furnaces.  The owner is responsible for water/sewage and tenants are responsible for gas, electric and trash.  The 1BR/1BA units are approximately 850 SF and the 2BR/1BA units are approximately 950 SF.  The most recently renovated units included granite countertops, remodeled bathrooms and refinished hardwood floors.  Both building exteriors and the laundry room were recently repainted.

6633 and 6639 N Sepulveda Blvd. are located between Vanowen St. and Victory Blvd., roughly 6 blocks E of the 405 Freeway.  Both properties reside along smaller N Sepulveda Blvd., which is divided from the busy and major Sepulveda Blvd.  Abutting both properties to the W is an upscale Van Nuys neighborhood.  One block N and S are 2 large residential developments currently underway. Within close distance are numerous national operators such as Costco, Target, CVS, 99 Ranch, Office Depot, Petco, amongst many others.  2 major blocks E along Van Nuys Blvd. is the upcoming $1.3B Metrolink Van Nuys Blvd. Light Rail Project, which is scheduled to break ground in 2021 and be completed by 2027.  In advance of the construction start date, The City of LA is already taking steps to plan for new development surrounding each of the 14 stations that will run along the 9.2 mile line, terminating at the Sylmar Metrolink Station to the N and the Orange Line Busway to the S.  Van Nuys is a neighborhood within the San Fernando Valley region of Los Angeles County, surrounded by Panorama City, North Hills, Northridge, Lake Balboa, Sepulveda Basin, Sherman Oaks, Valley Glen and Sun Valley.

Please do not disturb the tenants.  Property being sold in as-is condition.  APN #’s 2234-017-015 & 2234-017-016 must be sold together. Buyer to cooperate in effectuating Seller's 1031 Tax Deferred Exchange.  Property inspection & due diligence material provided upon an accepted offer. The marketing information has been secured from sources believed to be reliable, however Agent/Broker make no representation or warranties, express or implied to the accuracy of this information.  References to square footage, age, or pro-forma expectations are approximate.  Buyer must verify and bears all risk for any inaccuracies.