714 W College Street, Los Angeles, CA 90012
-
Sold Price :
$1,075,000
-
Beds :
15
-
Baths :
8
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Property Size :
5,803 sqft
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Year Built :
1971
Property Description
First time on the market in over 40 years, this property presents a tremendous investment opportunity with the potential for significant value appreciation. The current owners have generously kept rents low for their long-term tenants, providing a savvy investor the chance to reposition the property and capture almost three times the current rental income as tenants vacate. Mostly in its original condition, this building offers ample potential for strategic renovations and modernizations over time. Ideally situated in the Chinatown neighborhood, 714 W College Ave is just minutes from Downtown Los Angeles. Located between the 101 and 110 Freeways and close to Union Station, it boasts seamless connectivity to various parts of the city and easy access to major employment centers. Additionally, it's a short drive from L.A. Live, the LA Convention Center, Crypto.com Arena, and Dodger Stadium. According to LADBS, this property does not require an earthquake soft story retrofit (Buyer to Verify), which eliminates a potentially costly and complex burden, allowing the buyer to focus on capital improvements that will directly increase rental income. The property also features tuck-under parking accessible via College Street, with space for seven vehicles, and access from both College St and New Depot Street, providing convenient access for tenants regardless of their unit location. This well-located property with tremendous upside potential offers a compelling opportunity for investors with a long-term perspective.
Interior Features
| Bedroom Information |
| Bedrooms |
15 |
| Bathroom Information |
| Bathrooms |
8 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
714 W College Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90012 |
| County |
Los Angeles |
| Listing Agent |
Saadia 'Sam' Liberow DRE #01933858 |
| Courtesy Of |
Marcus & Millichap |
| Close Price |
$1,075,000 |
| Status |
Closed |
| Type |
Residential Income |
| Structure Size |
5,803 |
| Lot Size |
5,588 |
| Year Built |
1971 |
Listing information courtesy of: Saadia 'Sam' Liberow, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Aug 22nd, 2024 at 6:54 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
