$5,575,000
For more information regarding the value of a property, please contact us for a free consultation.
24 Beds
24 Baths
16,534 SqFt
SOLD DATE : 04/05/2024
Key Details
Sold Price $5,575,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 16,534 sqft
Price per Sqft $337
MLS Listing ID 23340855
Sold Date 04/05/24
Bedrooms 24
HOA Y/N No
Year Built 1961
Lot Size 0.459 Acres
Property Description
See DOCs section for OM. Property Description: 1540 Laurel St is a sixteen (16) unit apartment building consisting of eight (8)1bed+1bath units and eight (8) 2bed+2bath units. The property is a two-story16,534 square-foot garden style walk-up building with brick and wood frame and stucco construction situated on a large 19,992 square-foot lot. The excellent layout of the common area and the striking amount of warm landscaping creates a tranquil environment that provides the perfect opportunity for an investor to complete their own renovation plan in the units and significantly increase rents. The property also features a very well maintained pool with outdoor shower and central atrium area that while well landscaped, could be better utilized by including soft seating and a bbq area. The exterior of the building is lined with lattice woodwork features including a trellis in the atrium courtyard. Gated at grade garage parking includes 26spaces and a secure laundry room with newly updated machines. The walk-up entry in the front includes a secure keypad. Unit Details: All the units are very large and feature open kitchens, large bedrooms, and ample storage space. The units are very well maintained and most feature original finishes, providing a blank canvas for a new investor. Each ground floor unit features a private fenced off patio area and two of the larger units (13 and15) also feature their own complete large backyard space. A handful of units have central air, and the many feature wall AC units. All the units are separately metered for electricity and gas and the landlord pays for water/sewer and trash. The garage features 16 storage spaces in addition to a fully functioning dumbwaiter and trash chute. There is an additional large, paved area on the west side of the property that could be enclosed to use for additional tenant entertainment space.
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Zoning SPR310000*
Interior
Fireplace No
Exterior
Parking Features Gated
Total Parking Spaces 26
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5319006025
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Josh Kaplan • Transwestern Property Company West, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
25101 The Old Road Suite 240, Ranch, Ca, 91381, United States