UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25098155
HOA Y/N No
Year Built 1947
Lot Size 0.310 Acres
Property Sub-Type Apartment
Property Description
Positioned as a core cash-flow asset with remaining value-add upside, Las Casitas offers both immediate income and future growth potential. Priced to move at a compelling ~6.42% Cap Rate, this is a rare opportunity to acquire a strong-performing asset in a quality rental market at an attainable loan-to-value.
The property spans ±7,234 SF of improvements on an expansive ±13,400 SF LARD2-zoned lot, consisting of:
+ A front house built in 1947
+ Two apartment buildings constructed in 1964
Construction is wood and stucco, with exterior paint completed in recent months. The front house has had several major upgrades in recent years, including:
+ Newer roof
+ Updated A/C
+ Newer water heater
Most apartment units feature tile flooring for ease of maintenance, and nearly all have newer hot water heaters. The apartment building roof is approximately 10 years old and has been regularly maintained.
Parking & Layout
The property is well parked, with:
+ A 2-car garage attached to the front home
+ 4 tandem spaces + 3 single spaces = 13 total parking spaces
Unit Mix, Amenities & Upside Potential
+ 6 (2+1.5) townhome-style units
+ 1 (4+1.5) single-family home
Each apartment unit features its own private, enclosed yard or patio, supporting higher tenant satisfaction and rental premiums. With rents still below market in several units, the property offers room for rental increases through gradual turnover and light interior upgrades.
At the rear of the property are two 10'x12' storage sheds of high Home Depot quality. One is rented for $150/month; the other will be available, with market rent potential of $250/month or more.
Efficiency & Cost Control
+ Separately metered for gas and electric (no house meter)
+ Trash service is included in LADWP and billed to tenants
+ Low-maintenance, drought-tolerant landscaping keeps operating costs minimal
Las Casitas is a turnkey, low-maintenance asset that balances current performance with future upside. Whether you're seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD2
Interior
Heating Central
Fireplace No
Laundry None
Exterior
Parking Features Tandem, Uncovered
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Urban
Total Parking Spaces 13
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2317014010
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
Virtual Tour https://www.youtube.com/watch?v=uHjL5gLxiI8
