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331 S Detroit St

Los Angeles, CA 90036
  • $2,750,000
  • STATUS: Active Under Contract
  • ON SITE: 41 Days
  • MLS #: 21-782602
Under Contract
UPDATED: 192 min ago
$2,750,000
  • 10
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,699
    SQFT
  • $411
    $/SQFT
Type:
Multi-Family
Built:
1929
County:

School Ratings & Info

Description

331 S.Detroit Street, a 4-unit apartment building located in a highly desirable residential neighborhood of Miracle Mile, Los Angeles. The property is comprised of 6,699 rentable square feet and consists of Two (2) Two-bedrooms/One-Bath, and Two (2) Three Bedrooms/Two- Baths units. All units are considerably large with an average size of approximately 1,700 square feet and features in-unit laundry, walk-in closets, high ceilings, and two side-by-side parking spaces. The large units, in combination with the unique sought-after features that they offer, create a perfect opportunity for an investor, or someone looking to live on-premises. With a Walk Score of 88, the location not only provides residents ideal proximity to a myriad of entertainment venues, cultural destinations, and world-class dining but also happens to be nearby to a variety of new, high-quality developments in the works. Between Hackman Capital in the process of redeveloping the massive 25-acres CBS Television Studio lot, the Onni Group is currently working to reposition the one-million square-feet Wilshire Courtyard business park, and the Metro Purple Line in the midst of a westward expansion running through Miracle Mile, the surrounding areas will surely benefit from the alterations in more ways than one. Given the property's prime Miracle Mile location and anticipated future developments in the area, 331 S. Detroit Street is an ideal investment for investors seeking a value-add opportunity that will undoubtedly appreciate tremendously over time.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T23:42:37.967. 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.
www.deserthouseseekers.com/homes/121342466
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331 S Detroit St Los Angeles, CA 90036

  • Price: $2,750,000
  • Status: Active Under Contract
  • Updated: 192 min ago
  • MLS #: 21-782602
10
Beds
0
Baths
0
½ Baths
0.18
Acres
6,699
SQFT
$411
$/SQFT
1929
Built
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
Beverly Center-Miracle Mile
Property Description
331 S.Detroit Street, a 4-unit apartment building located in a highly desirable residential neighborhood of Miracle Mile, Los Angeles. The property is comprised of 6,699 rentable square feet and consists of Two (2) Two-bedrooms/One-Bath, and Two (2) Three Bedrooms/Two- Baths units. All units are considerably large with an average size of approximately 1,700 square feet and features in-unit laundry, walk-in closets, high ceilings, and two side-by-side parking spaces. The large units, in combination with the unique sought-after features that they offer, create a perfect opportunity for an investor, or someone looking to live on-premises. With a Walk Score of 88, the location not only provides residents ideal proximity to a myriad of entertainment venues, cultural destinations, and world-class dining but also happens to be nearby to a variety of new, high-quality developments in the works. Between Hackman Capital in the process of redeveloping the massive 25-acres CBS Television Studio lot, the Onni Group is currently working to reposition the one-million square-feet Wilshire Courtyard business park, and the Metro Purple Line in the midst of a westward expansion running through Miracle Mile, the surrounding areas will surely benefit from the alterations in more ways than one. Given the property's prime Miracle Mile location and anticipated future developments in the area, 331 S. Detroit Street is an ideal investment for investors seeking a value-add opportunity that will undoubtedly appreciate tremendously over time.
Exterior Features

Exterior Construction Stucco Lot Size Area 7801 Other Structures None Parking Garage Covered Parking Total Parking 8

Interior Features

Baths Total 6.00 Cooling Window Unit(S) Equipment DryerWasher Heating None Laundry In Unit Laundry Equipment Own

Property Features

Assessed Total Value 683541 Gross Income 130368 Gross Operating Income 126457 Like Units1 2 Like Units2 2 Net Operating Income 78380.00 Number Of Buildings 1 Number Of Units 4 Owner Pays GardenerWater Rent Control YN No Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 48077 Type Of Units Apartments Water Heaters YN Yes Year Built Source Assessor Zoning Lar4

Listing provided courtesy of Saadia 'Sam' Liberow DRE#01933858 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T23:42:37.967. 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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