Homes for sale - 712 S Stanley AVE, Los Angeles, CA 90036

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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,725,000

Est. payment - /mo

10 Beds

8 Baths

6,950 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,950 sqft

Price per Sqft $392

MLS Listing ID 25528659

Bedrooms 10

HOA Y/N No

Year Built 1928

Lot Size 6,965 Sqft

Property Description

We are excited to present a unique opportunity to purchase 712 S Stanley Ave, a fully vacant 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles. Constructed in the 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 6,950 and is situated on a 0.16-acre (6,963 sq ft) lot. This property includes two spacious 2-bedroom, 2-bathroom units each approximately 1,350 sq ft and two very large 3-bedroom, 2-bathroom units, each approximately 1,950 sq ft. A key highlight is the full vacancy of the property upon purchase, allowing for immediate renovations and leasing, thereby enabling investors to realize the property's full income potential after their renovation is completed. This is particularly significant as the property falls under LA's rent control ordinance (RSO), which would restrict renovation activities until existing tenants vacate the premises. A great value-add strategy to consider is adding bedrooms and/or bathrooms to each of these oversized units. Depending on the floor plan and buyer's vision, it's very feasible to transform the 2 bed units into 3 bed units, and the 3 bed units into 4 bed units, without having to add any square footage. The asset benefits from its designation within an HPOZ (Historic Preservation Overlay Zone), offering potential tax advantages, and also benefits from favorable R3 and TOC zoning, which could present an opportunity for future redevelopment, depending on HPOZ restrictions (buyer to verify). 712 S Stanley Ave is optimally located just south of Wilshire Boulevard, in the heart of Miracle Mile - an area renowned for its cultural, dining, and shopping amenities. With a Walk score of 92, the neighborhood is a veritable "walker's paradise", offering residents an array of nearby conveniences and an outstanding quality of life. The property's location is further bolstered by its proximity to a brand-new metro station, currently under construction. This transit connectivity significantly enhances access to the wider LA area and beyond, making it an ideal location for commuters. It's approximately 1 mile from The Grove, LA's premier shopping and dining destination, featuring a mix of high-end retailers and unique boutiques, alongside world-class dining options, offering a desirable lifestyle for potential tenants. This property, with its historic charm, substantial square footage, zoning advantages, and superior location, offers an exceptional investment opportunity to maximize income potential and capital appreciation in the highly coveted Miracle Mile area.

Location

State CA

County Los Angeles

Area C19 - Beverly Center-Miracle Mile

Zoning LAC2

Interior

Heating Central

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Uncovered

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5089010023

Special Listing Condition Standard

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Listed by Vangelis Korasidis • Coldwell Banker Realty

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