CA > Los Angeles
Los Angeles, CA 90019,1128 Masselin AVE
Los Angeles, CA 90019,1128 Masselin AVE
Los Angeles, CA 90019,1128 Masselin AVE
Los Angeles, CA 90019,1128 Masselin AVE
Los Angeles, CA 90019,1128 Masselin AVE
Los Angeles, CA 90019,1128 Masselin AVE
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sat
26
Apr
Sun
27
Apr
Mon
28
Apr
Nicole Raach

Nicole Raach

+1(661) 309-5806
$ 2,995,000
Est. payment | /mo

12 Beds

12 Baths

9,206 SqFt

Save
$ 2,995,000
Est. payment | /mo
Save

12 Beds

12 Baths

9,206 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,206 sqft

Price per Sqft $325

MLS Listing ID 25529795

Bedrooms 12

HOA Y/N No

Year Built 1948

Lot Size 0.287 Acres

Lot Dimensions Assessor

Property Description

Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.

Location

State CA

County Los Angeles

Area C19 - Beverly Center-Miracle Mile

Zoning LAR3

Interior

Flooring Wood

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 9.0

Garage Description 9.0

Community Features Gated

Total Parking Spaces 9

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5085005010

Security Features Gated Community

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by James Respondek • Rodeo Realty - Pacific Palisades
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 309-5806

nraach@gmail.com

GET MORE INFORMATION

Name
Phone*
Message
I agree by electronic signature to the Electronic Disclosure Consent; to receive recurring marketing communication from or on behalf of Nicole Raach, including auto-dialed calls, texts, and artificial/prerecorded voice messages (consent not required to make a purchase; data rates may apply; reply “STOP” to opt-out of texts or ‘HELP” for help); and to the Terms of Service and Privacy Policy of this website. I understand that I can call to obtain direct assistance.

Go tour this home

1128 Masselin AVE