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$4,200,000

Est. payment - /mo

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40 Beds

13 Baths

5,800 SqFt

New

560 N Virgil AVE Los Angeles, CA 90004

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The Brandon Drew Group

financing@tbdgmortgage.com +1(909) 944-8800

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,800 sqft

Price per Sqft $724

MLS Listing ID 25541879

Bedrooms 40

HOA Y/N No

Year Built 1921

Lot Size 10,502 Sqft

Property Description

We are pleased to present a forty (40) bedroom single room occupancy (SRO) community located at 560-564 N Virgil Avenue in Los Angeles, California. The subject property is located in a prime Virgil Village location, south of Melrose Avenue and east of Vermont Avenue. Built in 1912 and 1921, this forty (40) bedroom community is located in the heart of Virgil Village, one of Los Angeles' most dynamic and in-demand neighborhoods. Positioned on a large 10,501SF double lot, this property generates a strong 8.46% cap rate through a lease with PATH and offers investors very high cash flow from day one with an opportunity to build out ADUs in the back of the property. The building features modern communal amenities including a stainless steel-equipped kitchen, shared bathrooms, dining and living rooms, as well as common area laundry. The property consists of forty (40) bedrooms as an SRO play split across two (2) APNs. 564 N Virgil Ave to the north consists of twenty-five (25) bedrooms, one (1) kitchen, and seven (7) bathrooms. 560 N Virgil Avenue to the south consists of fifteen (15) bedrooms, three (3) kitchens, six (6) bathrooms. A majority of the leases provide rental subsidies through PATH. Nestled in a prime Virgil Village Location, this offering presents an excellent opportunity for any investor to capitalize on a very high 8.46% cap rate leased through PATH with some value add remaining.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5539029030

Special Listing Condition Standard

Listed by Jason Tuvia • Marcus & Millichap

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