Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Building size

4,516 sqft

Lot size

5,001 sqft

Year built

1965

Stories

2

Heating

Wall Furnace,Central

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

Status

Active

Days on market

8

MLS #

248395401

About this property

RARE FOURPLEX IN THE HEART OF BRENTWOOD. We are pleased to present 864 Granville Avenue, an exceptional four-unit multifamily property located in the heart of prime Brentwood, just steps away from San VicenteBoulevard's iconic coral tree-lined corridor. The property offers a rare combination of luxuriously upgraded residences, an extraordinary unit mix, substantial building improvements, residential financing eligibility, and an irreplaceable Brentwood location. Three of the four residences have been extensively remodeled with luxurious finishes, providing investors with a turnkey asset while retaining additional future upside. The property features an exceptional unit mix consisting of a truly unique and spacious three-bedroom/two-bath owner's residence, two one-bedroom/one-bath residences, and one two-bedroom/two-bath residence. With a living experience more comparable to a single-family home than an apartment unit, the expansive owner's residence is a two-story, townhouse-style home with a private rear yard. It includes central HVAC, an in-unit Bosch washer and dryer, cedar-lined closets and hardwood flooring throughout. The luxuriously appointed kitchen in the owner's residence features Italian cabinetry, granite counters, a large center island, a built-in 100-bottle Viking wine refrigerator, a Miele range and exhaust hood, a Miele dishwasher, a microwave drawer, a double-drawer under-counter refrigerator, and a built-in espresso and coffee maker. Of particular note, the owner's residence received a luxury exemption from the City of Los Angeles Rent Stabilization Ordinance (note: AB 1482 applies), providing a potentially significant benefit to future ownership. Buyer to independently verify whether the exemption remains in effect and is transferable toBuyer. Two of the four residences have been upgraded with central HVAC, while the other two residences have in-wall air conditioners. All residences have hardwired Ring video doorbells. Select residences feature hardwood floors, Italian cabinetry, wine refrigerators and/or skylights that fill the interiors with natural light. Additional significant improvements have been made to the building and its major systems, including all-copper plumbing, upgraded electrical, and the recently completed soft-story seismic retrofit. Further, the SB 721 balcony inspection was completed, with no work needed. Additional amenities include a surveillance video camera system, a common laundry room with machines owned by Seller (not leased from a vendor), and an exceptional parking ratio of two spaces per residence. Gas and electricity utilities are separately metered. As a four-unit property, 864 Granville Avenue qualifies for residential financing, potentially providing Buyer with more attractive financing alternatives than those typically available for five-plus-unit multifamily properties. This, combined with the exceptional owner's residence, makes the property particularly compelling for both traditional investors and owner-users. Situated in a Walker's Paradise in the heart of Brentwood, the property benefits from one of the most desirable residential locations on Los Angeles' Westside. Residents enjoy convenient access to the shops, restaurants and neighborhood amenities along San Vicente Boulevard, as well as proximity to UCLA, Santa Monica, Century City, Westwood and the greater Westside employment base. Brentwood's combination of affluent demographics, exceptional lifestyle amenities, highly desirable residential character and significant barriers to new multifamily development continues to support strong long-term rental demand. With its rare townhouse-style owner's residence, luxuriously upgraded interiors, residential financing eligibility, exceptional parking, substantial completed capital improvements, and premier Brentwood location, the property represents a truly unique opportunity to acquire a high-quality four-unit asset in one of the Westside's most coveted rental markets.

Location

864 Granville Avenue

Los Angeles, Los Angeles, CA, 90049