1945 South Garth Avenue
Description
1945 South Garth caters perfectly to its renters pool as the building is made up of large style units. The subject property consists of two (2) 2-bedroom / 1-bathroom units, ten (10) 2-bedroom / 2-bathroom units, and two (2) 3-bedroom / 2-bathroom units. Current ownership has meticulously renovated ten units with finishes...1945 South Garth Avenue is a 14-unit extensively renovated apartment building built in 1964. Located north of Cadillac Avenue, between Robertson Boulevard and La Cienega Boulevard.
1945 South Garth caters perfectly to its renters pool as the building is made up of large style units. The subject property consists of two (2) 2-bedroom / 1-bathroom units, ten (10) 2-bedroom / 2-bathroom units, and two (2) 3-bedroom / 2-bathroom units. Current ownership has meticulously renovated ten units with finishes not typically seen in this submarket, these renovations include new laminate wood-plank flooring, stainless steel appliance packages, modernized interior paint schemes, custom shaker cabinets, recessed lighting, new fan/wall-AC units, new tile, and custom vanities in bathrooms. Additional upside can be realized by renovating the remaining classic units and capturing roughly ~53% upside in rents. Current ownership has also maintained and upgraded the property’s building systems and exterior façade, including new windows throughout, recently replaced roof, fresh painting, updated lighting/ signage package, landscaping, and compliance with the mandated soft-story requirements (buyer to verify) by the City of Los Angeles, with a Certificate of Compliance in hand. These upgrades allow a subsequent buyer to focus on income-generating improvements, minimizing the upfront CapEx typically reserved for building systems. Situated in a convenient centralized location, 1945 South Garth benefits from neighboring submarkets and the substantial growth surrounding the property. Less than two miles to the south is Los Angeles’ most exciting submarket: Culver City. The recent expansion and desirability of Culver City are attributed to the corporate confidence in the area, with Amazon, Apple, and HBO establishing a presence and showing no signs of slowing down. Consequently, a dramatic development pipeline has been established to meet the housing demand expected in Culver City and surrounding submarkets. Garth’s neighboring submarkets include Beverlywood to the west, Pico-Robertson to the north, and West Adams to the east. All have undergone significant transformations and experienced surges in property values, making the subject property not only desirable but also affordable relative to surrounding submarkets with similar locational amenities.
- Listed by Steven Goldstein • DRE #01975978 • Brokerage DRE #01858487 • NorthMarq Realty Services, Inc • 424-422-0904
Property Details for 1945 South Garth Avenue
Property Details for 1945 South Garth Avenue
| Status | Active |
|---|---|
| MLS # | OC24148529 |
| Days on Market | 90 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1964 |
| County | Los Angeles County |
Building Information for 1945 South Garth Avenue
Property Information for 1945 South Garth Avenue
- Gross Income: $403,316
- Gross Scheduled Income: $403,316
- Net Operating Income: $270,382
- Operating Expense: $132,933
- Insurance Expense: $10,498
- Professional Management Expense: $20,166
- Trash Expense: $8,745
- Water Sewer Expense: $15,155
- Total Expenses: $132,933
- Tax Tract Number: 1250
- Tax Census Tract: 2696.01
- CFD/Mello-Roos Fee: $2,000
- Tax Lot: 324
- Community Features: Urban
- Laundry: Yes
- Laundry Features: Community
- Entry Location: Front
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: Lot 10000-19999 Sqft, Rectangular Lot
- Number Of Units: 14
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 2
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 2
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $4,004
- Unit Type Total Rent: $4,004
- Unit Type Pro Forma: 5590
- Unit Type Type: 1
- Unit Type Units Total: 10
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 10
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $25,240
- Unit Type Total Rent: $25,240
- Unit Type Pro Forma: 29250
- Unit Type Type: 2
- Unit Type Units Total: 2
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 2
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $5,306
- Unit Type Total Rent: $5,306
- Unit Type Pro Forma: 7000
- Unit Type Type: 3
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 14
- Number Of Separate Gas Meters: 14
- Number Of Separate Water Meters: 0
Property History for 1945 South Garth Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1945 South Garth Avenue
Schools near 1945 South Garth Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Shenandoah Street Elementary School PublicK to 5 | ||
Alexander Hamilton Senior High School Public9 to 12 | ||
Los Angeles Center For Enriched Studies Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of NorthMarq Realty Services, Inc, Steven Goldstein, DRE #01975978
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.