2041 North Vermont Avenue

Los Angeles, CA 90027

$9,500,000
Price
7
Beds
31
Baths
22,582 Sq. Ft.
$421 / Sq. Ft.
22,582
Sq. Ft.
$421
per Sq. Ft.

Description

This exquisite 32-unit residential income property stands out with gorgeous French Normandy design and ornate, architectural details. Located along Vermont, just below the hills of Los Feliz, the Griffith Observatory and just blocks from Los Feliz Village- this location couldn't be better. The property features 32 units, consisting of 8 beautiful (1 bedroom, view units with French windows) including a non-conforming, "owner's" unit with a fireplace and 24 charming studios (separate kitchens, dining...This exquisite 32-unit residential income property stands out with gorgeous French Normandy design and ornate, architectural details. Located along Vermont, just below the hills of Los Feliz, the Griffith Observatory and just blocks from Los Feliz Village- this location couldn't be better. The property features 32 units, consisting of 8 beautiful (1 bedroom, view units with French windows) including a non-conforming, "owner's" unit with a fireplace and 24 charming studios (separate kitchens, dining areas and walk-in closets, which gives them more of a spacious feel). Each unit has charming details offering arched doors and doorways and beamed ceilings. The total building size is 22,582 square feet per assessor. Los Feliz is a vibrant and exciting place to live with amazing cafes, restaurants, nightlife, world famous architecture and lots of hiking for outdoor enthusiasts. Centrally located close to Silver Lake, Hollywood and Downtown LA. Owning this incredible piece of history would be a once in a lifetime opportunity! Seller will consider a partial trade. Almost always 100% occupied, the owner has indicated that there is consistently a "waiting-list" to get into the building. Vacancies have historically been filled through "word-of-mouth". The views, character and charm of the units, elevator, large laundry room and the current owner's maintenance record, make this a most attractive building for tenants. Anticipated upside of the rents is approximately 35-40% of current rents.
  1. Listed by Lane Aronson • DRE #00681193 • Brokerage DRE #00625377 • Berkshire Hathaway HomeServices California Propert
  2. Listed by Paloma Fierro • DRE #01386256 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 2041 North Vermont Avenue

Style
Normandy
Parcel Number
5589022006
Total Units
31.0
Living Area
22582
Source Living Area
Vendor Enhanced
Area
Los Feliz (637)
Vacancy Rate
3%
Lot Size Area
8991
LISTING UPDATED: 06/17/2024 03:48 PM

Property Details for 2041 North Vermont Avenue

StatusActive
MLS #22-191539
Days on Market800
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.21 AC / 8,991 SF
CountyLos Angeles County

Building Information for 2041 North Vermont Avenue

Stories4Residences-Year Built1928Building Size-Lot Size0.21 AC / 8,991 SF

Property Information for 2041 North Vermont Avenue

Community / Development
Community / Development
  • Number Of Units: 31
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • View: Yes
  • View Description: Mountains, Other
  • View: Mountain(s)
  • Water: Public
  • Sewer: In Connected and Paid
Contract Info
Contract Info
  • Financing: Cash To New Loan, Cash
  • Disclosures: Rent Control
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $680,416
  • Net Operating Income: $401,016.00
  • Gross Income: $686,425
  • Cap Rate: 4.20%
  • Gross Rent Multiplier: $13.48
  • Actual Annual Gross Rent: $686,425.00
  • Actual Gross Annual Income: $704,556
  • Laundry Income: $300
  • Actual Rent Total: $686,425.00
  • Financial Info as Of: 01/27/2023
  • Vacancy Allow Dollar: $.00
  • Owner Pays: Gas, Electricity, Water
  • Total Annual Expense: 279400
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Lot Size Square Feet: 8991
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 0
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling Type: Other
Exterior Features
Exterior Features
  • Roof: Composition
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-22-2022
  • Rent Control: Yes
  • Tenant Pays: Other
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,762.00
  • Unit Actual Rent: $44,055.00
  • Unit Projected Rent: $53,500.00
  • Like Units: 24
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,985.00
  • Unit Actual Rent: $11,908.00
  • Unit Projected Rent: $17,100.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108

Property History for 2041 North Vermont Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2041 North Vermont Avenue

Taxable ValueLand$1,672,693Additions$1,188,281Total$2,860,974
Tax Record2024$37,060 ($3,088 / month)
Home Facts
Total Finished SqFt22,582 SqFtAbove Grade Finished SqFt22,582 SqFtLot Size9,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLAR3CountyLOS ANGELESAPN5589-022-006

Schools near 2041 North Vermont Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 2
Rating
School
Distance
Los Feliz STEMM Magnet
PublicK to 5

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Lexington Avenue Primary Center
PublicK to 2

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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2041 North Vermont Avenue is a multi-family home for sale in Los Angeles, CA 90027. This property was listed for sale on August 19, 2022 by Berkshire Hathaway HomeServices California Propert, it's currently listed at $9,500,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Los Feliz STEMM Magnet, Thomas Starr King Middle School and John Marshall Senior High School. 2041 North Vermont Avenue is a 7-bed, 31-bath, 22,582 sqft multi-family home built in 1928.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Propert, Lane Aronson, DRE #00681193; Coldwell Banker Realty, Paloma Fierro, DRE #01386256

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.