712 South Stanley Avenue

Los Angeles, CA 90036

$2,995,000
Price
10
Beds
8
Baths
6,950 Sq. Ft.
$431 / Sq. Ft.
6,950
Sq. Ft.
$431
per Sq. Ft.
front view of a house with a street
a view of an empty room with wooden floor and a window
a view of an empty room with wooden floor and a window
a bathroom with a sink a toilet and a mirror
a kitchen with stainless steel appliances granite countertop a refrigerator and a sink
a bathroom with a sink and a mirror
a view of an empty room with wooden floor and a window
a bathroom with a sink toilet and a shower
a bathroom with a sink a toilet and shower
a view of a room with wooden floor and windows
an empty room with windows and a fireplace
an empty room with large windows and wooden floor
a view of an empty room with a window and wooden floor
a kitchen that has a sink and a stove
a kitchen with stainless steel appliances granite countertop a stove and a refrigerator
an empty room with wooden floor and windows
a bathroom with a sink a toilet and bathtub
a utility room with dryer and washer
an empty room with wooden floor a fireplace and windows
a view of entryway with wooden floor
a view of a door and wooden floor
a view of an empty room with a closet
a view of an empty room with a window and wooden floor
a kitchen with a sink a stove a refrigerator and a stove
a kitchen with a sink a stove and white cabinets
a bathroom with a toilet sink vanity and mirror
an empty room with wooden floor and windows
a view of a hallway with wooden floor
a bathroom with a sink and a bathtub
a bathroom with a shower
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Description

We are excited to present a unique opportunity to purchase 712 S Stanley Ave, a fully vacant 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles. Constructed in the 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 6,950 and is situated on a 0.16-acre (6,963 sq ft) lot. This property includes two spacious 2-bedroom, 2-bathroom units each approximately 1,350 sq ft and two very large 3-bedroom,...We are excited to present a unique opportunity to purchase 712 S Stanley Ave, a fully vacant 4-unit apartment building centrally located in the highly sought-after Miracle Mile district of Los Angeles. Constructed in the 1920s with a Spanish architectural flair, the property offers a gross square footage of approximately 6,950 and is situated on a 0.16-acre (6,963 sq ft) lot. This property includes two spacious 2-bedroom, 2-bathroom units each approximately 1,350 sq ft and two very large 3-bedroom, 2-bathroom units, each approximately 1,950 sq ft. A key highlight is the full vacancy of the property upon purchase, allowing for immediate renovations and leasing, thereby enabling investors to realize the property's full income potential after their renovation is completed. This is particularly significant as the property falls under LA's rent control ordinance (RSO), which would restrict renovation activities until existing tenants vacate the premises. A great value-add strategy to consider is adding bedrooms and/or bathrooms to each of these oversized units. Depending on the floor plan and buyer's vision, it's very feasible to transform the 2 bed units into 3 bed units, and the 3 bed units into 4 bed units, without having to add any square footage. The asset benefits from its designation within an HPOZ (Historic Preservation Overlay Zone), offering potential tax advantages, and also benefits from favorable R3 and TOC zoning, which could present an opportunity for future redevelopment, depending on HPOZ restrictions (buyer to verify). 712 S Stanley Ave is optimally located just south of Wilshire Boulevard, in the heart of Miracle Mile - an area renowned for its cultural, dining, and shopping amenities. With a Walk score of 92, the neighborhood is a veritable "walker's paradise", offering residents an array of nearby conveniences and an outstanding quality of life. The property's location is further bolstered by its proximity to a brand-new metro station, currently under construction. This transit connectivity significantly enhances access to the wider LA area and beyond, making it an ideal location for commuters. It's approximately 1 mile from The Grove, LA's premier shopping and dining destination, featuring a mix of high-end retailers and unique boutiques, alongside world-class dining options, offering a desirable lifestyle for potential tenants. This property, with its historic charm, substantial square footage, zoning advantages, and superior location, offers an exceptional investment opportunity to maximize income potential and capital appreciation in the highly coveted Miracle Mile area.
  1. Listed by Vangelis Korasidis • DRE #01222626 • Brokerage DRE #01464847 • Coldwell Banker Realty
  2. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 712 South Stanley Avenue

Zoning
LAC2
Parcel Number
5089010023
Total Units
4.0
Living Area
6950
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
$7,560
Lot Size Area
6965
LISTING UPDATED: 10/14/2024 12:33 PM

Property Details for 712 South Stanley Avenue

StatusActive
MLS #24-418383
Days on Market152
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.16 AC / 6,965 SF
CountyLos Angeles County

Building Information for 712 South Stanley Avenue

Stories2Residences-Year Built1928Building Size-Lot Size0.16 AC / 6,965 SF

Property Information for 712 South Stanley Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 4
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $244,440
  • Net Operating Income: $195,100.00
  • Gross Income: $252,000
  • Cap Rate: 6.51%
  • Gross Rent Multiplier: $11.88
  • Total Annual Expense: 49340
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1599
  • Lot Size Square Feet: 6965
Parking Details
Parking Details
  • Parking Garage: Uncovered
  • Total Parking: 0
  • Parking Features: Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Central
  • Heating Type: Central
  • Equipment: Range/Oven, Refrigerator, Washer, Dryer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $5,200.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $5,200.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $5,200.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $5,200.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $243,267.00
  • Assessed Improvement Percent: 22.22
  • Assessed Land Value: $851,458.00
  • Assessed Land Percent: 77.78
  • Assessed Total Value: $1,094,725.00

Property History for 712 South Stanley 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 712 South Stanley Avenue

Taxable ValueLand$885,856Additions$253,094Total$1,138,950
Tax Record2024$14,493 ($1,208 / month)
Home Facts
Total Finished SqFt6,950 SqFtAbove Grade Finished SqFt6,950 SqFtLot Size6,963 SqFtStyleQuadraplexYear Built1928ZoningLAC2CountyLOS ANGELESAPN5089-010-023

Schools near 712 South Stanley Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Carthay Center Elementary
Public - K to 5
Emerson Community Charter School
Charter - 6 to 8
Fairfax Senior High School
Public - 9 to 12
Whitman Continuation School
Public - 9 to 12
Rating
School
Distance
Carthay Center Elementary
PublicK to 5

Emerson Community Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Whitman Continuation School
Public9 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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More information about 712 South Stanley Avenue, Los Angeles, CA 90036

712 South Stanley Avenue is a multi-family home for sale in Los Angeles, CA 90036. This property was listed for sale on July 22, 2024 by Coldwell Banker Realty, it's currently listed at $2,995,000. It has been on the market for a total of 152 days and was last sold on January 15, 2010. This listing's school district is Los Angeles Unified School District. Nearby schools include Carthay Center Elementary, Emerson Community Charter School and Fairfax Senior High School. 712 South Stanley Avenue is a 10-bed, 8-bath, 6,950 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 Coldwell Banker Realty, Vangelis Korasidis, DRE #01222626; Marcus & Millichap, Filip Niculete, DRE #01905352

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.