Los Angeles, CA 90008
LISTING CRE
422 N. Sierra Bonita Ave
5 Unit Multifamily Offering
Property
The Asset
Units
Year Built
Gross SF
Lot SF
APN
Summary
5
1938
3,870
6,500
5526-031-019
SNAPSHOT
Heart of
Fairfax
Rental
Upside
Walk to
The Grove
Nestled between West Hollywood and La Brea, Fairfax is best known for the renowned Farmer's Market, its major shopping destination (The Grove), and the iconic CBS Television City broadcasting center. To walk along the famous Melrose Avenue is to fully embrace the Los Angeles culture filled with eclectic eateries, upscale boutiques, and chic hotels. The area gets its name from Fairfax Avenue, the epicenter of the neighborhood's fashion and food scene that also bleeds into Melrose’s buzzing traffic. Its substantial distance from major freeways and prime positioning between West Hollywood and Beverly Grove also makes it a commonly explored part of town.
Overview
Property Overview
We are pleased to present 422 North Sierra Bonita Avenue, a one-of-a-kind 5-unit property located in the heart of the Fairfax District (90036). The offering provides investors a rare opportunity to acquire an irreplaceable asset with meaningful rental upside in one of LA’s most dynamic and stable rental markets.
The Asset
422 North Sierra Bonita Avenue was built in 1938 and is a two-story 3,870 square foot property featuring 5 units consisting of Four (4) 1 Bedroom / 1 Bathroom units and One (1) 2 Bedroom / 1 Bathroom. The apartment units are large in size averaging +/- 774 square feet and the property sits on a +/- 6,500 square foot parcel, zoned LARD1.5. Covered garage parking is provided for 3 vehicles with additional outdoor parking in the building rear. Gas and electrical utilities are separately metered.
Location
The property is ideally located on a quiet street in the heart of the Fairfax District and offers immediate access to the neighboring communities of Beverly Hills, Hancock Park, and West Hollywood. The proximity to world class neighboring venues makes this an ideal investment for apartment operators and/or owner occupiers seeking a stable investment opportunity along with long term wealth preservation and appreciation. Walking distance to The Grove and Farmer’s Market, La Brea Avenue and Melrose Avenue, all considered some LA’s most popular destinations for numerous retail and restaurant venues.
