5073 Huntington Dr N 15 Unit Apartment Building $2,201,312 CAD ($146,754 CAD/Unit) Los Angeles, CA 90032

15-unit (permitted with plans) +/-6,400 SF multifamily property located in the El Sereno neighborhood of Los Angeles. The 3-story property is located on the NEC of Huntington Drive and Portola Ave. The unit mix will consist of 15 Studio units with kitchenettes. Zoned C4, the property sits on a 4,500 SF lot. Onsite amenities include an onsite laundry room, community kitchen & meeting room and an office/counseling room. All units with A/C and there is gated secure access to the building with onsite uncovered and tuck under parking.
The property was originally permitted and built as 3 affordable units but is currently being processed through the City of Los Angeles Unpermitted Dwelling Units program for 15 units, of which 14 units are market-rate and 1 unit is very low income. 4 units are currently occupied. Cost to complete this work is estimated at approximately $500,000 but buyer to confirm cost and scope of work.
The property will be delivered to a potential purchaser with Ready to Issue (RTI), expected by the end of February, building permit for 15 units and will include an affordable rental restriction covenant for 1 very low income unit, with rental rate levels to be determined by the Los Angeles Housing Department. There is also a commercial unit. Buyer to pay for permits and fees required to obtain permits and cost of the conversion to 15 permitted units.