114751 South Swall Drive, a three-unit value-add multifamily opportunity located in the highly desirable Pico-Robertson neighborhood. Offered for sale for the first time in over 50+ years, the property has been family owned and operated and remains largely in classic condition, presenting a true value-add opportunity. A new owner can… Read More unlock meaningful upside through upgrades to unit interiors and exteriors to modern standards. In-place rents trail current market levels by approximately $620 per unit, representing a loss-to-lease of roughly ~27%. All units have seen minor upgrades, providing immediate potential to increase income through a thoughtful renovation program tailored to today's renter preferences. Constructed in 1950, the property sits on a 7,485 SF lot and consists of a garden-style building totaling approximately 1,835 gross SF. The unit mix includes three (3) one-bedroom, one-bathroom units. Mature landscaping and underutilized common areas provide an opportunity to enhance curb appeal and improve the tenant's experience in this quiet, residential setting. At the rear of the property is surface parking for each unit, and a large garage that has been converted to storage for a neighboring grocery store on Pico Boulevard generating significant additional income. The rear parking and storage area provide flexibility for the future owner to either keep the current use or convert to ADU (buyer to verify), offering a future path to additional income or unit count expansion. Read Less
Courtesy of NorthMarq Realty Services, Inc. 949-717-5200
Listing Snapshot
Days Online
12
Last Updated
Property Type
Other
Beds
3
Square Ft.
1,835
Lot Size
0.17 Acres
Year Built
1950
MLS Number
26828263
30 Days Snapshot Of 90035
$1.50M
-8%
(avg) sold price
3
-50%
homes sold
53
+32%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
1,835 sq ft, Built in 1950, Levels: One
Cooling
Wall Unit(s)
Disclosures
None
Garage
Carport Detached
Heating
Wall
Lot
LotAcreage: 0.1719, LotSizeArea: 7,487
Parking
TotalParking: 0
Property
NumberOfUnits: 3, Zoning: LAR2
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