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2041 N Vermont Avenue

Los Angeles (City), CA 90027
  • $10,500,000
  • STATUS: Active
  • ON SITE: 400 Days
  • MLS #: 22191539
UPDATED: 80 min ago
$10,500,000
  • 7
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 22,582
    SQFT
  • $465
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

Listing Agent(s): Lane Aronson of Berkshire Hathaway Homeservices California Properties (626-440-5100) and Paloma Fierro of Coldwell Banker Realty(818-788-5400)


Description

Own a piece of Los Feliz History. In 1928 architect/contractor Hugh Howe Hinds was commissioned to design and build what was to become Layden Hall. His progressive French Normandie design became a Landmark in the "posh" Los Feliz neighborhood on North Vermont. The building was subsequently purchase in 1955 by Ms. Gwendolyn Horton and became known to the locals as Horton Hall. This fabulous building has not been resold since her purchase. Very rarely do any buildings on North Vermont, just below Los Feliz Blvd, come up for sale. The property features 31 units PLUS one additional non-conforming unit, consisting of 25 charming studios (separate kitchens, dining areas and walk-in closets), 6 beautiful 1 bedroom view units and a large additional one bedroom unit with FIREPLACE converted from the manager's office. All, we believe, to have beamed ceilings. The total building size is 22,582 square feet per assessor. Although master metered for gas and electricity, the expenses of the building appear to be very reasonable. 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-27T07:37:36.257. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/132364019
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2041 N Vermont Avenue Los Angeles (City), CA 90027

  • Price: $10,500,000
  • Status: Active
  • On Site: 400 Days
  • Updated: 80 min ago
  • MLS #: 22191539
7
Beds
0
Baths
0
½ Baths
0.21
Acres
22,582
SQFT
$465
$/SQFT
1928
Built
Neighborhood:
637 - Los Feliz
County:
Los Angeles
Area:
637 - Los Feliz
Property Description
Own a piece of Los Feliz History. In 1928 architect/contractor Hugh Howe Hinds was commissioned to design and build what was to become Layden Hall. His progressive French Normandie design became a Landmark in the "posh" Los Feliz neighborhood on North Vermont. The building was subsequently purchase in 1955 by Ms. Gwendolyn Horton and became known to the locals as Horton Hall. This fabulous building has not been resold since her purchase. Very rarely do any buildings on North Vermont, just below Los Feliz Blvd, come up for sale. The property features 31 units PLUS one additional non-conforming unit, consisting of 25 charming studios (separate kitchens, dining areas and walk-in closets), 6 beautiful 1 bedroom view units and a large additional one bedroom unit with FIREPLACE converted from the manager's office. All, we believe, to have beamed ceilings. The total building size is 22,582 square feet per assessor. Although master metered for gas and electricity, the expenses of the building appear to be very reasonable. 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.
Exterior Features

Parking Total 0 Roof Composition View Mountain(S) View YN Yes

Interior Features

Flooring CarpetWood

Property Features

Association YN No Buyer Financing Cash Cap Rate 3.4 Disclosures Rent Control Gross Income 642026 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 352185 New Construction YN No Possession Close Of Escrow Rent Control YN Yes Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Tenant Pays Other



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-27T07:37:36.257. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Lane Aronson of Berkshire Hathaway Homeservices California Properties (626-440-5100) and Paloma Fierro of Coldwell Banker Realty(818-788-5400)