2035 Dracena Drive

    Los Angeles (City), CA 90027
    • $22,000,000
    • STATUS: Active
    • ON SITE: 20 days
    • MLS #: 20562332
    UPDATED: 61 min ago
    $22,000,000
    • 75
      BEDS
    • 0.73
      ACRES
    • 75
      BATHS
    • 0
      1/2 BATHS
    • 66,768
      SQFT
    • $329
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    **A TOUR WILL BE CONDUCTED FOR PROSPECTIVE BUYERS FRIDAY MARCH 13, 2020 BETWEEN 12PM - 3PM ****BEST AND FINAL OFFERS ARE DUE ON MONDAY, MARCH 16, 2020 AT NOON****IF YOU PLAN ON ATTENDING PLEASE EMAIL THE LISTING AGENTS**2305 Sale will be subject to the Probate Proceedings, including any approvals required thereunder or in connection therewith.Dracena Drive "Dracena Palms" is a sixty unit 66,768 SF multifamily property located in the Los Angeles Submarket "Los Feliz." The property resides on a 31,982 square foot lot.Dracena Palms constructed in 1972, is in an ideal location between N Vermont Avenue, Hillhurst Avenue and Los Feliz Blvd which are main thoroughfares that tenants can use to dine, shop, or ride bikes. This 60-unit building features forty-two 1-bedrooms, fifteen 2-bedrooms and three studios. There are 72 parking spaces (per Costar research).The location of Dracena Palms is in the highly desirable rental market of Los Feliz, known for its trendy eateries, outdoor activitie

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    Based on information from CRISNet MLS as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the i-Tech MLS as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Licensed in the State of California, USA.
    www.desertarealuxuryhomes.com/homes/103994038

    2035 Dracena Drive Los Angeles (City), CA 90027

    • Price: $22,000,000
    • Status: Active
    • Updated: 61 min ago
    • MLS #: 20562332
    75
    Beds
    75
    Baths
    0
    ½ Baths
    0.73
    Acres
    66,768
    SQFT
    $329
    $/SQFT
    1972
    Built
    Neighborhood:
    Los Feliz (C22)
    County:
    Los Angeles
    Area:
    Los Feliz (C22)
    Property Description
    **A TOUR WILL BE CONDUCTED FOR PROSPECTIVE BUYERS FRIDAY MARCH 13, 2020 BETWEEN 12PM - 3PM ****BEST AND FINAL OFFERS ARE DUE ON MONDAY, MARCH 16, 2020 AT NOON****IF YOU PLAN ON ATTENDING PLEASE EMAIL THE LISTING AGENTS**2305 Sale will be subject to the Probate Proceedings, including any approvals required thereunder or in connection therewith.Dracena Drive "Dracena Palms" is a sixty unit 66,768 SF multifamily property located in the Los Angeles Submarket "Los Feliz." The property resides on a 31,982 square foot lot.Dracena Palms constructed in 1972, is in an ideal location between N Vermont Avenue, Hillhurst Avenue and Los Feliz Blvd which are main thoroughfares that tenants can use to dine, shop, or ride bikes. This 60-unit building features forty-two 1-bedrooms, fifteen 2-bedrooms and three studios. There are 72 parking spaces (per Costar research).The location of Dracena Palms is in the highly desirable rental market of Los Feliz, known for its trendy eateries, outdoor activitie
    Exterior Features

    Parking Features Gated Parking Spaces Total 72

    Interior Features

    Cooling Type Other Heating Type Other Interior Features Other Total Floors 3 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bed01 1 Unit Number Of Bed02 2 Unit Number Of Bed03 0

    Property Features

    Adjusted Gross Income 1261737.00 Assessed Improvement Value 6314314.00 Assessed Land Value 805240.00 Cap Rate 3.50 Country United States Of America Expense Total Annual 471456.00 Gross Operating Income 1261737.00 Gross Rent Multiplier 17.40 Hoa YN N Legal Disclosures Take Property As Is Lot Size Source Vendor Enhanced Net Operating Income 765046.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Vendor Enhanced Unit Monthly Rent01 67166.00 Unit Monthly Rent02 28134.00 Unit Monthly Rent03 3082.00 Unit Projected Total Monthly Rent01 105000.00 Unit Projected Total Monthly Rent02 49500.00 Unit Projected Total Monthly Rent03 4800.00 Unit Total Monthly Rent01 67166.00 Unit Total Monthly Rent02 28134.00 Unit Total Monthly Rent03 3082.00 Unit Type01 42 Unit Type02 15 Unit Type03 3 Units Total In Complex 60 Zoning Lar3

    Listing provided courtesy of David Weinberger DRE#01349349 of Keller Williams Studio City and Philip Seymour CA DRE# 00630158 of Keller Williams Studio City.


    Based on information from CRISNet MLS as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Based on information from the i-Tech MLS as of 2020-03-30T10:43:07.24. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    Licensed in the State of California, USA.
     
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