1524 Myra Avenue
Los Angeles, CA 90027
$1,895,000 | 8 Beds | 4 Baths | 4,144 Sq. Ft. | Price/Sq.Ft. $457 | 4,501 Sq. Ft. Lot | Built in 1922
Located on a quiet street in Los Feliz, just below Franklin Hills (and only down the street from where I live!) this 1920s Spanish Colonial Revival complex features four spacious and bright 2 bedroom/1 bathroom units
The complex is two stories and each of the units measures 1,000 square feet each. The first unit has been updated and will be delivered vacant so this could be a perfect opportunity for someone to live in one, while making major income with the other three.
Each of the units have these glorious sunrooms, which are perfect to be used as dining rooms, offices, or even third bedrooms.
The vacant unit has a new kitchen and another private entrance and laundry.
The unit’s first bedroom has peekaboo views of Franklin Hills, and a large closet.
While the second looks out onto the neighborhood and has a generously sized walk-in closet.
The bathroom is new but maintains a certain vintage charm.
The second and third units have similar layouts. The second has this lovely and unique wood paneled ceiling in the sunrooms. Plus, views of the Griffith Observatory from this room and one of the bedrooms that made me jealous (I want that view for myself!)
This unit has two nicely sized bedrooms, plus a separate laundry room, and another private entrance. It is currently rented at a fantastic market rate.
I haven’t seen the third of the four units yet as it is only available to see this coming Saturday, but from the photos you can see its similarly beautiful with great natural light and this lovely Spanish-style fireplace.
This first floor unit has another amazing sunroom used as a dining room. (And don’t miss that beautiful cat staring right at you at the bottom of the image).
And what makes the downstairs units different from those up above are their private outdoor terraces, assessed from one of the two bedrooms through three sets of French doors.
This unit also has a separate laundry room and an updated kitchen. The only unit without laundry is the fourth unit, which is home to a longterm tenant and won’t be shown without an excepted offer.
The fine print and further details? There’s also a 350 sq. ft. garage that will be delivered vacant plus plenty of potential to repurpose the space. An electrical fast charger is currently assigned to vacant unit (1528 Myra Avenue) but could be reassigned. The roof is flat with newer Spanish tiles, a New electrical panel, individually metered utilities, and hot water heaters in every unit. The property currently yields a monthly income of $8,003; but its projected rent is $11,300. Two units are currently rented at market value and one below market value. 1524 Myra Ave (1,010 SqFt) has been recently updated, with new central heat/air, new soft panels, 50/50 galvanized/copper plumbing, an all modern kitchen, a functioning gas fireplace as well as a privatized breezeway. 1526 Myra Ave (1,051 SqFt) has original wiring, new copper piping and no heater but is in good condition overall. 1528 Myra Ave (1,051 SqFt) has been carefully renovated and features new wiring, copper piping as well as updated bathroom and kitchen and a new furnace. 1530 Myra Ave (1,010 SqFt) has original wiring, galvanized piping, a wall furnace, and currently has no laundry connected but can be put in.
The property is nestled between buzzing Sunset Junction and Hyperion Avenue, the best of both Silver Lake and Los Feliz right outside your door. This attractive building presents a wonderful investment opportunity for the savvy investor.
I would love to give you a private tour of 1524 Myra Avenue in Los Feliz. I live just down the street! Call me today at (937) 243-2349 or email me at tatiana.tensen@sothebyshomes.com to schedule a visit.
Listing provided courtesy of George E Penner, DPP.
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