4505 Santa Rosalia Dr

The Camellia House Apartments is a 13-unit apartment building plus one (1) non-conforming unit located at 4505 Santa Rosalia Drive in the prime Baldwin Village neighborhood of Los Angeles.

Built in 1958, the property sits on a 15,991 square foot LAR3-zoned lot and features a unit mix of (11) one-bedroom/one-bath units, (2) two-bedroom/two-bath units, and (1) non-conforming one-bedroom/one-bath unit. The building spans 14,066 square feet with oversized floor plans averaging approximately 1,000 square feet well above submarket averages. A beautifully re-surfaced pool and patio area anchor the lush courtyard, creating a desirable and peaceful environment for residents.Camellia House offers investors a strong value-add and income opportunity, with four (4) vacant units plus one (1) vacant non-conforming unit ready for lease-up. The property has undergone just under $120,000 in recent capital improvements in the past 60 days, including the full interior renovation of three (3) units, extensive landscaping work, a full resurfacing with epoxy flooring for five stairwells, the main entry & courtyard, and more. The building includes gated parking for 10 vehicles(7) tuck-under and (3) garage spots along with a shared laundry room generating additional income. The main electric panel has been updated, and utilities are separately metered for gas and electricity. Notably, five of the units are currently occupied by Section 8 or VASH tenants, making this a fantastic Section 8 investment opportunity. One-bedroom units at the property are currently achieving as much as $2,230/month, with current voucher limits for the 90008 zip code at $2,172 for 1BRs and $2,748 for 2BRs. The required soft-story retrofit work has not yet been completed. Offered at an extremely attractive basis of just $182 per square foot and 8.33 GRM, Camellia House presents a rare opportunity to acquire scale, cash flow, and upside in one of South LA's most dynamic and evolving neighborhoods.

This home located at 4505 Santa Rosalia Dr is currently pending and has been available on pardeeproperties.com for 13 days. This property is listed at $2,550,000. It has 15 beds and 16 bathrooms. The property was built in 1958. 4505 Santa Rosalia Dr is in the Park Hills Heights community of Los Angeles County.

The multiple listings information is provided by The MLS™/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2014 The MLS™/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified.