1074 S Genesee Ave, Los Angeles, CA 90019

May 15

Written By Jake Glaser

Record Breaking 4-Plex Sale in Prime Wilshire Vista | Historically Significant Spanish Revival Asset

Sold: $2,175,000

Property Highlights

Spanish Colonial Revival 4-plex built in 1933
Prime Carthay Square / Wilshire Vista location in Mid-City
Highest-priced 4-plex sold within a one-mile radius over the past 24 months
5.25% Cap Rate, 13.48 GRM, $544K/unit and $430/SF
Sold to an owner-user couple that recently relocated to LA from San Francisco
Unit mix consists of massive 3+3.5 owner’s unit on entire ground floor, plus a 1+1.5, 1+1 and studio upstairs
Two detached two-car garages plus 3 uncovered parking spaces, for a total of 7-car parking on the property
Strong in-place income of just under $13,500/mo
In-unit washer/dryers and extensively upgraded kitchens and bathrooms; Central HVAC for units on both levels
Upstairs units feature original wainscoting, hardwood floors, decorate ceiling beams, crown molding & bathroom tiling

The Deal Story

The Glaser Group is proud to announce the closing of 1074–1076 S Genesee Avenue in the highly desirable Carthay Square / Wilshire Vista neighborhood of Los Angeles, a Spanish Colonial Revival 4-plex featuring a unique and spacious unit mix.

The property sold for $2,175,000, equating to $544K/Unit, $430.35/SF, 5.25% Cap Rate and 13.48 GRM. This sale sets a new benchmark as the highest-priced 4-plex sold within a one-mile radius over the past 24 months.

The Sellers had previously sold the adjacent property themselves, but after experiencing little traction on this building, they interviewed several brokers and ultimately chose to hire our team due to our extensive track record in the area. We re-listed and strategically marketed the property, resulting in four competitive offers within 10 days and a smooth, successful closing. The Sellers now plan to reinvest their proceeds into new opportunities as they move on from the ongoing challenges of LA property ownership.

The Buyers, a couple relocating from the San Francisco Bay Area, were drawn to the property’s charm, walkability, and strong income from the additional units, which will help offset their housing costs.

If you’re considering a sale or acquisition, contact The Glaser Group at (310) 230-5157.