LP.com

We are pleased to present a unique owner user or investment opportunity at 1719 Stearns Dr in the highly coveted Pico Robertson submarket, located east of La Cienega Blvd and just south of Airdrome St. The property is a triplex featuring a one-bedroom unit in the front and two two-bedroom units at the rear that have been well-maintained with hardwood floors, tile kitchens, and dual entrances. The building is fully occupied and there is over 22% rental upside achievable as units turn. At the rear of the property, there is a laundry room with two washers and two dryers that are owned as well as four garages that are currently being utilized as storage for the ownership. The garages can be used for parking for additional income, or there is potential to build ADU's (buyer to verify). Limited landlord responsibilities as tenants are responsible for gas, electric, and waste removal. At the asking price, the property is being offered at a low $498 PSF Ideal opportunity for an owner user to occupy one of the units, or an investor to acquire a well-maintained asset and capture the upside in rents and garage or potential ADU income. The property benefits from a significant affordability gap between renting and home ownership in the neighborhood; within two miles of the subject property, the median home value is over $1MM. The average household income within two miles of the property is $117,622. The Pico-Robertson neighborhood is an established Los Angeles community known for beinghighly walkable, providing an array of amenities within a half-mile radius.