1540 S Holt Ave, Los Angeles, CA 90035

Description

A rare 1938 Art Deco fourplex on an oversized 7,946 SF corner lot in Pico-Robertson, moments from Beverlywood, Beverly Hills and Century City. Four 2 bed / 1 bath residences of approximately 950 SF each (per owner), each with a separate dining area. Three are remodeled with updated kitchens, updated appliances, newer flooring and permitted split-system A/C. Unit 1546 is remodeled and will be delivered vacant, so an owner-user can move right in or an investor can lease at market on day one. The architecture cannot be replicated today: softly curved corners, arched alcoves, original built-ins and restored vintage tile baths with a soaking tub and a separate stall shower. Lush, park-like grounds and long frontage on Pickford St give each residence uncommon light and privacy. Seismically retrofitted, with copper plumbing, newer water heaters, on-site laundry and two detached double garages. Reliable long-term tenancy with embedded RSO rent growth. Pro forma 4.49% cap rate and 13.3x GRM at the asking price. Value-add upside includes renovating unit 1544 on turnover and potential garage-to-ADU conversions. Zoned [Q]RD1.5-1-O within a Transit Priority Area. The adjacent 6,002 SF lot at 8585 Pickford St is available by separate sale, creating a rare 13,948 SF double lot opportunity on the same block. Walk to the restaurants, cafes and markets of Pico and Robertson Boulevards. The seller is not completing a 1031 exchange, allowing a clean, flexible close.