428 N Alta Vista Boulevard, Los Angeles, CA 90036
- $2,200,000
- 5
- BD
- 5
- BA
- 3,150
- SqFt
- List Price
- $2,200,000
- Status
- ACTIVE
- MLS#
- 26830245
- Year Built
- 1926
- Bedrooms
- 5
- Bathrooms
- 5
- Living Sq. Ft
- 3,150
- Lot Size
- 7,701
- Acres
- 0.18
- Days on Market
- 61
- Property Type
- Multifamily
- Style
- Spanish
- Stories
- Multi Level
Property Description
High-Income Fairfax Triplex with TOC Tier 3 Development Upside: Experience the vibrant Los Angeles lifestyle in this stylish Spanish-style triplex, just a short stroll from The Grove, Pan Pacific Park, and some of the hottest restaurants along Melrose Avenue and Beverly Boulevard. This well-preserved property features three units, each with rare individual outdoor spaces and lush landscaping. The front house is an inviting 2-bedroom, 2-bathroom Spanish bungalow, complete with a fully equipped kitchen and a charming breakfast/office nook. Enjoy two beautiful outdoor areas adorned with mature bougainvillea and a flourishing lemon tree, perfect for relaxing or entertaining. The middle unit boasts a bright living room, dining area, and a primary bedroom with an ensuite bathroom, plus a cozy second bedroom that opens onto a private patio, ideal for al fresco dining. Nestled atop the Spanish duplex, the delightful third unit features a spacious balcony with lovely views of the hills. Enter through the balcony to discover a versatile bonus room, perfect for a home office or relaxation space. The kitchen opens to the living area, and the bedroom includes a large walk-in closet and an ensuite bathroom with a tub/shower. Additional highlights include in-unit washer/dryers, dedicated off-street parking with two garages and three additional spaces in the shared driveway, a new sewer installed in 2024, and solar panels for the front unit. All units are currently earning market rents with newly signed leases for 2025/2026. The subject parcel carries a (TOC) Tier 3 designation on a 7,700 sf lot with no HPOZ, no historic protections, and no overlay restrictions. This represents a clean development-ready parcel for up to 6 units and 2 ADU's in the highly desirable Fairfax corridor. Critically, the property's existing income of $137,280 annually provides positive cash flow throughout the entitlement period, materially reducing carrying cost risk for a development buyer. Don't miss this opportunity to own a versatile property that meets both lifestyle and investment needs in a prime location.
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Additional Information
- Appliances
- Dishwasher, Disposal, Refrigerator, Vented Exhaust Fan, Dryer, Washer
- Heat
- Wall Furnace
- Patio
- Front Porch
- Garage Spaces Total
- 2
- Interior Features
- Ceiling Fan(s), Walk-In Closet(s)
- Attached Structure
- Detached
- Number Of Units Total
- 3
Listing courtesy of Listing Agent: Mary Anne Reyes (maryanne@pacificala.com) from Listing Office: Pacifica Realty Management LA.
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