3348 Descanso DR

LOS ANGELES, CA, 90026

$4,200,000

$315 per ft²
$4,200,000
$315 per ft²
Active
Active
 - For Sale
carpenters-square
13,319 ft²
property_type
Multi-family
calendar
Built 1964
3348 Descanso Drive is a rare and unique opportunity to reposition an entire 13,319-square foot care facility surrounded by million-dollar homes in Los Angeles sought-after Silver Lake neighborhood. The building is a three-story, 1964 construction that is currently operated as a 27-room board and care facility by a single-operator tenant on a month-to-month NNN lease. The tenant is aware of the sale and has stated they are willing to vacate at any time, making this an excellent value-add opportunity. The building s current layout is as follows: the ground floor features a large commercial kitchen, laundry facility, storage room, two traditional apartment units, and a large patio that stretches the length of the property. The second floor offers 16 rooms of similar size, with pairs of rooms sharing jack-and-jill bathrooms. The third floor has eight similar rooms and boasts a spacious deck with breathtaking views of Downtown Los Angeles. The building also features staff restrooms on each floor and a non-operational elevator. This offering provides a rare opportunity for an investor to reposition the asset, either by leasing to a new operator or an affordable housing syndicate, or by exploring the potential to convert the building into traditional apartment units.
MLS® ID:
PW21266874MR
Updated:
8/10/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Community

Exterior/Building Features

Lot Size
0.32 acres lot
Sewer
Public Sewer

Other Property Details

Garage
No
Parking
N
View
N
County
Los Angeles
Pool
No
Pool Description
None
Zoning
LAR2
Contact