2430 Ocean View Ave

Los Angeles, CA, 90057

$12,500,000

$236 per ft²
$12,500,000
$236 per ft²
Active
Active
 - For Sale
beds
27 Beds
baths
57 Baths
carpenters-square
52,871 ft²
property_type
Multi-family
calendar
Built 1929
We are pleased to present Nob Hill Towers at 2430 Ocean View Ave Los Angeles, 90057a 7-story, 52-unit, architecturally significant (with Mills Act Potential), classic 1920s building located in the Westlake submarket of Los Angeles just 1 block from MacArthur Park and just over 1 mile to the heart of Downtown Los Angeles. Built in 1929, this unique concrete building is comprised of 2 Small (0+1), 28 (0+1), 13 (1+1), 4 (1+1+den), and 5 (2+2) units that range from approximately 300-2,500 gross square feet. The 52,871 square foot structure is situated on a 13,024 square foot, LAR4-1 zoned lot.The property offers an art deco feel with vintage charm and classic period finishes throughout the lobby, common areas, and units. The building's units feature incredibly spacious layouts with hardwood floors, Neoclassical fireplaces, floor radiator heaters; and most units have sweeping city/mountain views. There are two elevators in the building, onsite laundry (4 washing/6 drying machines), secured garage parking for 20 cars, 8 large storage rooms in a vast basement (3 of which are leased to tenants for additional income), and the building is master metered for electricity, gas, and water. There is a RUBS program in place in which tenants reimburse the landlord monthly for a portion of the utility costs. All tenants have access to the building's unique rooftop patio with views of the city, Santa Monica Mountains, and the Downtown Los Angeles skyline.The property boasts an excellent WalkScore rating of 94 and is one block away from Westlake's MacArthur Parkbilled as Los Angeles' version of New York's Central Park when it was under construction. Today it has become much more than the green grass and lake that comprise it. The park and the 2.72-mile area surrounding it also called Westlake is one of LA's most historic neighborhoods. Victorian homes and apartment complexes characterize the area, but newer developments are going up quickly. You'll find an eclectic mix of bars and restaurants on the east side of the park. Big-box stores will take care of most of your retail needs, while entertainment lovers will appreciate the Crypto Arena and LA Convention Center residing just across the 110 Freeway. The park is the biggest calling card of the neighborhood, and it has become increasingly well-maintained over the last few years. The building is just six blocks (0.6 miles) away from the Metro Red/Purple Line Westlake/MacArthur Park Station and 0.8 miles away from the Metro Red/Purple Line Wilshire/Vermont stationproviding easy access to Downtown, Hollywood, the Westside and surrounding areas. Downtown LA and the 101/110 freeways are all within 1.5 miles of the property, offering residents effortless access to countless shopping, dining, entertainment, and recreation options of revitalized Downtown Los Angeles, Koreatown, Hollywood, Echo Park, and Silverlake.Nob Hill Towers is well positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
MLS® ID:
23-230251
Listed:
1/5/23
Updated:
1/27/23

Interior Features

Total Bedrooms
27
Total Bathrooms
57
Laundry Description
Community
Floor Description
Hardwood
Fireplace
Living Room
Cooling
None
Heating
Radiant

Exterior/Building Features

Lot Size
0.3 acres lot
Exterior Features
Concrete, None
Architectural Style
Architectural

Other Property Details

Association Amenities
Gated Parking, Outdoor Cooking Area, Picnic Area, Sun Deck
Garage
Yes
Garage Spaces
20
Parking
Controlled Entrance, Gated, Private Garage
Parking Total
20.0
View
Y
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
7
Zoning
LAR4-1

Property History

Date
Event
Price
Value
1/16/23
Price Change
$12,500,000
-2%

Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 1/27/23

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