347 N Genesee Ave, Los Angeles, CA 90036

$2,450,000
7
BD
6
BA
5,935
SqFt
List Price
$2,450,000
MLS#
24-400507
Year Built
1928
Bedrooms
7
Bathrooms
6
Living Sq. Ft
5,935
Lot Size
6,377
Days on Market
7
Property Type
Multifamily
Stories
2

Property Description

347-349 Genesee offers a compelling investment opportunity with strong fundamentals, situated in the heart of the Fairfax District. Incredibly located steps away from Beverly Blvd and a short walk to The Grove, residents enjoy convenient access to an array of daily errands, retail stores, restaurants, and entertainment venues. From iconic landmarks such as the Farmers Market and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. This prime location boasts exceptional walkability, allowing tenants to revel in the freedom to stroll to nearby attractions. This fosters a sense of community and reduces reliance on transportation, ultimately translating to higher tenant retention rates and enhanced property desirability. The Fairfax District also boasts a robust average household income of nearly $126K within a one-mile radius, reflecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations. Altogether, 347-349 Genesee is an attractive investment, offering a blend of prime location, strong financial metrics, and desirable tenant demographics.

Additional Information

Other Buildings
None
Heat
None
Cooling
None
Number of Cars in Garage
Uncovered, Garage Is Detached

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Marcus & Millichap, Saadia 'Sam' Liberow - CA DRE#01933858

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