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Multifamily Vacant-User

3348 Descanso Dr

3348 Descanso Dr, Los Angeles, CA 90026

Listing Price: $4,200,000

Number of Units
27
Price/Unit
$155,556
Price/Gross SF
$315.34
Gross SF
13,319

Investment Overview

Marcus & Millichap is pleased to present to market 3348 Descanso Drive, 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.

Investment Highlights

  • Rare Opportunity to Reposition an Entire 13,319-SF Residential Building in Los Angeles' Sought-After Silver Lake Neighborhood
  • Excellent Location Near Sunset Boulevard and Surrounded by Million-Dollar Homes
  • Currently Operated as a 27-Room Care Facility With Jack-and-Jill Bathrooms
  • Building Features a Rooftop Deck With Enviable Views and a Spacious Patio That Stretches the Entire Length of the Property
  • Potential for a New Investor to Reposition the Asset to a New Use or Lease to a New Operator

Exclusively Listed By

Multifamily Vacant-User

3348 Descanso Dr

Listing Price: $4,200,000

Number of Units
27
Price/Unit
$155,556
Price/Gross SF
$315.34
Gross SF
13,319

Investment Highlights

  • Rare Opportunity to Reposition an Entire 13,319-SF Residential Building in Los Angeles' Sought-After Silver Lake Neighborhood
  • Excellent Location Near Sunset Boulevard and Surrounded by Million-Dollar Homes
  • Currently Operated as a 27-Room Care Facility With Jack-and-Jill Bathrooms
  • Building Features a Rooftop Deck With Enviable Views and a Spacious Patio That Stretches the Entire Length of the Property
  • Potential for a New Investor to Reposition the Asset to a New Use or Lease to a New Operator

Investment Overview

Marcus & Millichap is pleased to present to market 3348 Descanso Drive, 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.

Exclusively Listed By

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