Property Description

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. rnThe 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.rnrnThis 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.

: Community
: Urban
Additional Information
Steven M. Bogoyevac, Broker
: Standard

Multi-Family For Sale

3348 Descanso Drive, Los Angeles, California 90026

13,319 Sqft
Listing ID #PW21266874
Basic Details
Status : Active
DaysOnMarket : 0
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : PW21266874
Price : $4,200,000
Living Area : 13,319 Sqft
Lot Size : 14,157 Sqft
Year Built : 1964
Country : US
State : California
County : Los Angeles
City : Los Angeles
Zipcode : 90026
Price Per Square Foot : $315
ModificationTimestamp : 2021-12-20 11:42:25
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