349 Virginia St

El Segundo, CA 90245 View Map $3,695,000 Schedule a Tour
Sq.Ft. Lot7,155
Year1978
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Status: Active
Property Type:Apartment
MLS #:SB24049689
On Site:35 Days
Lot Size:7,155 Sq. Ft.
County:Los Angeles
Located on a beautiful, tree-lined street in an idyllic location, this 7-unit walk-up apartment building is surrounded by well maintained apartments, townhomes, condominiums and single family homes, and offers an amazing opportunity for investment in one of the most highly sought after suburbs in Los Angeles. Built in 1978 by the family that still owns it, and meticulously maintains it, this is the first time this building has been on the market. There is 6,640 square feet of living space on a 50 X 143 Street to alley lot with 9 private garages (garages have been earthquake retrofit) and an additional 4 tandem parking spaces. This location in El Segundo is ideal, because it's far away from any detrimental factors yet in close proximity to the downtown restaurants, the beach, employment hubs and transportation. All of the units offer two bedrooms, and most offer more than one bath. All but one of the units have been substantially refurbished, and the building itself has been lovingly maintained, including lush landscaping that gives the courtyard a welcoming, homey feel. 5 of the units are flats, and two are townhome style. 6 of the 7 units have fireplaces! All units have individual hot water heaters. There is a spacious on-site laundry for the units to share, and the building has been recently painted, replumbed, reroofed, and has new windows. The rents are mostly balanced, but there is still some upside. The building is professionally managed by First Light Property Management, a trusted name in local management for over 15 years. This is a property that you will be proud to own.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
4/13/2024$3,800,000$3,695,000-2.8%

Community Information

Address:349 Virginia St, El Segundo, CA 90245
Zip Code:90245

Architecture

Year Built:1978
Stories:3
Building Area: 6640.0
Number of Buildings: 1
Total Units: 7
Stories Total: 3
Unit 1: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $2,695 actual rent • $2,695 total rent • $2,800 pro forma
Unit 2: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $2,495 actual rent • $2,495 total rent • $2,800 pro forma
Unit 3: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,995 actual rent • $2,995 total rent • $3,400 pro forma
Unit 4: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $2,495 actual rent • $2,495 total rent • $2,800 pro forma
Unit 5: 1 Unit • 2 Beds • 1 Bath • Unfurnished • $2,495 actual rent • $2,495 total rent • $2,800 pro forma
Unit 6: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,335 actual rent • $2,335 total rent • $2,800 pro forma
Unit 7: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,695 actual rent • $2,695 total rent • $3,000 pro forma
Garage Spaces: 9.0

Features / Amenities

Appliances: Dishwasher, Disposal, Gas Oven, Gas Range
Laundry: Common Area
Entry Level: 1
Entry Location: walk up
Common Walls: No Common Walls
Parking Total: 9.0
Heating: Forced Air

Property Features

Lot Size: 0.16 Acres / 7,155 Sq. Ft.
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected
Sewer: Public Sewer
Water: Public
Zoning:ESR3YY
Directions:Vista del Mar to Grand, east to Virginia, north to address

Tax and Financial Info

Cap Rate: 4.09
Gross Income: $20,521
Gross Scheduled Income: $246,262
Net Operating Income: $151,014
Electric Expense: $400
Fuel Expense: $657
Gardener Expense: $950
Insurance Expense: $7,600
Maintenance Expense: $12,313
New Taxes Expense: $45,507
Pest Control Expense: $787

Listing Agent/Office

Agent:Robert Freedman
Office:Domo Real Estate
Broker Phone:310-291-7779

Co-Listing Agent/Office

Agent Name:Greg Geilman
Office Name:Domo Real Estate

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349 Virginia St El Segundo,  CA 90245
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349 Virginia St El Segundo, CA 90245
 
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Apr
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Apr
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Choose Your Date -- It's Free, Cancel Anytime
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Based on information from California Regional Multiple Listing Service, Inc. as of April 16, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.