2031 Dracena Dr
Los Angeles, CA 90027
Dracena Palms · Multifamily Property For Sale
·
60 Units
Investment Highlights
- SIGNIFICANT UPSIDE POTENTIAL: Dracena Palms provides the opportunity to reposition and upgrade the apartment building to obtain market premium rents.
- LOS FELIZ HAS IT ALL: Residents enjoy the history, architecture, diversity, community, walkability, food options, entertainment options.
- STRONG RENTAL DEMAND: Low vacancy rate due to the highly desirable location where prospective tenants compete to find housing.
- FANTASTIC WALKABILITY: With a walk score of 86, this pocket of Los Feliz is a walker’s paradise.
- NO SOFT STORY RETROFIT: Dracena Palms is not subject to the current Soft-Story Seismic Retrofit Ordinance.
Property Facts
| No. Units | 60 | Lot Size | 0.73 AC |
| Property Type | Multifamily | Building Size | 66,768 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1972 |
| Building Class | C | Parking Ratio | 1.08/1,000 SF |
| Zoning | LAR3 | ||
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 66,768 SF |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Recycling
- Smoke Detector
About 2031 DRACENA DR , LOS ANGELES, CA 90027
2305 Dracena Drive “Dracena Palms” is a sixty unit 66,768 SF multifamily property located in the Los Angeles Submarket “Los Feliz.” The property resides on a 31,982 square foot lot. Dracena Palms constructed in 1972, is in an ideal location between N Vermont Avenue, Hillhurst Avenue and Los Feliz Blvd which are main thoroughfares that tenants can use to dine, shop, or ride bikes. This 60-unit building features forty-two 1-bedrooms, fifteen 2-bedrooms and three studios. There are 72 parking spaces (per Costar research). The location of Dracena Palms is in the highly desirable rental market of Los Feliz, known for its trendy eateries, outdoor activities, and cool location where tenants are willing to pay a premium to live in one of the best neighborhoods in all of Los Angeles.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | $2,050 | - |
| 2+2 | 15 | $2,588 | - |
| Studios | 3 | $1,314 | - |
Property Taxes
| Parcel Number | 5590-005-039 | Improvements Assessment | $10,824,321 |
| Land Assessment | $15,154,050 | Total Assessment | $25,978,371 |
Property Taxes
