3267 Rowena Ave
Los Angeles, CA 90027
12 Units in Los Feliz Village · Multifamily Property For Sale · 12 Units

KW Commercial as exclusive advisors are pleased to present 3267-71 Rowena Avenue. An exceptional multifamily asset with 12 total apartment homes on an enormous + / - 20,895 SF parcel offering the value investor strong current income metrics along with future rental upside in one of the most stable and desirable neighborhoods in Los Angeles. The improvements include 12 total units … a 10 unit apartment community, a large single-family home and a poolside Bungalow. 3271 Rowena Avenue: Single Family Residence - built in 1934 (+/- 2,130 SF) Spanish style poolside home, built in 1934 features a generous floor plan with 3 bedrooms – 2 baths, original hardwood flooring, wood burning fireplace, tall ceilings, formal living room & dining rooms, patios, large basement and poolside/cabana access. Home has been recently renovated. 3271 ½ Rowena Avenue: Poolside Bungalow - built in 1954 (+/-726 SF) Vintage One Bedroom poolside apartment featuring generous interior spaces, wood burning fireplace, wood beamed ceilings, hardwood flooring and poolside/cabana access. Bungalow has been recently renovated. 3267 Rowena Avenue: Ten Units - built in 1949 (+/- 6,660 SF) The building features 10 apartment homes, each One Bedroom and One Bathroom, with vintage character consistent with the era. 3267-71 Rowena Avenue, features an amenity package including common area laundry facilities, swimming pool and cabana and a systems package with separate electrical / gas utilities, separate water heaters and common area laundry facilities. Parking is provided for 14 vehicles in both garage and open spaces. Residents also utilize 6 additional spaces located on the parking apron, between the sidewalk and street. The unit composition features Ten (10) 1 Bedroom - 1 Bathroom apartment homes, a 3 Bedroom – 2 Bathroom Single Family Home and a 1 Bedroom – 1 Bathroom bungalow adjacent to the private swimming pool and cabana. Utilities are separately metered for gas & electrical and there are separate water heaters for each unit. Recent rental surveys prove that there is significant future rental upside available, due to the below market existing rents. Current ownership has performed quality renovations in 8 of the 12 units, thus creating a proven concept and ease of leasing with strong demand for units as they become available. With this, the asset experiences healthy current income upon acquisition with the opportunity to capture future rental upside as the remaining units as they turn over. Centrally located in the most prime Los Feliz neighborhood, 3267-71 Rowena Avenue’s transit oriented and very walkable location offers residents access to many nearby venues including Gelsons and Trader Joe’s markets, along with numerous dining/entertainment locations including Meze Café, Square One Silverlake, Barbix, Starbucks and What the Fish. Travel south just 1.6 miles puts you in Silver Lake’s Sunset Junction which is considered the trendiest community in Southern California, go east and you are in DTLA and locations west put you in Hollywood proper – all providing a myriad of cultural destinations and dining options. Given the property’s location and strong income metrics, 3267-71 Rowena Avenue is an ideal investment for apartment operators seeking strong returns along with long term wealth preservation and appreciation.