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858 S Bedford Street $11,500,000

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    858 S Bedford Street Los Angeles, CA 90035

    Closed
    SOLD 10/7/2022

    $11,500,000

    • 9 Beds
    • 10 Baths
    • 21,671 sq. ft.
    • Multi-Family
    • MLS# 22178897
    858 S Bedford Street, Los Angeles, CA 90035
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    Listing provided courtesy of: Marcus & Millichap
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    Property Details

    We are pleased to exclusively market for sale 858 South Bedford Street, a 14-unit (+ 1 non-conforming) condo mapped complex built in 2009 and located in prime Pico Robertson, just steps away from Beverly Hills. 858 S. Bedford is a magnificent building situated on an 11,394 square foot corner lot and consists of 21,671 rentable square feet. The subject property has one (1) studio unit (which was created as a large recreational room and being occupied as a unit), seven (7) two-bedroom / two and a half - bathroom units, six (6), three-bedroom / three-bathroom units, and one (1) large owners' unit three-bedroom / 4-bathroom penthouse. All units are equipped with central AC & heating, an in-unit washer & dryer, ADA-compliant bathrooms, double sinks in the kitchen, as well as tankless water heaters in most units. Furthermore, views and balconies/patios allow tons of natural light to flood the units. The parking garage boasts 35 parking spaces, including seven (7) electric car charging stations allowing for ample parking for all tenants. As far as security, the property has both exterior and interior cameras on every floor, an alarm system, an intercom at the entrance which tenants can access from the comfort of their cell phones, and finally, a secure electrical fence at the entrance of the garage that is controlled via remote control. Before the property was built, the seller signed an Ellis Act agreement making this property subject to RSO. This property is truly a well-maintained, pride of ownership asset located in one of the most sought-after and prestigious neighborhoods of Los Angeles. The current ownership developed this property to the highest standards and spared no expense throughout the process, with hopes of attracting serious and long-term tenants. This is the perfect opportunity for an investor looking to acquire superb real estate in a high-demand market. As a condo-mapped building, there would be multiple execution strategies that buyers could consider down the road, including traditional multifamily or a future condominium exit. If you are a long-term investor looking for an investment that offers peace of mind and is not very management intensive, look no further.

    • General Features
      • Buyer Compensation 1.500 %
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Number Of Units Total 14
      • One-Qtr Bathrooms 0
      • Three-Qtr Bathrooms 0
      • YearBuilt 2009
    • Building Features
      • Bedrooms Total 9
      • Cooling Central Air
      • Full Bathrooms 0
      • Half Bathrooms 0
      • Heating Central
      • Living Area 21671.00
    • Property Features
      • Lot Size Acres 0.26
      • Parking Total 35.00

    Neighborhood

    90035 (Los Angeles) Demographics

    38 Median Age
    13,537 Population Density (per sq. mile)
    68% College Educated
    $99,367 Estimated Median Income
    4,019 Estimated Total Home Owners
    8,030 Estimated Total Renters
    33% / 67% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    27,725 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $2,745,000 Median Sales Price
    13 Homes Sold
    49 New On Market

    Average Days on Site

      Properties for Sale
        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $0 -100%
        10/7/2022 2:00:00 AM Sold Source: Multiple Listing Service New Value: $11,500,000
        Based on information from California Regional Multiple Listing Service, Inc. as of 9/21/2023 2:50:22 AM PST. 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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.