About The Property

Located on a spacious corner lot just two blocks West of Hillhurst Avenue, 1900 Dracena resides within walking distance to some of the best eating, dining and nightlife options the neighborhood has to offer. Constructed in 1965, the two-story building is comprised of (6) 2-bdrm. and 2-bath units and (2) 1-bdrm. units. Property amenities include a gated, subterranean garage (7 enclosed spaces and 1 open space) and a community laundry room.

Stats

Price $3,600,000

City Los Feliz

Units 8

Current CAP 3.99%

Price p/ Sq. ft. $484

Price P/ Unit $450,000

Background

Located in the family-friendly and ultra-hip Los Feliz submarket, just two blocks West of Hillhurst Ave, this 8-unit stabilized property serves as an ideal ‘Grade A’ investment for years to come. Despite the long-term promise, the Seller wanted to diversify their portfolio and cash out.

Result

Escrow opened one month after signing the listing agreement. Despite multiple obstacles during the DD period, such as resolving unpermitted work, escrow closed 60 days later at $3,600,000. The Sellers were thrilled that KST was able to get the deal to the finish line.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)

Next Success Story.

Heritage Square Portfolio, Northeast Los Angeles
Price Paid: $5,270,000
View Success Story