1074 S Genesee Ave, Los Angeles, CA 90019

Property Description

1074 S Genesee Avenue, also known as the Charlotte Chase Apartments, is an architecturally significant Spanish Colonial Revival 4-plex located in the highly desirable Carthay Square / Wilshire Vista neighborhood of Los Angeles. Originally constructed in 1933 for Charlotte Chase herself, the property stands as an exceptional example of well-preserved period architecture and craftsmanship. The building has been carefully maintained and thoughtfully upgraded, featuring in-unit washer/dryers and central HVAC systems in units 1074, 1076-3, and 1076-4, and extensively renovated kitchens and bathrooms. Additional features include original wainscoting, hardwood floors, decorative ceiling beams, crown molding, and vintage bathroom tile work that highlight the property's historic character. The property is currently receiving extensive cosmetic repairs to the exterior stucco and will be repainted shortly, photos are circa 2020. The 5,054 square foot building sits on a 7,267 square foot LAR3 lot and features a unique unit mix consisting of a massive 2,158 SF 3-bedroom, 3.5-bath owner's unit occupying the entire ground floor, along with a 1-bedroom + 1.5-bath, a 1-bedroom + 1-bath, and a studio on the upper level. The property also includes two detached two-car garages plus three uncovered spaces, providing a total of seven parking spaces. With strong in-place income of just under $13,500 per month, this offering is priced at $2,225,000, equating to $556,250 per unit, $440.25 per square foot, and a 13.79 GRM. Under Senate Bill 1211, an investor may build up to four ADUs and modify or retain some of the seven parking spaces (Buyer to Verify).