1718 N Vista St, Los Angeles, CA 90046

Property Description

Perfect owner-user or family/creative compound. Vista Gardens is a private, gated community consisting of five exceptional for-lease single family homes as an income producing property at the base of the Hollywood Hills. Comprised of three bedroom and four bedroom two-story homes that average over 2,000 square feet, each home has beautiful appointments, including hardwood floors and crown molding. All of the homes have a formal dining room, a separate laundry room, and an additional room that can be used as a bedroom, office, library or family room. Two gated vehicle entrances lead to private garages. The five homes sit behind a private wall in a lushly manicured courtyard setting on over 27,000 square feet of land. Each home has its own dedicated lawn as well as one or two large balconies off of the upstairs bedrooms. One home has a private swimming pool and expansive deck in its backyard. The Seller recently invested approximately $500,000 in a comprehensive transformation of 1722 N. Vista Street, a distinguished four-bedroom residence complete with a swimming pool. This meticulous renovation included the addition of a fourth en-suite bathroom, a complete upgrade of the plumbing infrastructure, anew roof, and a modernized electrical system. Enhancements to the outdoor living space feature a newly constructed pool deck. The interior has undergone a complete cosmetic rejuvenation, including the installation of bespoke cabinetry and flooring throughout, alongside the finest new fixtures, exquisite tilework, and luxurious new bathtubs and shower fixtures in each bathroom, among numerous other refinements. At the end of 2020, four homes were appointed with central heat and air and refurbished hardwood floors. As well, the mature landscaping has been meticulously maintained. Based on recent single family home rent comparables, there appears to be approximately 14% upside. Located just two blocks south of Runyon Canyon Park and north of Hollywood Boulevard, Vista Gardens is walking distance to the vibrant restaurants and retail shops along world-famous Sunset Boulevard, and is central to Hollywood's legendary entertainment industry employment base and best-in-class entertainment venues. Vista Gardens provides a savvy investor the rare opportunity to acquire five elegantly appointed single family rental homes on an oversized lot in the heart of Hollywood.