624 and 630 S Dunsmuir Ave — Glaser Group | Los Angeles Multifamily Real Estate Broker

Side-by-side 8-unit buildings in Miracle Mile | 14-Day, All-Cash Close, Non-Contingent from Day 1

Sold: $4,525,000

Property Highlights

14 Day, All-Cash Close
Opened escrow Non-Contingent from Day 1
Delivered with seven vacancies
Generated 7 offers within first month of being on market
Two side-by-side 8-unit Spanish style buildings
15,088 Total SqFt; Each building 7,544 Sqft
All large 1+1 units with offices, average 943 SqFt each
Charming Spanish-style architecture with large bright units and hardwood floors throughout
Master metered for all utilities; all occupied units were eligible for 6% rent increases Day 1
On-site laundry room in basement of 630 Dunsmuir is shared between tenants of both buildings
Plumbing partially replaced with copper piping
12 uncovered parking spaces in back of the lots
First time on market in 50 years!
Two R4 zoned parcels totaling 15,597 SqFt of Land
Prime Miracle Mile near LACMA and The Grove

The Deal Story

The Glaser Group is pleased to announce the successful closing of 624 & 630 S Dunsmuir Ave, two side-by-side Spanish-style 8-unit buildings in the heart of Miracle Mile, Los Angeles. Delivered with seven vacant units, these properties presented a rare opportunity for the buyer to unlock immediate value, with eligible 6% rent increases on all occupied units from day one. The standout details of this transaction include a smooth 14-day escrow, with the deal being non-contingent from day 1 of opening escrow, and an all-cash closing. Our team first represented this family trust on the disposition of their 10-unit building down the block back in 2022, and they came back to us 2 years later ready to sell off their last properties in LA. Overall, it was an extremely successful marketing process, generating 7 offers and ultimately negotiating a completely non-contingent, all-cash deal for our clients.

Spanning a combined 15,088 square feet, each building boasts large, sunlit 1-bedroom, 1-bathroom units with offices, averaging 943 square feet each. The charming architecture, with its hardwood floors and bright, spacious interiors, added undeniable allure to these properties. Situated on separate R4 parcels totaling 15,597 square feet of land, the buildings include 12 uncovered parking spaces, a shared on-site laundry room, and partially replaced copper plumbing. Notably, this was the first time these properties were on the market in over 50 years.

If you're interested in exploring a similar sale or purchase, please shoot us an email or call us at 310-230-5157. We'd be happy to help.