3348 Descanso Dr, Los Angeles, CA
Rare Opportunity to Reposition an Entire 13,319-SF Residential Building in Los Angeles’ Sought-After Silver Lake Neighborhood
Excellent Location Near Sunset Boulevard and Surrounded by Million-Dollar Homes
Currently Operated as a 27-Room Care Facility With Jack-and-Jill Bathrooms
Building Features a Rooftop Deck With Enviable Views and a Spacious Patio That Stretches the Entire Length of the Property
Potential for a New Investor to Reposition the Asset to a New Use or Lease to a New Operator
3348 Descanso Dr
Los Angeles, CA
The Bogie Group of Marcus & Millichap is pleased to present to market 3348 Descanso Drive, a rare and unique opportunity to reposition an entire 13,319-square foot care facility surrounded by million-dollar homes in Los Angeles’ sought-after Silver Lake neighborhood.
The building is a three-story, 1964 construction that is currently operated as a 27-room board and care facility by a single-operator tenant on a month-to-month NNN lease. The tenant is aware of the sale and has stated they are willing to vacate at any time, making this an excellent value-add opportunity.
The building’s current layout is as follows: the ground floor features a large commercial kitchen, laundry facility, storage room, two traditional apartment units, and a large patio that stretches the length of the property. The second floor offers 16 rooms of similar size, with pairs of rooms sharing jack-and-jill bathrooms. The third floor has eight similar rooms and boasts a spacious deck with breathtaking views of Downtown Los Angeles. The building also features staff restrooms on each floor and a non-operational elevator.
This offering provides a rare opportunity for an investor to reposition the asset, either by leasing to a new operator or an affordable housing syndicate, or by exploring the potential to convert the building into traditional apartment units.