NOT LISTED FOR SALE
10 Beds
6 Baths
3,218 Sq Ft
6,299 Sq Ft Lot

Last Sold August 04, 2021

Last sale price $110,000 $34 Per Sq Ft

63 Days on Market

Highlights

  • Chain Link Fence
  • Level Lot
  • Wall Furnace

About This Home

As of August 2021

On the hunt for a quality investment opportunity where you can experience excellent income generation? Conveniently set near downtown Los Angeles and a fantastic Section 8 rental opportunity, this apartment complex offers six units in total, all tastefully remodeled inside and out. Each home showcases two bedrooms, one full bath, and open main living areas, including front-facing units where you’ll have better views of the outdoors.

Newly installed dark hardwood-style floors complement the warm color tones throughout, creating a welcoming ambiance for everyone. A series of interior upgrades are on show, including new kitchens, bathrooms, and dual-pane windows. You’ll have lesser worries about repairs and maintenance with the recent replacement of the electrical fixtures and panels, plus tankless water heaters are already installed. Outside, the new asphalt driveway and parking spots are ready for your future tenants' convenience. Plus, its direct street access allows you to come and go seamlessly. All the roofs have also been re-tarred and redone and have newly installed rain gutters and fascia boards for peace of mind.

With its popular LA location near sports and concert venues like the new SoFi Stadium, USC and the Memorial Coliseum, and the Forum, tenants will likely flock to this turn-key complex. Shopping, dining, nightlife, LAX, and more are also within easy reach - a win for you and your tenants. All 6 units are now rented, so grab the opportunity to secure your immediate income as early as now. With its nearly 10% cap rate, you might regret not coming for a tour before this incredible investment property is gone for good! HD Video Tour: http://tinyurl.com/10012broadway

Last Agent to Sell the Property

Jorge Lopez

Jorge Lopez, Broker License #01919114 Listed on: 05/12/2021

Last Buyer's Agent

CONSUELO RODRIGUEZ

RICO & RICO REALTY AND ASSOCIATES License #01762067

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,299 Sq Ft Lot
  • Two or More Common Walls
  • Chain Link Fence
  • Level Lot
  • Density is up to 1 Unit/Acre

Home Design

  • 3,218 Sq Ft Home
  • Property Attached
  • Flat Roof Shape
  • Composition Roof

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 28
  • Tax Tract Number 3064
  • Assessor Parcel Number 6053022009

Community Details

Overview

  • 2 Buildings
  • 6 Units

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $700
  • Insurance Expense $3,500
  • Maintenance Expense $1,500
  • Other Expense $500
  • Professional Management Expense $4,500
  • Supplies Expense $600
  • Trash Expense $1,500
  • Water Sewer Expense $2,000
  • New Taxes Expense $14,000
  • Operating Expense $28,300
  • Gross Income $129,600
  • Net Operating Income $100,450

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • CapRate: 9.14
  • Professional Management Expense: 4500.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Supplies Expense: 600.00
  • Water Sewer Expenses: 2000.00
  • Zoning: Mixed Use
  • Property Type: Residential Income
  • Parcel Number: 6053022009
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 34.18

Exterior Features

  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Composition, Flat

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Trash Expense: 1500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Level with Street, Level
  • Lot Size Sq Ft: 6299.00
  • Lot Size Acres: 0.1446

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 700.00
  • Gross Income: 129600.00
  • Gross Scheduled Income: 129600.00
  • Insurance Expense: 3500.00
  • Lot Size Area: 6299.0000 Square Feet
  • Maintenance Expense: 1500.00
  • Net Operating Income: 100450.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Number With Disposal: 6
  • Operating Expense: 29150.00
  • Other Expense: 500.00
  • Rent Control: No
  • Total Actual Rent: 9000.00
  • Total Expenses: 28300.00

Tax Info

  • New Taxes Expense: 14000.00
  • Tax Lot: 28
  • Tax Rate: 1.25
  • Tax Tract Number: 3064
  • Tax Annual Amount: 13750.00
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 12, 2021
Closed on
Jul 14, 2021
Sold by
Golden Rule Lending Llc
Bought by
Wyn Dixie Corporation
Seller's Agent
Jorge Lopez
Jorge Lopez, Broker
Buyer's Agent
CONSUELO RODRIGUEZ
RICO & RICO REALTY AND ASSOCIATES
List Price
$1,099,000
Sold Price
$110,000
Premium/Discount to List
-$989,000
-89.99%

Purchase Details

Closed on
Jul 18, 2019
Sold by
June Richard and Estate Mary L June
Bought by
Golden Rule Lending Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$425,000
Interest Rate
3.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 13, 2007
Sold by
June Charles F and June Lott
Bought by
June Charles F and June Lott

Purchase Details

Closed on
Aug 13, 1999
Sold by
June Charles F
Bought by
June Charles F and June Lott

Purchase Details

Closed on
Feb 19, 1997
Sold by
June Charles F
Bought by
June Charles F and June Cleotha
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Wyn Dixie Corporation $1,100,000 Pacific Coast Title
Golden Rule Lending Llc $375,000 Pacific Coast Title
June Charles F -- None Available
June Charles F -- --
June Charles F -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Golden Rule Lending Llc $425,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/04/2021 08/04/21 Sold $110,000 0.0% $34 / Sq Ft
07/14/2021 07/14/21 Pending -- -- --
07/03/2021 07/03/21 Off Market $110,000 -- --
05/12/2021 05/12/21 For Sale $1,099,000 -- $342 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $15,169 $1,167,328 $764,069 $403,259
2024 $15,169 $1,144,440 $749,088 $395,352
2023 $14,885 $1,122,000 $734,400 $387,600
2022 $15,330 $1,100,000 $720,000 $380,000
2021 $6,554 $424,351 $353,626 $70,725
2020 $6,603 $420,000 $350,000 $70,000
2019 $7,020 $466,721 $197,759 $268,962
2018 $6,867 $457,571 $193,882 $263,689
2016 $6,538 $439,804 $186,354 $253,450
2015 $6,437 $433,198 $183,555 $249,643
2014 $6,439 $424,713 $179,960 $244,753
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW21100818

California Regional Multiple Listing Service (CRMLS)

APN: 6053-022-009