$1,400,000
SOLD APR 16, 2025
11 Beds
9 Baths
5,837 Sq Ft
0.43 Acres

Recently Sold

$240 Per Sq Ft

10% Below List Price

37 Days on Market

About This Home

As of April 2025

1027 W 91st Street is a value add 8-unit multifamily property in South Los Angeles. The three buildings, totaling 5,837 sq. ft., consist of (1) 3Bd+2Ba, (2) 2Bd+1Ba, (4) 1Bd+1Ba and (1) Studio. They are situated on a huge 18,933 sq. ft. lot that is zoned *R3. This is the first time that this property has been on the market in 40 years.

Attractive seller financing is available and coupled with a current 6.71% cap rate and 9.48 GRM, the cash-on-cash return could be approximately 11% from day one. There is a large, paved lot in the rear of the property with 12 parking spaces. A new owner should consider adding ADUs here to further increase the value.

Last Agent to Sell the Property

Nick Ensbury

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-503-7574 License #02012167 Listed on: 01/25/2025

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Nick Ensbury

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-503-7574 License #02012167 Listed on: 01/25/2025

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,645

Year Built

  • Built in 1906

Lot Details

  • 0.43 Acre Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 12 Open Parking Spaces
  • 12 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 5,837 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 9 Bathrooms

Laundry

  • Laundry Room
  • Laundry on upper level
  • Dryer
  • Washer

Location

  • Urban Location
  • Suburban Location

Listing and Financial Details

  • Tax Lot 28
  • Tax Tract Number 6001
  • Assessor Parcel Number 6047015028

Community Details

Overview

  • 3 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 4 Separate Water Meters
  • Insurance Expense $7,588
  • Professional Management Expense $7,930
  • Trash Expense $3,600
  • Water Sewer Expense $7,920
  • Operating Expense $54,523
  • Gross Income $158,595
  • Net Operating Income $104,072

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,645

Year Built

Built in 1906

Lot Details

0

Parking

12

Listing Details

  • CapRate: 6.71
  • Price Per Unit: 193750
  • Professional Management Expense: 7930.00
  • Property Attached: Yes
  • Water Sewer Expenses: 7920.00
  • Zoning: LCR320U*
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 6047015028
  • Year Built: 1906
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: street
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 239.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 12.00
  • Total Parking Spaces: 24.00
  • Uncovered Spaces: 12.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Dryer Included, Gas Dryer Hookup, Individual Room, Upper Level, Washer Hookup, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 3600.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 18933.00
  • Lot Size Acres: 0.4346

Multi Family

  • Gross Income: 158595.00
  • Gross Multiplier: 9.48
  • Gross Scheduled Income: 163500.00
  • Insurance Expense: 7588.00
  • Lot Size Area: 18933.0000 Square Feet
  • Net Operating Income: 104072.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 4
  • Number Of Units Total: 8
  • Operating Expense: 54523.00
  • Rent Control: Yes
  • Total Expenses: 54523.00

Tax Info

  • Tax Census Tract: 6001.00
  • Tax Lot: 28
  • Tax Tract Number: 6001

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 25, 2025
Closed on
Mar 25, 2025
Sold by
Sylvester Pearson Revocable Trust and Warren Sharon Pearson
Bought by
Eg Developments Llc
Seller's Agent
Nick Ensbury
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Nick Ensbury
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,550,000
Sold Price
$1,400,000
Premium/Discount to List
-$150,000
-9.68%
Views
18
Current Estimated Value
$1,397,732

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$2,268
Avg. Annual Appreciation
-0.44%
Original Mortgage
$746,000
Outstanding Balance
$743,414
Interest Rate
6.76%
Mortgage Type
New Conventional
Estimated Equity
$654,318

Purchase Details

Closed on
Feb 14, 2022
Sold by
Sylvester Pearson
Bought by
Sylvester Pearson Revocable Trust
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,400,000 Fidelity National Title
Deed -- Law Office Of Jerome B Smith
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $746,000 New Conventional
Previous Owner $560,000 Commercial
Previous Owner $225,000 Commercial
Previous Owner $150,000 Commercial
Previous Owner $100,000 Credit Line Revolving
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/16/2025 04/16/25 Sold $1,400,000 -9.7% $240 / Sq Ft
03/03/2025 03/03/25 Pending -- -- --
01/25/2025 01/25/25 For Sale $1,550,000 -- $266 / 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 $8,645 $1,446,360 $1,020,000 $426,360
2024 $8,645 $302,452 $140,867 $161,585
2023 $8,139 $296,522 $138,105 $158,417
2022 $7,930 $290,709 $135,398 $155,311
2021 $7,879 $285,010 $132,744 $152,266
2020 $7,902 $282,088 $131,383 $150,705
2019 $7,736 $276,557 $128,807 $147,750
2018 $7,348 $271,135 $126,282 $144,853
2016 $6,937 $260,608 $121,379 $139,229
2015 $6,859 $256,694 $119,556 $137,138
2014 $6,901 $251,667 $117,215 $134,452
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25018301

California Regional Multiple Listing Service (CRMLS)

APN: 6047-015-028