$4,300,000
SOLD MAR 8, 2016
16 Beds
12 Baths
11,880 Sq Ft
0.37 Acres

Recently Sold

$362 Per Sq Ft

10% Below List Price

47 Days on Market

About This Home

As of March 2016

We are pleased to offer for sale, 1047 & 1053 South Orange Grove Avenue, consisting of 12 apartment homes surrounding a large open courtyard.The asset, built in 1933 is located one (1) block south of Olympic Blvd. in the Miracle Mile sub-market of Los Angeles (90019) and within close proximity to THE GROVE, LACMA, Hancock Park and numerous area entertainment and dining venues.The exceptional courtyard multifamily is situated on TWO large R3 Zoned parcels totaling 15,962 SF of land with a unit mix consisting of Four (4) large Two Bedroom / One Bathroom and Eight (8) One Bedroom / One Bathroom apartment homes in 2 structures. The current Rents are 50% Below market. Pro Forma Numbers are 6.9% CAP & 11.1 GRM with Gross Income of $430,800. **Please email agent forfull offering memorandum & complete details.**

Last Agent to Sell the Property

Adam Zunder

Iconic Investments License #01821053 Listed on: 11/10/2015

Co-Listed By

Rich Johns

KW Commercial Studio City License #01432215

Last Buyer's Agent

Adam Zunder

Iconic Investments License #01821053 Listed on: 11/10/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1933

Lot Details

  • 0.37 Acre Lot

Interior Spaces

  • 11,880 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 12 Bathrooms

Parking

  • 12 Parking Spaces
  • Carport

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 12 Units

Listing and Financial Details

  • Assessor Parcel Number 5086-001-060

Property Details

Home Type

Multi-Family

Year Built

Built in 1933

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 11880
  • Stories: 2
  • Year Built: 1933
  • Number Of Photos: 25
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 16
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 12.00
  • Den: 0
  • Price Per S Q F T: 403.03

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Carport
  • Total Parking: 12

Utilities

  • Cooling: Wall Unit(s)
  • Heating: Wall

Lot Info

  • Assessed Improvement Value: 226463
  • Assessed Land Value: 221391
  • Assessor Parcel Number: 5086-001-060
  • Geocode Override: Yes
  • Lot Size Area: 15962

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117
  • Gross Rent Multiplier: 21.60
  • Number Of Units: 12
  • Total Annual Expense: 93495
  • Type Of Units: Apartments
  • Vacancy Rate: 0%

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/14/2021 03/14/21 Rented $3,850 0.0% --
01/14/2021 01/14/21 For Rent $3,850 0.0% --
03/08/2016 03/08/16 Sold $4,300,000 -10.2% $362 / Sq Ft
12/27/2015 12/27/15 Pending -- -- --
11/10/2015 11/10/15 For Sale $4,788,000 -- $403 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 15-958789

The MLS