$1,150,000
SOLD MAR 23, 2016
-- Bed
-- Bath
6,910 Sq Ft
0.28 Acres

Recently Sold

$166 Per Sq Ft

6% Below List Price

97 Days on Market

About This Home

As of February 2024

We are pleased to present for sale this eight (8) unit investment opportunity at 1116-1122 West Florence Avenue. The subject property is located in the Vermont Knolls neighborhood in Los Angeles. The property was built in 1957 and has an excellent unit mix of three (3) one bedroom/one bath units, two (2) two bedroom/two bath units and three (3) three bedroom/two bath units. Located in Vermont Knolls, this property is conveniently located near major freeways, local businesses and is in close vicinity to the Hollywood Park Redevelopment. This two building offering is situated on a 12156 Sq. Ft., lot and features an on-site laundry facility and a spacious parking lot.This property provides an opportunity for an investor to instantly attain a strong cash flow with the potential to raise rents and increase value.

Last Agent to Sell the Property

Noah Tillipman

Marcus & Millichap License #01968632 Listed on: 10/20/2015

Co-Listed By

Eric White

Vault Brokerage License #01905648

Last Buyer's Agent

OUT OF AREA

License #0

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Home Design

  • 6,910 Sq Ft Home

Parking

  • 8 Parking Spaces
  • Carport

Additional Features

  • 0.28 Acre Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 6019-011-027

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 6910
  • Year Built: 1957
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Dining Room: 0
  • Family Room: 0
  • Den: 0
  • Price Per S Q F T: 177.28

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Carport
  • Total Parking: 8

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Value: 151218
  • Assessed Land Value: 121198
  • Assessor Parcel Number: 6019-011-027
  • Geocode Override: No
  • Lot Size Area: 12157

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 9.80
  • Number Of Units: 8
  • Rent Control: 100
  • Total Annual Expense: 43966
  • Type Of Units: Apartments
  • Vacancy Rate: 3

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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

Property History

Date Event Price Change Sq Ft Price
02/22/2024 02/22/24 Sold $1,400,000 -3.4% $263 / Sq Ft
11/22/2023 11/22/23 Pending -- -- --
10/31/2023 10/31/23 Price Changed $1,449,000 -3.4% $272 / Sq Ft
08/24/2023 08/24/23 For Sale $1,499,999 +30.4% $282 / Sq Ft
03/23/2016 03/23/16 Sold $1,150,000 -6.1% $166 / Sq Ft
01/25/2016 01/25/16 Pending -- -- --
10/20/2015 10/20/15 For Sale $1,225,000 -- $177 / 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: 15-951575

The MLS