NOT LISTED FOR SALE

1144 Elden Ave Los Angeles, CA 90006

Pico-Union Neighborhood
18 Beds
15 Baths
9,758 Sq Ft
7,000 Sq Ft Lot

Last Sold June 18, 2024

Last sale price $2,310,000 $237 Per Sq Ft

322 Days on Market

Highlights

  • Gated Parking
  • Built-In Features
  • 14 Car Garage
  • Balcony
  • Central Heating and Cooling System
  • Gated Home

About This Home

As of June 2024

We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target).

Last Agent to Sell the Property

Kenny Stevens

Compass License #01090251 Listed on: 07/21/2023

Compass

Co-Listed By

Matthew Hoult

Christie's International Real Estate SoCal License #02112916

Last Buyer's Agent

Kenny Stevens

Compass License #01090251 Listed on: 07/21/2023

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 7,000 Sq Ft Lot
  • West Facing Home
  • Gated Home

Interior Spaces

  • 9,758 Sq Ft Home
  • 3-Story Property
  • Built-In Features
  • Laundry in Garage

Kitchen

  • Oven or Range
  • Freezer

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 15 Bathrooms

Parking

  • 14 Car Garage
  • Gated Parking

Additional Features

  • Balcony
  • Central Heating and Cooling System

Community Details

  • 12 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 5076-012-008

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Alley: Yes
  • Living Area: 9758
  • Lot Acreage: 0.1607
  • Stories: 3
  • Year Built: 1986
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 18
  • Common Walls: Attached
  • Laundry: Garage, Community
  • Total Bathrooms: 15.00
  • Equipment: Built-Ins, Freezer, Refrigerator, Range/Oven
  • Price Per S Q F T: 307.44

Exterior Features

  • Direction Faces: West
  • Other Features: Balcony
  • Other Structures: None
  • View: No

Garage/Parking

  • Parking Garage: Gated, Garage
  • Total Parking: 14

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Gated

Lot Info

  • Assessor Parcel Number: 5076-012-008
  • Lot Location: Alley Access
  • Lot Size Area: 7000

Rental Info

  • Rent Control: No

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 12.62
  • Number Of Units: 12
  • Type Of Units: Apartments

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
Not Available
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

Property History

Date Event Price List to Sale Price per Sq Ft
06/18/2024 06/18/24 Sold $2,310,000 -23.0% $237 / Sq Ft
07/21/2023 07/21/23 For Sale $3,000,000 -- $307 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kenny Stevens

    Seller's Agent in 2024

    Kenny Stevens

    Compass

    (424) 284-4453

    2 in this area

    43 Total Sales

    Kenny Stevens
    Section Image
  • Matthew Hoult

    Seller Co-Listing Agent in 2024

    Matthew Hoult

    Christie's International Real Estate SoCal

    (310) 867-9822

    2 in this area

    28 Total Sales

    Matthew Hoult
    Section Image
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Map

Source: The MLS

MLS Number: 23-293115

The MLS
California Los Angeles County Los Angeles 90006 Pico-Union

1144 Elden Ave, Los Angeles, CA

Not Listed for Sale

MultiFamily

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