NOT LISTED FOR SALE

115 E 31st St Los Angeles, CA 90011

Historic South Central Neighborhood

Estimated Value: $1,063,000 - $1,556,000

7 Beds
3 Baths
3,420 Sq Ft
$377/Sq Ft Est. Value

Last Sold March 30, 2022

Last sale price $1,295,000 $379 Per Sq Ft

Est. 1% decrease in value since last sale

Current estimated payment $8,120/month

61 Days on Market

About This Home

As of March 2022

Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA's rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted. Pro Forma 5.8% cap rate after ADU is complete. The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C is a remodeled 2 bed/1 bath currently rented for $1,790. On top of that, permits are ready to convert the garage into a legal studio/4th unit. RTI permits sold with property. All you need to do is pull the permits and start construction! All units remodeled with high-quality floors, appliances, and finishes. There on-site parking for each unit, and laundry inside each unit. Close to DTLA, USC, Fashion District, and lots of new development. This is one is a no-brainer! Owner is motivated, make all offers.

Last Agent to Sell the Property

Oron Maher

Maher Commercial Realty License #01299093 Listed on: 01/05/2022

Maher Commercial Realty

Last Buyer's Agent

Sam Liberow

Marcus & Millichap License #01933858

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 6,283

Parking

  • 1 Car Garage
  • Gated Parking

Home Design

  • 3,420 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry in unit
  • Gas Dryer Hookup

Utilities

  • Heating System Mounted To A Wall or Window
  • Cable TV Available

Additional Features

  • Gas Oven
  • 6,283 Sq Ft Lot

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 5128-005-040

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Advertising Remarks: Fully remodeled and clean building built in 1984 which means you can raise rent by 5%/year + CPI (over 10% increase after COVID restrictions lifted. Triplex with approved permits for a garage ADU conversion. Parking for each unit and laundry in each unit.
  • Living Area: 3420
  • Lot Acreage: 0.1442
  • Price Per Unit: 400000.00
  • Probate: No
  • Year Built: 1984
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Appliances: Oven-Gas
  • Bedrooms: 7
  • Common Walls: Attached
  • Laundry: In Unit
  • Laundry Equipment: Own
  • Total Bathrooms: 3.00
  • Equipment: Gas Dryer Hookup, Range/Oven, Refrigerator, Cable, Hood Fan
  • Price Per S Q F T: 350.88

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Garage Spaces: 1
  • Garage Structures: 1
  • Parking Garage: Gated
  • Total Parking: 5

Utilities

  • Heating: Wall Gas

Lot Info

  • Assessed Improvement Percent: 47.51
  • Assessed Improvement Value: 328004
  • Assessed Land Percent: 52.49
  • Assessed Land Value: 362369
  • Total Assessed Value: 690373
  • Assessor Parcel Number: 5128-005-040
  • Lot Size Area: 6283

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 14.41
  • Number Of Units: 4
  • Type Of Units: Apartments

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 2, 2021
Sold by
Maher Oron and Pezeshkifar Amy
Bought by
Upper West Side Investment Company Llc
Current Estimated Value
$1,288,115

Purchase Details

Listed on
Oct 28, 2019
Closed on
Dec 24, 2020
Sold by
Coffee Kimberly F and Washington Marilyn L
Bought by
Maher Oron and Pezeshkifar Amy
Seller's Agent
NANCY STAMP
EXP REALTY OF CALIFORNIA INC
List Price
$685,000
Sold Price
$685,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.49%
Original Mortgage
$513,750
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 20, 2007
Sold by
Coffee Kimberly F
Bought by
Coffee Kimberly F and Washington Marilyn L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,000
Interest Rate
6.73%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 11, 2006
Sold by
Washington Marilyn L
Bought by
Coffee Kimberly F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,000
Interest Rate
6.2%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Jul 29, 2005
Sold by
Washington Marilyn L
Bought by
Washington Marilyn L and Coffee Kimberly F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
7.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 27, 2005
Sold by
Coffee Kimberly F
Bought by
Washington Marilyn L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
7.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 8, 2004
Sold by
Mejia David and Mejia Carol Beltran
Bought by
Coffee Kimberly F and Washington Marilyn J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$374,707
Interest Rate
6.24%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 16, 2003
Sold by
Beltran Alex and Beltran Rosa
Bought by
Mejia David and Mejia Carol Beltran

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Interest Rate
5.15%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
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

Purchase History

Date Buyer Sale Price Title Company
Upper West Side Investment Company Llc -- Lawyers Title
Maher Oron $685,000 Chicago Title
Coffee Kimberly F -- Chicago Title Co
Coffee Kimberly F -- Chicago Title Co
Washington Marilyn L -- --
Washington Marilyn L -- Chicago Title Co
Coffee Kimberly F $380,000 Chicago Title Co
Mejia David -- Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Maher Oron $513,750
Previous Owner Coffee Kimberly F $66,000
Previous Owner Coffee Kimberly F $125,000
Previous Owner Washington Marilyn L $440,000
Previous Owner Coffee Kimberly F $374,707
Previous Owner Mejia David $215,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/30/2022 03/30/22 Sold $1,295,000 +7.9% $379 / Sq Ft
03/07/2022 03/07/22 Pending -- -- --
01/18/2022 01/18/22 Price Changed $1,200,000 -7.3% $351 / Sq Ft
01/05/2022 01/05/22 For Sale $1,295,000 +89.1% $379 / Sq Ft
01/07/2021 01/07/21 Sold $685,000 0.0% $220 / Sq Ft View Prior Sale
08/03/2020 08/03/20 For Sale $685,000 0.0% $220 / Sq Ft
07/30/2020 07/30/20 Pending -- -- --
07/27/2020 07/27/20 For Sale $685,000 0.0% $220 / Sq Ft
06/16/2020 06/16/20 Pending -- -- --
02/11/2020 02/11/20 For Sale $685,000 0.0% $220 / Sq Ft
11/14/2019 11/14/19 Pending -- -- --
10/28/2019 10/28/19 For Sale $685,000 -- $220 / Sq Ft
Source: The MLS

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 $16,695 $1,374,263 $848,966 $525,297
2024 $16,695 $1,347,318 $832,320 $514,998
2023 $16,374 $1,320,900 $816,000 $504,900
2022 $8,667 $698,700 $408,000 $290,700
2021 $8,615 $697,525 $366,123 $331,402
2020 $8,697 $690,373 $362,369 $328,004
2019 $8,361 $676,837 $355,264 $321,573
2018 $8,225 $663,567 $348,299 $315,268
2016 $7,840 $637,802 $334,775 $303,027
2015 $7,727 $628,223 $329,747 $298,476
2014 $7,765 $615,918 $323,288 $292,630
Source: Public Records

Agents Affiliated with this Home

  • Oron Maher

    Seller's Agent in 2022

    Oron Maher

    Maher Commercial Realty

    (630) 649-9961

    1 in this area

    38 Total Sales

    Oron Maher
    Section Image
  • Sam Liberow

    Buyer's Agent in 2022

    Sam Liberow

    Marcus & Millichap

    (718) 406-3128

    1 in this area

    57 Total Sales

    Sam Liberow
    Section Image

  • N

    Seller's Agent in 2021

    NANCY STAMP

    EXP REALTY OF CALIFORNIA INC

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Map

Source: The MLS

MLS Number: 21-100353

The MLS

APN: 5128-005-040

California Los Angeles County Los Angeles 90011 Historic South Central

115 E 31st St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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