1222 E 78th St Los Angeles, CA 90001
Florence-Graham NeighborhoodEstimated payment $11,746/month
Highlights
- Controlled Entrance
- Auto Driveway Gate
- 1-Story Property
- Rectangular Lot
About This Home
12-unit property with 11 studios and 1 one bedroom apartment. All units have their own bathrooms and full kitchens. This would be a perfect opportunity for a master lease option or purchase by a program to house their own clients. All units are to be delivered fully renovated and housing ready. A full renovation has just been completed which includes complete plumbing re-pipe, electrical re-wire with all brand new equipment and separate metering, HVAC systems, and new finishes. The project is pending the meters to be installed by Edison to obtain final status. This was previously an 8-unit motel that has now been converted to a 12-unit apartments community.
Listing Agent
Altman Apartments LLC Brokerage Phone: 310-903-0222 License #01965826 Listed on: 08/18/2025
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $13,832
Year Built
- Built in 1938
Lot Details
- 5,497 Sq Ft Lot
- No Common Walls
- Rectangular Lot
- Level Lot
Home Design
- Entry on the 1st floor
Interior Spaces
- 3,000 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Parking
- 5 Open Parking Spaces
- 5 Parking Spaces
- Parking Available
- Auto Driveway Gate
- Driveway
- Controlled Entrance
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Tax Lot 1308
- Tax Tract Number 5450
- Assessor Parcel Number 6024017056
- $3,996 per year additional tax assessments
Community Details
Overview
- 12 Units
Building Details
- Rent Control
- 12 Separate Electric Meters
- Fuel Expense $3,000
- Insurance Expense $4,521
- Maintenance Expense $9,100
- Pest Control $540
- Professional Management Expense $8,066
- Water Sewer Expense $5,000
- New Taxes Expense $23,720
- Operating Expense $54,948
- Gross Income $212,280
- Net Operating Income $146,717
Map
Home Values in the Area
Average Home Value in this Area
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 | $13,832 | $843,754 | $584,513 | $259,241 |
| 2024 | $13,832 | $827,210 | $573,052 | $254,158 |
| 2023 | $13,630 | $810,991 | $561,816 | $249,175 |
| 2022 | $15,708 | $795,090 | $550,800 | $244,290 |
| 2021 | $8,398 | $164,563 | $84,289 | $80,274 |
| 2020 | $8,410 | $162,876 | $83,425 | $79,451 |
| 2019 | $8,229 | $159,684 | $81,790 | $77,894 |
| 2018 | $7,990 | $156,554 | $80,187 | $76,367 |
| 2016 | $7,673 | $150,476 | $77,074 | $73,402 |
| 2015 | $7,547 | $148,217 | $75,917 | $72,300 |
| 2014 | $7,460 | $145,314 | $74,430 | $70,884 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/18/2025 08/18/25 | For Sale | $1,990,000 | +139.8% | $663 / Sq Ft | |
| 04/01/2021 04/01/21 | Sold | $830,000 | -16.9% | $332 / Sq Ft | View Prior Sale |
| 03/20/2021 03/20/21 | Pending | -- | -- | -- | |
| 11/14/2020 11/14/20 | Price Changed | $999,000 | -23.2% | $399 / Sq Ft | |
| 09/30/2020 09/30/20 | For Sale | $1,300,000 | -- | $519 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $779,500 | Wfg National Title Insurance C | |
| Interfamily Deed Transfer | -- | Chicago Title Company |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $840,000 | New Conventional | |
| Previous Owner | $413,000 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR25185850
APN: 6024-017-056
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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