NOT LISTED FOR SALE

1345 W Martin Luther King jr Blvd Los Angeles, CA 90037

Exposition Park Neighborhood
3 Beds
2 Baths
6,692 Sq Ft
7,870 Sq Ft Lot

Last Sold March 26, 2012

Last sale price $575,000 $86 Per Sq Ft

24 Days on Market

Highlights

  • Contemporary Architecture
  • Wood Siding
  • No Heating

About This Home

As of March 2012

We are pleased to present this 10 unit apartment complex located in a prime Los Angeles rental location. The complex is located near Normandie Ave and Martin Luther King Blvd. The rents are substantially below market and the GRM is low. Great cash flow with a 6.1 GRM and OVER A 9.3 CAP RATE AT MARKET RENTS! Blocks from L.A. Sports Arena & L.A. Coliseum. This apartment property presents a buyer with a unique opportunity to purchase a well-located Los Angeles apartment property. The property has the potential for significant upside in rents through an upgrade, better management and the repositioning of the property. Please do not walk on property and please do not disturb the tenants. Make all offers subject to inspection. NOD filed but this is not a short sale.

Last Agent to Sell the Property

George Bustamante

Coldwell Banker Commercial License #01484265 Listed on: 12/16/2011

Coldwell Banker Commercial

Co-Listed By

Arthur Ritz

No Firm Affiliation License #00976003

Last Buyer's Agent

George Bustamante

Coldwell Banker Commercial License #01484265 Listed on: 12/16/2011

Coldwell Banker Commercial

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 7,870 Sq Ft Lot

Parking

  • 10 Parking Spaces

Home Design

  • 6,692 Sq Ft Home
  • Contemporary Architecture
  • Wood Siding
  • Stucco

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Utilities

  • No Heating
  • Sewer Paid

Listing and Financial Details

  • Tax Block C
  • Tax Tract Number 2
  • Assessor Parcel Number 5037001016

Community Details

Overview

  • 10 Units

Building Details

  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Net Operating Income $42,994

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 6.93
  • View: No
  • Architectural Style: Contemporary
  • Property Type: Residential Income
  • Parcel Number: 5037001016
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 85.92

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Available
  • Heating: No
  • Laundry: No
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 7870.00
  • Lot Size Acres: 0.1810

Multi Family

  • Gross Multiplier: 7.31
  • Gross Scheduled Income: 84852.00
  • Lot Size Area: 7870.0000 Square Feet
  • Net Operating Income: 42994.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 10
  • Operating Expense: 37615.00

Tax Info

  • Tax Area: 210
  • Tax Block: C
  • Tax Lot: 0.
  • Tax Tract Number: 2

Range of Values:

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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 Change Sq Ft Price
03/26/2012 03/26/12 Sold $575,000 -7.3% $86 / Sq Ft
01/09/2012 01/09/12 Pending -- -- --
12/16/2011 12/16/11 For Sale $620,000 -- $93 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • George Bustamante

    Seller's Agent in 2012

    George Bustamante

    Coldwell Banker Commercial

    (562) 326-5043

    42 Total Sales

    Section Image

  • A

    Seller Co-Listing Agent in 2012

    Arthur Ritz

    No Firm Affiliation

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P806152

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Los Angeles 90037 Exposition Park

1345 W Martin Luther King jr Blvd, Los Angeles, CA

This home is located at 1345 W Martin Luther King jr Blvd, Los Angeles, CA 90037 since 16 December 2011. This property was built in 1959. 1345 W Martin Luther King jr Blvd is a home located in Los Angeles County with nearby schools including Normandie Avenue Elementary School, Barack Obama Global Preparation Academy, and Manual Arts Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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