$1,877,777

Estimated payment $12,055/month

Total Views 1,219
8 Beds
5 Baths
4,888 Sq Ft
$384 Price per Sq Ft

Highlights

  • Front Porch
  • Laundry Room
  • Auto Driveway Gate
  • Living Room
  • Ceiling Fan

About This Home

Welcome to 1406 2nd Avenue, a beautifully upgraded traditional 4-plex located in the heart of Koreatown, one of Los Angeles' most dynamic and fast-growing neighborhoods. This rare investment opportunity offers four spacious unitseach approximately 1,230 sq. ft., with one unit at 1,300 sq. ft. featuring generous living areas, large dining spaces, in-unit laundry, and thoughtfully designed layouts ideal for both tenants and owner-users. Three units have been recently remodeled with hardwood flooring, granite kitchen countertops, and stylish finishes, while the largest unit is currently vacant and completely upgraded with new appliances, washer and dryer, kitchen cabinets, sink, countertops and will be offered for rent at $2,650/month. Major capital improvements include full plumbing replacement (2018), new water heaters (2024), and a durable silicone-coated roof. The property also offers eight parking spaces, separate water meters, and tenant-paid utilities in three units, ensuring low owner expenses. With strong rental income potential and immediate occupancy available, this property is an exceptional investment in a culturally vibrant and high-demand area.

Listing Agent

Herbert McGurk

Coldwell Banker Realty License #01361267 Listed on: 06/04/2025

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,132

Year Built

  • Built in 1924 | Remodeled

Interior Spaces

  • 4,888 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Living Room
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Gas Dryer Hookup

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Auto Driveway Gate

Utilities

  • Heating System Mounted To A Wall or Window
  • Gas Water Heater
  • Sewer in Street

Additional Features

  • Front Porch
  • 7,504 Sq Ft Lot

Community Details

  • 4 Units
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 5072-037-011

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,132

Year Built

Built in 1924 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Building Permit: Yes
  • Living Area: 4888
  • Lot Acreage: 0.1723
  • Probate: No
  • Property Condition: Updated/Remodeled
  • Stories: 2
  • Year Built: 1924
  • Number Of Photos: 20
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Dining Room: 0
  • Family Room: 0
  • Laundry: Laundry Area, Room, In Unit, Inside
  • Total Bathrooms: 5.00
  • Den: 0
  • Equipment: Ceiling Fan, Gas Dryer Hookup, Garbage Disposal
  • Price Per S Q F T: 384.16

Exterior Features

  • Other Structures: None
  • Patio: Porch - Front
  • Pool: No

Garage/Parking

  • Other Spaces: 8
  • Parking Garage: Uncovered, Driveway Gate
  • Total Parking: 8

Utilities

  • Water Heater: Gas
  • Heating: Wall
  • Sewer: In Street
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 25.00
  • Assessed Improvement Value: 446206
  • Assessed Land Percent: 75
  • Assessed Land Value: 1338621
  • Total Assessed Value: 1784827
  • Assessor Parcel Number: 5072-037-011
  • Lot Size Area: 7504

Rental Info

  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas, Water, Special, Cable TV, Air Cond/Heat Maint

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 16.12
  • Number Of Units: 4
  • Rent Control: 100
  • Total Annual Expense: 29314
  • Type Of Units: 2 bed/1 bath
  • Vacancy Allow Percent: 75.00
  • Vacancy Rate: 1

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $22,132 $1,820,523 $1,365,393 $455,130
2024 $22,132 $1,784,827 $1,338,621 $446,206
2023 $21,711 $1,749,831 $1,312,374 $437,457
2022 $20,714 $1,715,522 $1,286,642 $428,880
2021 $20,445 $1,681,885 $1,261,414 $420,471
2019 $19,838 $1,632,000 $1,224,000 $408,000
2018 $13,858 $1,115,073 $667,967 $447,106
2016 $13,223 $1,071,776 $642,030 $429,746
2015 $13,032 $1,055,678 $632,387 $423,291
2014 $8,243 $636,878 $502,270 $134,608
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/04/2025 06/04/25 For Sale $1,877,777 +17.4% $384 / Sq Ft
04/05/2018 04/05/18 Sold $1,600,000 0.0% $327 / Sq Ft
02/18/2018 02/18/18 Pending -- -- --
01/24/2018 01/24/18 For Sale $1,599,900 +54.6% $327 / Sq Ft
05/31/2014 05/31/14 Sold $1,035,000 +6.2% $212 / Sq Ft
03/12/2014 03/12/14 Pending -- -- --
03/04/2014 03/04/14 For Sale $975,000 -- $199 / Sq Ft
Source: The MLS

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,600,000 Provident Title Company
Grant Deed $1,035,000 Fidelity National Title Co
Interfamily Deed Transfer -- Chicago Title Company
Trustee Deed $634,000 None Available
Grant Deed $265,000 North American Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $825,000 Adjustable Rate Mortgage/ARM
Previous Owner $701,000 New Conventional
Previous Owner $510,000 Credit Line Revolving
Previous Owner $75,000 Credit Line Revolving
Previous Owner $460,000 Unknown
Previous Owner $80,000 Credit Line Revolving
Previous Owner $370,000 Unknown
Previous Owner $50,000 Stand Alone Second
Previous Owner $251,750 No Value Available
Source: Public Records

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Source: The MLS

MLS Number: 25548609

The MLS

APN: 5072-037-011