NOT LISTED FOR SALE

1526 3rd Ave Los Angeles, CA 90019

Arlington Heights Neighborhood
9 Beds
8 Baths
4,320 Sq Ft
7,500 Sq Ft Lot

Last Sold April 22, 2019

Last sale price $1,300,000 $301 Per Sq Ft

38 Days on Market

About This Home

As of April 2019

MAKE BEST OFFERS! SELLER IS LOCAL, AND WANTS TO REVIEW ALL WRITTEN OFFERS. Drive by Only, do not disturb tenants. Fantastic Opportunity to own a well-maintained bread-and-butter 7 unit apartment building that already brings $72k annually, and will continue to have big upside over time. Great location in historic Mid Los Angeles neighborhood of Arlington Heights (Near prime Koreatown and Hancock Park!). Neighborhood is centrally located to command high rents on the open market. Rent rolls available in agent remarks. Property is a mix of 7 units currently. 4 units are 1BR layout. One 3BR layout. One 2 BR layout. One guest room unit (no kitchen). Total current monthly income is $6000+. Pro-forma schedule is $11,700 monthly (GRM = 9.2, Cap Rate = 8.7). Fantastic upside. 4 units currently have tenants over age of 60. 5 car carport. Current owner renovated unit #6 in 2016, and entire property was copper re-piped in 2017. Owner has spent nearly $100k in improvement in last 24 months.

Last Agent to Sell the Property

Rachel Hsieh

Keller Williams Realty Los Feliz License #01913428 Listed on: 01/27/2019

Keller Williams Realty Los Feliz

Last Buyer's Agent

Gabriela Lambert

Innovative Property Strategies License #01327946

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 7,500

Interior Spaces

  • 4,320 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Parking

  • 7 Parking Spaces
  • Carport

Additional Features

  • 7,500 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 7 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 5072-035-020

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Complex Name: 1526 3rd Avenue Apartments
  • Living Area: 4320
  • Probate: No
  • Stories: 2
  • Year Built: 1960
  • Builders Tract Name: Arlington Heights
  • Number Of Photos: 7
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Dining Room: 0
  • Family Room: 0
  • Laundry: Community, Room
  • Total Bathrooms: 8.00
  • Den: 0
  • Price Per S Q F T: 300.93

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Carport
  • Total Parking: 7

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Value: 300000
  • Assessed Land Value: 550000
  • Assessor Parcel Number: 5072-035-020
  • Geocode Override: No
  • Lot Size Area: 7500

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
  • Gross Rent Multiplier: 9.20
  • Number Of Units: 7
  • Total Annual Expense: 22730
  • Type Of Units: Apartment
  • Vacancy Rate: 3%

Range of Values:

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Average Value
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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 Change Sq Ft Price
04/22/2019 04/22/19 Sold $1,300,000 0.0% $301 / Sq Ft
03/06/2019 03/06/19 Pending -- -- --
02/19/2019 02/19/19 For Sale $1,300,000 0.0% $301 / Sq Ft
02/12/2019 02/12/19 Pending -- -- --
01/27/2019 01/27/19 For Sale $1,300,000 +52.9% $301 / Sq Ft
08/31/2016 08/31/16 Sold $850,000 -28.9% $197 / Sq Ft
07/26/2016 07/26/16 Pending -- -- --
04/07/2016 04/07/16 For Sale $1,195,000 -- $277 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rachel Hsieh

    Seller's Agent in 2019

    Rachel Hsieh

    Keller Williams Realty Los Feliz

    (424) 242-8856

    70 Total Sales

    Section Image
  • Gabriela Lambert

    Buyer's Agent in 2019

    Gabriela Lambert

    Innovative Property Strategies

    (310) 699-6946

    14 Total Sales

    Gabriela Lambert
    Section Image
  • Aileen Comora

    Seller's Agent in 2016

    Aileen Comora

    The Agency

    (310) 569-7950

    53 Total Sales

    Aileen Comora
    Section Image
  • Paul Lester

    Seller Co-Listing Agent in 2016

    Paul Lester

    The Agency

    (646) 884-2928

    59 Total Sales

    Paul Lester
    Section Image
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Map

Source: The MLS

MLS Number: 19-428304

The MLS

California Los Angeles County Los Angeles 90019 Arlington Heights

1526 3rd Ave, Los Angeles, CA

This home is located at 1526 3rd Ave, Los Angeles, CA 90019 since 27 January 2019. This property was built in 1960. 1526 3rd Ave is a home located in Los Angeles County with nearby schools including Carson-Gore Academy Of Enviornmental Studies, Pio Pico Middle School, and Los Angeles Senior High School.

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