NOT LISTED FOR SALE

1613 W 81st St Los Angeles, CA 90047

Manchester Square Neighborhood
10 Beds
5 Baths
4,267 Sq Ft
6,748 Sq Ft Lot

Last Sold June 14, 2016

Last sale price $876,000 $205 Per Sq Ft

6 Days on Market

Highlights

  • Property is near public transit
  • No HOA
  • Built-In Features
  • Granite Countertops
  • Balcony
  • Living Room

About This Home

As of June 2016

The subject is a newer, well-maintained five-unit apartment building constructed in 1984. It has not been offered for sale since 1998. The building includes one 1BR/1BA unit, three 2BR/1BA units and one 3BR/1BA unit. There are four Section 8 tenants. This property shows great--all hardscape surfaces are concrete, there are 10 on-site parking spaces, a trash enclosure, tenant storage lockers, a newer 200-gal. central water heater and individual gas meters. Owner is presently installing a new torch-down roof. Most units have patios or balconies. Rental rates are well below market. The last rental was a 2BR rented to a Section 8 tenant for $1,475/month. Property is not subject to rent control regulations.

The property is located on a residential street in Vermont Knolls, 3/4 of a mile from Inglewood. Approx. 1.5 miles to the SW, approx. 300 acres of the former Hollywood Park racetrack is being redeveloped into a $2.6 billion entertainment district with an 80,000 seat stadium for the L. A. Rams, 1.5 million sf of retail/office, a 6,000 seat performance venue, a 300-room hotel and 2,500 homes. The stadium is projected for completion in 2019. The above project is expected to bring tremendous growth to the area. Stated GRM and NOI are proforma.

Last Agent to Sell the Property

Carl Reinhart

Carl Reinhart, Broker License #00647355 Listed on: 05/17/2016

Last Buyer's Agent

Daron Case

Re/Max Commercial & Investment License #01702754

Re/Max Commercial & Investment

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 6,748 Sq Ft Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Fence is in excellent condition
  • Landscaped
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • Density is 31-35 Units/Acre

Home Design

  • Property Attached
  • Entry on the 1st floor
  • Slab Foundation
  • Fire Rated Drywall
  • Stucco

Interior Spaces

  • 4,267 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Living Room
  • Carpet
  • Laundry Room

Kitchen

  • Electric Oven
  • Built-In Range
  • Dishwasher
  • Granite Countertops
  • Formica Countertops
  • Disposal

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Parking

  • 20 Parking Spaces
  • 2 Carport Spaces

Accessible Home Design

  • Accessible Parking

Outdoor Features

  • Balcony
  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near public transit
  • Suburban Location

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Hot Water Heating System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, HVAC maintenance, janitorial service
  • Tax Lot 174
  • Tax Tract Number 4511
  • Assessor Parcel Number 6034007016

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • Electric Expense $1,406
  • Insurance Expense $4,554
  • Professional Management Expense $5,134
  • Trash Expense $950
  • Water Sewer Expense $1,800
  • New Taxes Expense $9,250
  • Gross Income $7,355
  • Net Operating Income $52,730

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 5.90
  • Professional Management Expense: 5134.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Water Sewer Expenses: 1800.00
  • Property Type: Residential Income
  • Parcel Number: 6034007016
  • Year Built: 1984
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Built-in Features, Balcony, Formica Counters, Granite Counters
  • Stories: 2
  • Entry Location: Ground Level No Steps
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Accessibility Features: Parking
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 205.30
  • Room Type: Living Room

Exterior Features

  • Foundation: Slab
  • Fencing: Block, Excellent Condition
  • Pool Private: No
  • Construction Materials: Drywall Walls, Stucco

Garage/Parking

  • Carport Spaces: 2.00
  • Total Parking Spaces: 20.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Phone Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Built-In Range, Dishwasher, Electric Oven, Electric Range, Disposal
  • Heating Type: Central, Forced Air, Natural Gas
  • Laundry Features: Community
  • Trash Expense: 950.00
  • Water Source: Public
  • Cooling: Central Air, Electric
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Amenities: Hot Water, Sewer, Trash
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban

Lot Info

  • Land Lease: No
  • Lot Features: 31-35 Units/Acre, Level, Landscaped, Rectangular Lot, Lot 6500-9999, Level with Street, Paved, Near Public Transit
  • Lot Size Sq Ft: 6748.00
  • Price Per Lot Square Foot: 129.82

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, HVAC Maintenance, Janitorial Service

Multi Family

  • Average1 Bed Area: 700
  • Average2 Bed Area: 850
  • Average3 Bed Area: 1000
  • Electric Expense: 1406.00
  • Gross Income: 7355.00
  • Gross Multiplier: 10.10
  • Gross Scheduled Income: 88260.00
  • Insurance Expense: 4554.00
  • Laundry Equipment Own Lease: Own
  • Net Operating Income: 52730.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Number With Carpet: 5
  • Number With Dishwasher: 5
  • Number With Disposal: 5
  • Number With Drapes: 5
  • Number With Patio: 4
  • Number With Range: 5
  • Number With Refrigerator: 3
  • Operating Expense: 32000.00
  • Rent Control: No
  • Total Actual Rent: 6675.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 9250.00
  • Tax Lot: 174
  • Tax Tract Number: 4511

Range of Values:

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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 List to Sale Price per Sq Ft
06/14/2016 06/14/16 Sold $876,000 -2.1% $205 / Sq Ft
05/23/2016 05/23/16 Pending -- -- --
05/17/2016 05/17/16 For Sale $895,000 -- $210 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2016

    Carl Reinhart

    Carl Reinhart, Broker

    (714) 404-8020

    13 Total Sales

    Carl Reinhart
    Section Image
  • Daron Case

    Buyer's Agent in 2016

    Daron Case

    RE/MAX

    (310) 802-2500

    2 Total Sales

    Daron Case
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16104977

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90047 Manchester Square

1613 W 81st St, Los Angeles, CA

This home is located at 1613 W 81st St, Los Angeles, CA 90047 since 17 May 2016. This property was built in 1984. 1613 W 81st St is a home located in Los Angeles County with nearby schools including La Salle Avenue Elementary School, Horace Mann Ucla Community, and George Washington Preparatory 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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