NOT LISTED FOR SALE

2018 E 3rd St Los Angeles, CA 90033

Boyle Heights Neighborhood

Estimated Value: $1,550,767 - $1,773,000

3 Beds
2 Baths
5,574 Sq Ft
$298/Sq Ft Est. Value

Last Sold September 09, 2022

Last sale price $1,400,000 $251 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $10,225/month

133 Days on Market

Highlights

  • Park
  • Laundry Room
  • 5-minute walk to Hollenbeck Park

About This Home

As of September 2022

Investment Highlights
• Prime 7-unit Value-Add opportunity located in Boyle Heights near retail corridors on East Cesar E. Chavez Avenue and Soto Street in very close proximity to the 5, 10, 60, and 101 Freeways.
• Strong scheduled CAP Rate of Approx. 5% with significant rental upside. (Call for Details)
• Located in a culturally vibrant pocket of Boyle Heights just minutes from the Arts District near new apartment developments within 90033.
• No units have been extensively upgraded. (Value-Add potential to be realized through renovations).

Property Highlights
• Desirable unit mix of 5 1B/1B units and 2 2B/1B units.
• All units have an in-unit laundry hookup.
• No units have been extensively upgraded. (Value-Add potential to be realized through renovations).
• Separately metered for gas and electricity.
• Potential to add one gated surface parking space. (Buyer to Verify)

Last Agent to Sell the Property

Evan Monroe

Growth Investment Group Pasade License #02135116 Listed on: 02/18/2022

Last Buyer's Agent

Evan Monroe

Growth Investment Group Pasade License #02135116 Listed on: 02/18/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1904

Lot Details

  • 6,303 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 5,574 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Laundry Room
  • Urban Location
  • Septic Type Unknown

Listing and Financial Details

  • Assessor Parcel Number 5183012023

Community Details

Overview

  • 2 Buildings
  • 7 Units

Recreation

  • Park

Building Details

  • Rent Control
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $105,696
  • Net Operating Income $72,176

Property Details

Home Type

Multi-Family

Year Built

Built in 1904

Lot Details

0

Listing Details

  • CapRate: 4.99
  • Property Attached: Yes
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 5183012023
  • Year Built: 1904
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 251.17

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Sewer: Unknown
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Park, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6303.00
  • Lot Size Acres: 0.1447
  • Latitude Manual: 34.04326200

Multi Family

  • Gross Income: 105696.00
  • Gross Scheduled Income: 105696.00
  • Lot Size Area: 6303.0000 Square Feet
  • Net Operating Income: 72176.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 31877.00
  • Rent Control: Yes

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 15, 2021
Sold by
Garcia Luis J and Garcia Kristin J
Bought by
Garcia Family Trust
Current Estimated Value
$1,661,884

Purchase Details

Closed on
Dec 3, 2019
Sold by
Garcia Rojas Patricia and Justo And Juana Garcia Trust
Bought by
Garcia Rojas Patricia and Justo And Juana Garcia Trust T

Purchase Details

Closed on
Dec 12, 2001
Sold by
Garcia Elia P and Garcia Justo
Bought by
Garcia Elia Perez and Elia Perez Garcia Living Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
Garcia Family Trust -- Stephen K Hall & Associates
Garcia Luis -- Stephen K Hall & Associates
Garcia Rojas Patricia -- None Available
Garcia Rojas Patricia -- None Available
Garcia Elia Perez -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/09/2022 09/09/22 Sold $1,400,000 -3.4% $251 / Sq Ft
07/01/2022 07/01/22 Pending -- -- --
06/14/2022 06/14/22 Price Changed $1,450,000 -8.2% $260 / Sq Ft
02/18/2022 02/18/22 For Sale $1,580,000 -- $283 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

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 $18,206 $1,456,560 $832,320 $624,240
2024 $18,206 $1,428,000 $816,000 $612,000
2023 $17,866 $1,400,000 $800,000 $600,000
2022 $1,841 $66,708 $26,080 $40,628
2021 $1,790 $65,401 $25,569 $39,832
2020 $1,803 $64,731 $25,307 $39,424
2019 $1,771 $63,462 $24,811 $38,651
2018 $1,684 $62,219 $24,325 $37,894
2016 $1,519 $59,805 $23,382 $36,423
2015 $1,509 $58,907 $23,031 $35,876
2014 $1,562 $57,754 $22,580 $35,174
Source: Public Records

Agents Affiliated with this Home

  • Evan Monroe

    Seller's Agent in 2022

    Evan Monroe

    Growth Investment Group Pasade

    (626) 594-4901

    1 in this area

    4 Total Sales

    Evan Monroe
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR22032824

California Regional Multiple Listing Service (CRMLS)

APN: 5183-012-023

California Los Angeles County Los Angeles 90033 Boyle Heights

2018 E 3rd St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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