$1,050,000
SOLD NOV 7, 2024

2022 E 2nd St Los Angeles, CA 90033

16 Beds
16 Baths
7,000 Sq Ft
7,425 Sq Ft Lot

Recently Sold

$150 Per Sq Ft

34% Below List Price

95 Days on Market

Highlights

  • Property is near public transit
  • French Architecture
  • Cooling System Mounted To A Wall/Window
  • Felicitas and Gonzalo Mendez High Rated A-
  • No HOA
  • Laundry Room

About This Home

As of November 2024

A touch of French architecture in great Boyle Heights location with close proximity to bus line on 4th and Cummings and two light rail locations - Mariachi Plaza and Soto Street. Nearby to Hollenbeck Park which hosts a number of sports and fitness programs, cultural programs, barbecue pits, picnic spots, public bathrooms, and a skate park. Property has alley access to rear parking and is fully gated. There is parking easily for 8 cars on the property (four open spaces and four covered spaces) and more if small cars doubled up. Lots of room for bicycles and motorcycles. Easy access to 10/60/5/110, and 101 Freeways. Each unit is 2 bedroom and 2 bathrooms. Separate gas and electric metering paid by tenants. There is a common laundry room on ground floor. Property is relatively newer for Los Angeles and is clean and well maintained. All units occupied. Below market rents represents large upside potential for a new owner. Property is close to White Memorial Hospital, Little Tokyo, The Arts District, USC Health Campus, DTLA, and many more things the great City of Los Angeles has to offer. Manager resides in the $600/mo unit explaining why that rent is low. Each unit has two bath rooms - one full bath and one half bath. Property has had soft story retrofit completed and signed off by the city. Please don't hesitate to call and ask questions.

Last Agent to Sell the Property

Andrew Loeffler

Re/Max Premier Prop SanMarino Brokerage Phone: 951-741-0002 License #01193598 Listed on: 07/08/2024

Re/Max Premier Prop SanMarino

Co-Listed By

Peter Loeffler

RE/MAX PREMIER/SANMARINO Brokerage Phone: 951-741-0002 License #00913919

Last Buyer's Agent

Andrew Loeffler

Re/Max Premier Prop SanMarino Brokerage Phone: 951-741-0002 License #01193598 Listed on: 07/08/2024

Re/Max Premier Prop SanMarino

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 7,425 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Fence is in good condition
  • Level Lot

Home Design

  • French Architecture
  • Apartment

Interior Spaces

  • 7,000 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 8 Parking Spaces
  • 4 Carport Spaces
  • Parking Available

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Septic Type Unknown

Additional Features

  • Rain Gutters
  • Property is near public transit

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 4,6 / D
  • Assessor Parcel Number 5183011024
  • $1,267 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,140
  • Fuel Expense $2,094
  • Insurance Expense $9,000
  • Maintenance Expense $1,000
  • Water Sewer Expense $4,320
  • New Taxes Expense $14,938
  • Operating Expense $32,492
  • Gross Income $91,558
  • Net Operating Income $59,066

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Listing Details

  • CapRate: 4.12
  • Price Per Unit: 149375
  • Property Attached: Yes
  • Road Surface Type: Alley Paved
  • View: No
  • Water Sewer Expenses: 4320.00
  • Zoning: LARD2
  • Architectural Style: French
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5183011024
  • Year Built: 1968
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: Side
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 150.00

Exterior Features

  • Fence: Yes
  • Fencing: Good Condition, Wrought Iron
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Carport
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Individual Room
  • Sewer: Unknown
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Lot 6500-9999, Level, Near Public Transit
  • Lot Size Sq Ft: 7425.00
  • Lot Size Acres: 0.1705

Rental Info

  • Tenant Pays: Electricity, Gas, Other

Multi Family

  • Average2 Bed Area: 850 Square Feet
  • Electric Expense: 1140.00
  • Fuel Expense: 2094.00
  • Gross Income: 91558.00
  • Gross Multiplier: 15.23
  • Gross Operating Income: 91548.00
  • Gross Scheduled Income: 91558.00
  • Insurance Expense: 9000.00
  • Lot Size Area: 7425.0000 Square Feet
  • Maintenance Expense: 1000.00
  • Net Operating Income: 59066.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 32492.00
  • Rent Control: Yes
  • Total Actual Rent: 91558.00
  • Total Expenses: 32492.00

Tax Info

  • New Taxes Expense: 14938.00
  • Tax Block: D
  • Tax Census Tract: 2044.10
  • Tax Lot: 4,6
  • TaxOtherAnnualAssessmentAmount: 1267.00

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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 Change Sq Ft Price
11/07/2024 11/07/24 Sold $1,050,000 -12.1% $150 / Sq Ft
10/07/2024 10/07/24 Price Changed $1,195,000 -7.7% $171 / Sq Ft
09/09/2024 09/09/24 Price Changed $1,295,000 -7.2% $185 / Sq Ft
08/13/2024 08/13/24 Price Changed $1,395,000 -6.7% $199 / Sq Ft
07/24/2024 07/24/24 Price Changed $1,495,000 -6.3% $214 / Sq Ft
07/08/2024 07/08/24 For Sale $1,595,000 -- $228 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR24135453

California Regional Multiple Listing Service (CRMLS)