NOT LISTED FOR SALE

211 E 55th St Los Angeles, CA 90011

South Park Neighborhood
9 Beds
9 Baths
4,660 Sq Ft
4,886 Sq Ft Lot

Last Sold March 29, 2024

Last sale price $950,000 $204 Per Sq Ft

22 Days on Market

About This Home

As of March 2024

211 E 55th Street is 9 units in South LA, and just a quick drive to all of the developments and community attractions at Exposition Park, USC and DTLA. Unit mix is (3) 2+1's, (4) 1+1's and (2) Singles. Large value add offering at only $132k per door, 11.87 GRM on current rents, and $256 per RSF. Substantial rental upside at 105%, conservatively, with a 5.82 GRM and 12.61% cap rate at stabilized rents. All units are separately metered for gas & electricity. Great opportunity for a long-term hold Buyer to capture upside and reposition the asset while getting in at a great pricing basis. Tenants enjoy easy access and mobility around LA by being blocks from the 110 Freeway entrance/exits. **This property is part of a 3-building portfolio with 1861 W MLK Jr Blvd (12 Units) and 709 E 49th Street (2 Units). All 3 can be bought together or separate.**

Last Agent to Sell the Property

Jonathan Rawson

Avenue Realty Group License #02010400 Listed on: 08/29/2023

Last Buyer's Agent

Jonathan Rawson

Avenue Realty Group License #02010400 Listed on: 08/29/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1912

Lot Details

  • 4,886 Sq Ft Lot
  • Lot Dimensions are 40x122

Interior Spaces

  • 4,660 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 9 Bathrooms

Utilities

  • Heating System Mounted To A Wall or Window

Community Details

  • 9 Units

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for water, gardener
  • Assessor Parcel Number 5101-013-021

Property Details

Home Type

Multi-Family

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 4660
  • Lot Acreage: 0.1122
  • Lot Dimensions: 40x122
  • Price Per Unit: 132778.00
  • Probate: No
  • Stories: 2
  • Year Built: 1912
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 9.00
  • Equipment: Ceiling Fan
  • Price Per S Q F T: 256.44

Exterior Features

  • Other Structures: None

Utilities

  • Cooling: Ceiling Fan
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 56.63
  • Assessed Improvement Value: 378518
  • Assessed Land Percent: 43.37
  • Assessed Land Value: 289864
  • Total Assessed Value: 668382
  • Assessor Parcel Number: 5101-013-021
  • Lot Size Area: 4886

Rental Info

  • Owner Pays: Water, Gardener
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 11.87
  • Number Of Units: 9
  • Type Of Units: Apartments
  • Vacancy Allow Percent: 3.00

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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/29/2024 03/29/24 Sold $950,000 -20.5% $204 / Sq Ft
09/20/2023 09/20/23 Pending -- -- --
08/29/2023 08/29/23 For Sale $1,195,000 +107.5% $256 / Sq Ft
08/05/2012 08/05/12 Sold $576,000 -2.0% $124 / Sq Ft View Prior Sale
07/02/2012 07/02/12 Pending -- -- --
06/20/2012 06/20/12 For Sale $588,000 -- $126 / Sq Ft
Source: The MLS

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 $9,348 $969,000 $744,600 $224,400
2024 $9,348 $695,383 $301,574 $393,809
2023 $9,182 $681,749 $295,661 $386,088
2022 $8,786 $668,382 $289,864 $378,518
2021 $8,662 $655,278 $284,181 $371,097
2020 $8,738 $648,560 $281,268 $367,292
2019 $8,422 $635,844 $275,753 $360,091
2018 $8,313 $623,378 $270,347 $353,031
2016 $7,879 $599,173 $259,850 $339,323
2015 $7,773 $590,174 $255,947 $334,227
2014 $7,840 $578,614 $250,934 $327,680
Source: Public Records

Agents Affiliated with this Home

  • Jonathan Rawson

    Seller's Agent in 2024

    Jonathan Rawson

    Avenue Realty Group

    (424) 293-1391

    2 in this area

    19 Total Sales

    Jonathan Rawson
    Section Image
  • Doug Rodermund

    Seller's Agent in 2012

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    34 Total Sales

    Doug Rodermund
    Section Image

  • D

    Buyer's Agent in 2012

    D. Danielle Hoston Wrighster

    D Danielle Hoston Wrighster

See All Agents

Map

Source: The MLS

MLS Number: 23-305631

The MLS
California Los Angeles County Los Angeles 90011 South Park

211 E 55th St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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