NOT LISTED FOR SALE

240 W Oliver St Los Angeles, CA 90731

5 Beds
5 Baths
2,464 Sq Ft
5,000 Sq Ft Lot

Last Sold September 30, 2020

Last sale price $780,000 $317 Per Sq Ft

22 Days on Market

Highlights

  • Laundry Room
  • Bike Trail
  • 1-Story Property

About This Home

As of September 2020

Excellent Value Add Opportunity with with over 40% upside in rental income - Market GRM is 8.1 and Cap Rate is 9.1%
- Located blocks away from LA Waterfront
- Walking distance to Barton Hill Elementary School
- Desirable Unit Mix of all 1 Bedroom units
- All units are due for annual 4% rent increase
- Each unit comes equipped with laundry hook-ups for tenants' convenience
- Tenants pay are responsible for all except DWP utilities; Low operating costs for Landlord

Last Agent to Sell the Property

Olga Wright

Lyon Stahl Investment Real Estate, Inc. License #01315042 Listed on: 07/01/2020

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763

Last Buyer's Agent

Chandra Livingston

All Of Us Enterprises, Inc. License #01810924

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 5,000 Sq Ft Lot
  • 1 Common Wall

Home Design

  • Property Attached

Interior Spaces

  • 2,464 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Washer Hookup

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 19 / 5
  • Tax Tract Number 2312
  • Assessor Parcel Number 7449004019

Community Details

Overview

  • 3 Buildings
  • 5 Units

Recreation

  • Bike Trail

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $360
  • Insurance Expense $985
  • Maintenance Expense $3,250
  • Other Expense $1,250
  • Water Sewer Expense $3,000
  • New Taxes Expense $10,115
  • Operating Expense $18,960
  • Gross Income $55,836
  • Net Operating Income $35,201

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • CapRate: 4.14
  • Property Attached: Yes
  • Water Sewer Expenses: 3000.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Gardener Expense: 360.00
  • Parcel Number: 7449004019
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 316.56

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Walkstreet
  • Lot Size Sq Ft: 5000.00
  • Lot Size Acres: 0.1148

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 55836.00
  • Gross Multiplier: 15.20
  • Gross Operating Income: 54161.00
  • Gross Scheduled Income: 55836.00
  • Insurance Expense: 985.00
  • Lot Size Area: 5000.0000 Square Feet
  • Maintenance Expense: 3250.00
  • Net Operating Income: 35201.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 18960.00
  • Other Expense: 1250.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Actual Rent: 4653.00
  • Total Expenses: 18960.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 10115.00
  • Tax Block: 5
  • Tax Census Tract: 2962.10
  • Tax Lot: 19
  • Tax Tract Number: 2312

Range of Values:

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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
09/30/2020 09/30/20 Sold $780,000 -8.2% $317 / Sq Ft
07/01/2020 07/01/20 For Sale $850,000 -- $345 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Olga Wright

    Seller's Agent in 2020

    Olga Wright

    Lyon Stahl Investment Real Estate, Inc.

    (310) 425-9838

    26 in this area

    97 Total Sales

    Olga Wright
    Section Image
  • Cameron Samimi

    Seller Co-Listing Agent in 2020

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    11 in this area

    197 Total Sales

    Cameron Samimi
    Section Image

  • C

    Buyer's Agent in 2020

    Chandra Livingston

    All Of Us Enterprises, Inc.

    (310) 988-8999

    2 in this area

    4 Total Sales

    Chandra Livingston
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB20127321

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90731

240 W Oliver St, Los Angeles, CA

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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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