NOT LISTED FOR SALE

2440 Wabash Ave Los Angeles, CA 90033

9 Beds
6 Baths
3,116 Sq Ft
8,066 Sq Ft Lot

Last Sold August 31, 2021

Last sale price $825,000 $265 Per Sq Ft

72 Days on Market

Highlights

  • No Units Above
  • Neighborhood Views
  • 1-Story Property
  • Felicitas and Gonzalo Mendez High Rated A-
  • Wrought Iron Fence

About This Home

As of August 2021

Attention Investors: 5-unit apartment building in Boyle Heights. Near USC Medical Campus and the new USC hotel. The property is situated on top of a hill so terrific spot for future development to take advantage of great views. Easy to manage property: 2- stand alone houses (3 BD/2 BA & 2/1 BA) with 3 other units on property. Front house built in 1938, Back House built in the 60's (per previous owner). Easy to maintain with low maintenance. Work done in recent years include 2 water heaters replaced (good quality); sewer repaired in 2 key areas; water main repaired. Tenants pay for electricity, gas and trash. Owner Pays for water and sewage.

Last Agent to Sell the Property

Nicholas Layana

Family Discount Realty License #01048041 Listed on: 04/20/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 8,066 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Wrought Iron Fence
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment

Interior Spaces

  • 3,116 Sq Ft Home
  • 1-Story Property
  • Neighborhood Views

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Home Security

  • Window Bars
  • Fire and Smoke Detector

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Parking Available
  • Tandem Uncovered Parking

Location

  • Urban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 4 / 1
  • Assessor Parcel Number 5177015003

Community Details

Overview

  • 3 Buildings
  • 5 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • Operating Expense $7,200
  • Gross Income $70,788
  • Net Operating Income $63,588

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • CapRate: 7.30
  • Price Per Unit: 175000
  • Property Attached: Yes
  • Security: Smoke Detector(s), Window Bars
  • View: Yes
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5177015003
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Levels: One
  • Price Per Square Foot: 264.76

Exterior Features

  • View: Neighborhood
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Tandem Uncovered
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 6.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 8066.00
  • Lot Size Acres: 0.1852

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 465 Square Feet
  • Average2 Bed Area: 860 Square Feet
  • Average3 Bed Area: 1020 Square Feet
  • Gross Income: 70788.00
  • Gross Operating Income: 70788.00
  • Gross Scheduled Income: 70788.00
  • Lot Size Area: 8066.0000 Square Feet
  • Net Operating Income: 63588.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 7200.00
  • Rent Control: Yes
  • Total Actual Rent: 5899.00
  • Total Expenses: 7200.00

Tax Info

  • Tax Block: 1
  • Tax Census Tract: 2037.10
  • Tax Lot: 4

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
08/31/2021 08/31/21 Sold $825,000 0.0% $265 / Sq Ft
07/01/2021 07/01/21 Off Market $825,000 -- --
07/01/2021 07/01/21 Pending -- -- --
05/27/2021 05/27/21 For Sale $895,000 +8.5% $287 / Sq Ft
04/29/2021 04/29/21 Off Market $825,000 -- --
04/20/2021 04/20/21 For Sale $875,000 +60.6% $281 / Sq Ft
09/04/2013 09/04/13 Sold $545,000 -0.9% $198 / Sq Ft
08/29/2013 08/29/13 Pending -- -- --
04/30/2013 04/30/13 For Sale $550,000 -- $200 / 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: PW21083119

California Regional Multiple Listing Service (CRMLS)