NOT LISTED FOR SALE

2614 Michigan Ave Los Angeles, CA 90033

5 Beds
4 Baths
9,165 Sq Ft
0.25 Acres

Last Sold September 23, 2020

Last sale price $2,600,000 $284 Per Sq Ft

41 Days on Market

Highlights

  • 0.25 Acre Lot
  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Felicitas and Gonzalo Mendez High Rated A-
  • Laundry Room

About This Home

As of September 2020

Well Maintained 13 Units Investment Property In The Heart Of Boyle Heights Near Downtown LA, 2 Parcels of 6U (2610) & 7U (2614), 1=2+1.5, 4=2+1, 8=1+1, Earthquake Retrofit Construction Completed in 2018, 8 Car Attached Garage with Remote Control plus 2 Carport Space, Highly Desirable Rental Area, Easy Access to Major Freeway.

Last Agent to Sell the Property

Brian Kim

Nexteam Real Estate License #00850540 Listed on: 07/09/2020

Nexteam Real Estate

Last Buyer's Agent

Brian Kim

Nexteam Real Estate License #00850540 Listed on: 07/09/2020

Nexteam Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 0.25 Acre Lot
  • Two or More Common Walls

Parking

  • 8 Car Garage
  • 2 Carport Spaces
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Property Attached

Interior Spaces

  • 9,165 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 14 / C
  • Tax Tract Number 42
  • Assessor Parcel Number 5180010034

Community Details

Overview

  • 2 Buildings
  • 13 Units

Amenities

  • Laundry Facilities

Building Details

  • 13 Leased Units
  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Fuel Expense $1,000
  • Gardener Expense $600
  • Insurance Expense $5,000
  • Maintenance Expense $2,000
  • Other Expense $1,000
  • Pest Control $500
  • Professional Management Expense $7,700
  • Trash Expense $2,950
  • Water Sewer Expense $7,400
  • New Taxes Expense $30,000
  • Operating Expense $59,350
  • Gross Income $188,678
  • Net Operating Income $129,328

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Parking

8

Listing Details

  • CapRate: 4.80
  • Other Phone Description: Agent
  • Other Phone Number: 714-523-8989
  • Professional Management Expense: 7700.00
  • Property Attached: Yes
  • Water Sewer Expenses: 7400.00
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 5180010034
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 283.69

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 2.00
  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Carport, Garage Faces Rear
  • Total Parking Spaces: 10.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 2950.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 10923.00
  • Lot Size Acres: 0.2508

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 1200.00
  • Fuel Expense: 1000.00
  • Garage Income: 6300.00
  • Gross Income: 188678.00
  • Gross Multiplier: 14.30
  • Gross Scheduled Income: 188678.00
  • Insurance Expense: 5000.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 2400.00
  • Lot Size Area: 10923.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 129328.00
  • Number Of Rented Garages: 7
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 13
  • Number Of Units Total: 13
  • Operating Expense: 59350.00
  • Other Expense: 1000.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Actual Rent: 14998.00
  • Total Expenses: 59350.00

Tax Info

  • New Taxes Expense: 30000.00
  • Tax Block: C
  • Tax Census Tract: 2042.00
  • Tax Lot: 14
  • Tax Tract Number: 42.00

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
09/23/2020 09/23/20 Sold $2,600,000 -3.7% $284 / Sq Ft
08/19/2020 08/19/20 Pending -- -- --
07/09/2020 07/09/20 For Sale $2,700,000 -- $295 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brian Kim

    Seller's Agent in 2020

    Brian Kim

    Nexteam Real Estate

    (714) 367-1300

    1 in this area

    32 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20133431

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Los Angeles 90033

2614 Michigan Ave, Los Angeles, CA

This home is located at 2614 Michigan Ave, Los Angeles, CA 90033 since 09 July 2020. This property was built in 1961. 2614 Michigan Ave is a home located in Los Angeles County with nearby schools including First Street Elementary School, Hollenbeck Middle School, and Theodore Roosevelt High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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