Seller's Agent in 2023
Jason Tuvia
Marcus & Millichap
(818) 212-2700
4 in this area
111 Total Sales
2915 Maple Ave Los Angeles, CA 90011
Historic South Central Neighborhood
10
Beds
10
Baths
7,316
Sq Ft
0.29
Acres
Highlights
- City View
- Built-In Features
- Landscaped
- Balcony
- Air Conditioning
About This Home
As of November 2023We are pleased to present a ten (10) unit multifamily redevelopment opportunity located in Los Angeles, California. The subject properties are in a solid South Los Angeles location, east of USC and south of E Adams Boulevard. Built in 1911 and 1913 respectively, this property is a double-lot multifamily property consisting of ten (10) one-bedroom / one-bathroom units total; six (6) standard sized units in the corner lot and four (4) larger units in the adjacent lot. The back of the property features fully parked on-site parking. The property is a very ideal value-add opportunity, priced at 5.48 pro forma GRM and 13.86% pro forma cap rate. This double-lot is situated on a hard signalized corner and is zoned LAR3-1 with 12,550 SF of combined land. This allows for the development of fifteen (15) units by-right, or twenty-four (24) units utilizing tier 1 TOC benefits. The zoning allows for 45' max height and an FAR of 3:1. With TOC, a developer can be granted incentives to build 56' max height and a 4.2:1 FAR. Tenants will enjoy living in close proximity to the University of Southern California (USC) along with its collegiate amenities. The strength of this area is demonstrated by CityView, a development firm that just completed their latest mixed-use complex featuring 296-units with ground floor retail just a few blocks from the subject property on the corner of Adams Boulevard and Grand Avenue. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on either capturing rental upside or developing up to twenty-four (24) units in a strong rental market adjacent to USC at an attractive basis.
Last Agent to Sell the Property
Marcus & Millichap License #01772495 Listed on: 09/11/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1911
Lot Details
- 12,550 Sq Ft Lot
- Landscaped
Interior Spaces
- 7,316 Sq Ft Home
- 2-Story Property
- Built-In Features
- City Views
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Utilities
- Air Conditioning
- Heating System Mounted To A Wall or Window
Additional Features
- Balcony
- City Lot
Listing and Financial Details
- Assessor Parcel Number 5128-004-023
Community Details
Overview
- 5 Buildings
- 10 Units
Building Details
- Vacancy Allowance $3,230
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/29/2023 11/29/23 | Sold | $1,230,000 | -1.6% | $168 / Sq Ft |
| 11/16/2023 11/16/23 | Pending | -- | -- | -- |
| 11/13/2023 11/13/23 | Price Changed | $1,250,000 | 0.0% | $171 / Sq Ft |
| 11/13/2023 11/13/23 | For Sale | $1,250,000 | -10.7% | $171 / Sq Ft |
| 10/26/2023 10/26/23 | Pending | -- | -- | -- |
| 10/23/2023 10/23/23 | Price Changed | $1,399,000 | -9.7% | $191 / Sq Ft |
| 10/10/2023 10/10/23 | Price Changed | $1,549,000 | -6.1% | $212 / Sq Ft |
| 10/02/2023 10/02/23 | Price Changed | $1,649,000 | -3.0% | $225 / Sq Ft |
| 09/11/2023 09/11/23 | For Sale | $1,700,000 | -- | $232 / Sq Ft |
Source: The MLS
Tax History Compared to Growth
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 | $8,124 | $632,400 | $408,000 | $224,400 |
| 2024 | $8,124 | $620,000 | $400,000 | $220,000 |
| 2023 | $9,693 | $750,963 | $455,130 | $295,833 |
| 2022 | $9,259 | $736,239 | $446,206 | $290,033 |
| 2021 | $9,135 | $721,804 | $437,457 | $284,347 |
| 2020 | $9,221 | $714,404 | $432,972 | $281,432 |
| 2019 | $1,106 | $39,058 | $19,529 | $19,529 |
| 2018 | $1,011 | $38,294 | $19,147 | $19,147 |
| 2016 | $936 | $36,808 | $18,404 | $18,404 |
| 2015 | $929 | $36,256 | $18,128 | $18,128 |
| 2014 | $975 | $35,546 | $17,773 | $17,773 |
Source: Public Records
Agents Affiliated with this Home
-
Jason Tuvia
Map
Source: The MLS
MLS Number: 23-309901
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