NOT LISTED FOR SALE

3401 Gleason Ave Los Angeles, CA 90063

Boyle Heights Neighborhood
18 Beds
8 Baths
6,310 Sq Ft
7,405 Sq Ft Lot

Last Sold September 10, 2012

Last sale price $805,000 $128 Per Sq Ft

Highlights

  • Traditional Architecture
  • Wood Flooring
  • Cooling Available
  • Felicitas and Gonzalo Mendez High Rated A-
  • Lawn
  • Laundry Room

About This Home

As of September 2012

Investment opportunity!! Well maintained 8-unit apartment building in East los Angeles. Great location in a strong rental market. Records show 3401 Gleason Ave as the main address and 122 S Lorena St. Corner lot, Structure is 6,310 sq. ft. and Lot Size 7,429 sq ft (Buyers to verify). Rent control. The 8-unit apartment is a single two-story building consisting of 1- one bed/one-bath, 4 - two beds/one bath, and 3 - three beds/one bath. The building is separately metered for electrical and gas and each unit has its own water heater. The property has 7 open parking spaces with an adjacent laundry room with working washers and dryers. Unit #7 (2 BR/1BA) is currently vacant. Property is located in rent control area. Tenants benefit from asset's central location which is in close proximity to the El Mercado de Los Angeles, Metro Rail, bus stops, jogging paths, etc. Take advantage of the historically low interest rates and benefit from positive financial leverage.

Last Agent to Sell the Property

Julio Pilco

Buena Vista Real Estate Group License #01224000 Listed on: 07/20/2012

Last Buyer's Agent

Jangwon Lee

Jangwon Lee, Broker License #01871352

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 7,405 Sq Ft Lot
  • Fenced
  • Lawn

Home Design

  • Traditional Architecture
  • Frame Construction
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 6,310 Sq Ft Home
  • Wood Flooring
  • Dishwasher
  • Laundry Room

Parking

  • 14 Parking Spaces
  • Parking Available

Utilities

  • Cooling Available
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 17
  • Assessor Parcel Number 5179017013

Community Details

Overview

  • 8 Units

Building Details

  • 8 Leased Units
  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Gardener Expense $500
  • Insurance Expense $1,800
  • Professional Management Expense $3,600
  • Trash Expense $660
  • Water Sewer Expense $6,150
  • New Taxes Expense $12,438
  • Gross Income $6,624
  • Net Operating Income $53,849

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 6.80
  • Improvements Amount: 301545
  • Other Phone Description: 818 359 0694
  • Price Per Unit: 99375
  • Professional Management Expense: 3600.00
  • View: No
  • Water Sewer Expenses: 6150.00
  • Zoning: LAR2
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 500.00
  • Parcel Number: 5179017013
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Unfurnished
  • Flooring: Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 127.58

Exterior Features

  • Fence: Yes
  • Pool Private: No
  • Roof: Asphalt
  • Spa: No
  • Construction Materials: Frame, Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: On Site
  • Total Parking Spaces: 14.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher
  • Heating Type: Wall Furnace
  • Trash Expense: 660.00
  • Cooling: Yes

Lot Info

  • Land Value: 93252
  • Lot Features: Lawn
  • Lot Size: 7449
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Multi Family

  • Gross Income: 6624.00
  • Gross Multiplier: 10.00
  • Gross Scheduled Income: 79487.00
  • Insurance Expense: 1800.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 0.1700 Acres
  • Net Operating Income: 53849.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 25864.00
  • Operating Expense Percent: 28.00
  • Rent Control: Yes
  • Total Actual Rent: 7724.00
  • Vacancy Allowance: 3974
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 12438.00
  • Tax Area: 0000004
  • Tax Lot: 17
  • Tax Year: 2011

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 List to Sale Price per Sq Ft
09/10/2012 09/10/12 Sold $805,000 -- $128 / Sq Ft
07/20/2012 07/20/12 Pending -- -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Julio Pilco

    Seller's Agent in 2012

    Julio Pilco

    Buena Vista Real Estate Group

    (818) 556-5595

    2 Total Sales

    Julio Pilco
    Section Image

  • J

    Buyer's Agent in 2012

    Jangwon Lee

    Jangwon Lee, Broker

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: F12078269

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90063 Boyle Heights

3401 Gleason Ave, Los Angeles, CA

This home is located at 3401 Gleason Ave, Los Angeles, CA 90063 since 20 July 2012. This property was built in 1965. 3401 Gleason Ave is a home located in Los Angeles County with nearby schools including Belvedere Elementary School, Robert Louis Stevenson 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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