$1,655,000
SOLD OCT 30, 2020
12 Beds
10 Baths
6,986 Sq Ft
7,501 Sq Ft Lot

Recently Sold

$237 Per Sq Ft

9% Above List Price

11 Days on Market

About This Home

As of October 2020

We are pleased to offer for sale this 9 unit multi-family investment located in the heart of Lincoln Heights (Los Angeles). Built in 1975, the subject property is comprised of 1(4Bed/2Bath) unit, and 8(1Bed/1Bath) units. All units are separately metered for electricity and gas, while the owner pays for water and trash. Tenants enjoy onsite covered parking as well as an onsite laundry facility. Additionally all earthquake retrofit requirements have been completed by the seller. Long term tenants are in place and below market rents, but for those looking for a repositioning opportunity, this asset offers close to a 70% upside in rental income. The property is 100% tenant occupied all of whom are current on rental payments through COVID. The seller has not attempted any "buy outs" of the current residents.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 10/05/2020

RE/MAX 2000 REALTY

Last Buyer's Agent

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 10/05/2020

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1975

Lot Details

  • 7,501 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 6,986 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 10 Bathrooms

Parking

  • 1 Open Parking Space
  • 12 Parking Spaces
  • 11 Carport Spaces
  • Parking Available

Additional Features

  • Laundry Room
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 014
  • Tax Tract Number 12
  • Assessor Parcel Number 5211012014

Community Details

Building Details

  • 9 Leased Units
  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,076
  • Fuel Expense $2,450
  • Insurance Expense $2,794
  • Maintenance Expense $6,750
  • Other Expense $1,350
  • Trash Expense $1,737
  • Water Sewer Expense $7,532
  • New Taxes Expense $17,866
  • Operating Expense $41,555
  • Gross Income $107,364
  • Net Operating Income $62,588

Additional Features

  • 9 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 7532.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Parcel Number: 5211012014
  • Year Built: 1975
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 236.90

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 11.00
  • Parking: Yes
  • Parking Features: Covered
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 1.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community, Inside
  • Sewer: Public Sewer
  • Trash Expense: 1737.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Lot 6500-9999
  • Lot Size Sq Ft: 7501.00
  • Lot Size Acres: 0.1722

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 1076.00
  • Fuel Expense: 2450.00
  • Gross Income: 107364.00
  • Gross Operating Income: 104143.00
  • Gross Scheduled Income: 107364.00
  • Insurance Expense: 2794.00
  • Laundry Income: 600.00
  • Lot Size Area: 7501.0000 Square Feet
  • Maintenance Expense: 6750.00
  • Net Operating Income: 62588.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Operating Expense: 41555.00
  • Other Expense: 1350.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Actual Rent: 8897.00
  • Total Expenses: 41555.00
  • Vacancy Allowance: 3221

Tax Info

  • New Taxes Expense: 17866.00
  • Tax Census Tract: 1991.20
  • Tax Lot: 014
  • Tax Tract Number: 012

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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
07/09/2025 07/09/25 Pending -- -- --
06/02/2025 06/02/25 For Sale $1,450,000 -12.4% $208 / Sq Ft
10/30/2020 10/30/20 Sold $1,655,000 0.0% $237 / Sq Ft
10/16/2020 10/16/20 Pending -- -- --
10/16/2020 10/16/20 Off Market $1,655,000 -- --
10/05/2020 10/05/20 For Sale $1,525,000 -- $218 / 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: CV20208808

California Regional Multiple Listing Service (CRMLS)