501 W 88th St Los Angeles, CA 90044
Vermont Vista NeighborhoodEstimated payment $4,519/month
About This Home
501 W 88th St is a 4-unit property located in South Los Angeles. Situated on a large 3,232 SF lot, this property offers a total of 2,208 SF of living space, featuring a mix of (2) 2-bed/1-bath units and (2) 1-bed/1-bath units. It boasts strong income potential with a 5.04% current CAP rate and incredible upside, offering a 48% rental upside, a 9.45% market CAP rate, and an 7.10 market GRM. Conveniently located right off Manchester Ave with easy access to the 110 Freeway, this property is positioned in a desirable South LA location with strong rental demand.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3107801899 License #01717818
Co-Listing Agent
Lyon Stahl Investment Real Est Brokerage Phone: 3107801899 License #01399621
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,843
Year Built
- Built in 1965
Lot Details
- 3,232 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 2,208 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Listing and Financial Details
- Tax Lot 3
- Tax Tract Number 1
- Assessor Parcel Number 6038009028
- $431 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- 4 Units
Recreation
- Bike Trail
Building Details
- 4 Leased Units
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $4,171
- Maintenance Expense $8,850
- Other Expense $7,149
- Pest Control $300
- New Taxes Expense $9,852
- Operating Expense $31,522
- Gross Income $71,485
- Net Operating Income $37,819
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2024 | $3,843 | $284,723 | $227,783 | $56,940 |
| 2023 | $3,779 | $279,141 | $223,317 | $55,824 |
| 2022 | $3,619 | $273,669 | $218,939 | $54,730 |
| 2021 | $3,562 | $268,304 | $214,647 | $53,657 |
| 2019 | $3,464 | $260,348 | $208,282 | $52,066 |
| 2018 | $3,405 | $255,245 | $204,199 | $51,046 |
| 2016 | $3,243 | $245,336 | $196,271 | $49,065 |
| 2015 | $3,200 | $241,651 | $193,323 | $48,328 |
| 2014 | $3,237 | $236,919 | $189,537 | $47,382 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/27/2025 02/27/25 | Pending | -- | -- | -- |
| 02/10/2025 02/10/25 | For Sale | $750,000 | -- | $340 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $225,000 | Advantage Title Inc | |
| Trustee Deed | $501,500 | Landsafe Title | |
| Grant Deed | $649,000 | Fidelity Long Beach | |
| Grant Deed | -- | Southland Title Company | |
| Grant Deed | $250,000 | -- | |
| Grant Deed | $155,000 | Lawyers Title | |
| Grant Deed | $47,500 | Southland Title Corporation | |
| Trustee Deed | $41,520 | Southland Title Corporation |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $129,800 | Stand Alone Second | |
| Previous Owner | $519,200 | Purchase Money Mortgage | |
| Previous Owner | $424,000 | Unknown | |
| Previous Owner | $117,915 | Seller Take Back | |
| Previous Owner | $230,000 | Seller Take Back | |
| Previous Owner | $70,000 | Unknown | |
| Previous Owner | $35,000 | Unknown | |
| Previous Owner | $43,500 | No Value Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25010518
APN: 6038-009-028
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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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