NOT LISTED FOR SALE
3 Beds
3 Baths
14,200 Sq Ft
0.33 Acres

Last Sold June 02, 2022

Last sale price $8,350,000 $588 Per Sq Ft

27 Days on Market

Highlights

  • 0.33 Acre Lot
  • Laundry Room
  • Dog Park

About This Home

As of June 2022

We are proud to present this well maintained 18 Unit building in the heart of NoHo Arts District. Built in 2002, the property is not subject to Los Angeles' Rent Stabilization Ordinance and consists of a great unit mix featuring Fourteen: 2 Bed/2 Bath units and Four: 1 Bed/1 Bath units. Unlike most properties, Tenants are responsible for their water bill resulting in a low utility cost for the Owner. The property also features two resident lounges, a dog park, elevator, and a large laundry room with seller owned machines. The building is centrally located near dozens of restaurants, cafes, entertainment and walking distance to the NoHo Metro Red Line Station.

Last Agent to Sell the Property

David Nalbandyan

LA Premier Realty License #01869296 Listed on: 02/15/2022

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2002

Lot Details

  • 0.33 Acre Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 35 Car Garage

Home Design

  • 14,200 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Tax Lot 5
  • Tax Tract Number 1316
  • Assessor Parcel Number 2350003058
  • $1,944 per year additional tax assessments

Community Details

Recreation

  • Dog Park

Building Details

  • 18 Leased Units
  • 18 Separate Electric Meters
  • 18 Separate Gas Meters
  • 18 Separate Water Meters
  • Electric Expense $5,920
  • Fuel Expense $756
  • Gardener Expense $1,200
  • Insurance Expense $8,000
  • Maintenance Expense $7,976
  • Professional Management Expense $8,400
  • Trash Expense $6,336
  • New Taxes Expense $96,000
  • Operating Expense $134,588
  • Gross Income $501,840
  • Net Operating Income $357,396

Additional Features

  • 18 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 2002

Lot Details

0

Parking

35

Listing Details

  • CapRate: 4.50
  • Other Phone Number: 8184246437
  • Price Per Unit: 444444
  • Professional Management Expense: 8400.00
  • Property Attached: No
  • Zoning: LAR4
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 2350003058
  • Year Built: 2002
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 588.03

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 35.00
  • Total Parking Spaces: 35.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 6336.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Dog Park

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 14502.00
  • Lot Size Acres: 0.3329

Rental Info

  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Electric Expense: 5920.00
  • Fuel Expense: 756.00
  • Gross Income: 501840.00
  • Gross Multiplier: 15.94
  • Gross Operating Income: 491983.00
  • Gross Scheduled Income: 501840.00
  • Insurance Expense: 8000.00
  • Lot Size Area: 14502.0000 Square Feet
  • Maintenance Expense: 7976.00
  • Net Operating Income: 357396.00
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 18
  • Number Of Units Leased: 18
  • Number Of Units Total: 18
  • Operating Expense: 134588.00
  • Rent Control: No
  • Total Expenses: 134588.00
  • Vacancy Allowance: 9857

Tax Info

  • New Taxes Expense: 96000.00
  • Tax Census Tract: 1253.10
  • Tax Lot: 5
  • Tax Tract Number: 1316
  • TaxOtherAnnualAssessmentAmount: 1944.00

Range of Values:

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Sold Price
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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
06/02/2022 06/02/22 Sold $8,350,000 +4.4% $588 / Sq Ft
03/14/2022 03/14/22 Pending -- -- --
02/15/2022 02/15/22 For Sale $8,000,000 +16.8% $563 / Sq Ft
07/31/2018 07/31/18 Sold $6,850,000 -3.2% $482 / Sq Ft
06/01/2018 06/01/18 Pending -- -- --
05/08/2018 05/08/18 For Sale $7,075,000 -- $498 / 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: BB22029502

California Regional Multiple Listing Service (CRMLS)