NOT LISTED FOR SALE
8 Beds
7 Baths
4,248 Sq Ft
0.26 Acres

Last Sold December 20, 2013

Last sale price $550,000 $129 Per Sq Ft

21 Days on Market

Highlights

  • 0.26 Acre Lot
  • No HOA
  • Wall Furnace
  • Private Yard
  • Cooling System Mounted To A Wall/Window
  • 1-Story Property

About This Home

As of December 2013

Located in the City of Los Angeles, this 7 unit apartment is a single story 3 building property built in 1940. The unit mix is comprised of 6 one bedroom one bath units and 1 two bed one bath unit. At the rear of the property is 6 enclosed garages with additional open spaces. There is a center driveway to give access to the parking in rear. Property is subject to rent control. Utilities are separately metered for gas and electricity.

This building presents an opportunity to purchase a property with in place management and a steady flow of rents. Rents are approx 25% below market with room for increases over time to increase return.

Located in Hyde Park district, North of Florence, East of Crenshaw Blvd

Last Agent to Sell the Property

Kuan Sung

RE/MAX 2000 REALTY License #00970799 Listed on: 10/25/2013

RE/MAX 2000 REALTY

Co-Listed By

Carlos Skubacz

RE/MAX 2000 Realty License #01474295

Last Buyer's Agent

Jairo Erazo

Pacific Properties Realty Group License #01454181

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 0.26 Acre Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Chain Link Fence
  • Private Yard

Parking

  • 6 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached
  • Entry on the 1st floor
  • Rolled or Hot Mop Roof

Interior Spaces

  • 4,248 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 7 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 610
  • Tax Tract Number 2352
  • Assessor Parcel Number 4006026009

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 7 Units

Building Details

  • 7 Leased Units
  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $503
  • Gardener Expense $600
  • Insurance Expense $2,500
  • Maintenance Expense $1,250
  • Other Expense $280
  • Professional Management Expense $2,737
  • Trash Expense $1,308
  • Water Sewer Expense $1,517
  • New Taxes Expense $7,468
  • Gross Income $4,562
  • Net Operating Income $36,581

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Parking

6

Listing Details

  • Assessments: Yes
  • CapRate: 6.22
  • Professional Management Expense: 2737.00
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 1517.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 4006026009
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 129.47

Exterior Features

  • Fencing: Block, Chain Link
  • Pool Private: No
  • Roof: Rolled/Hot Mop
  • Spa: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Heating Type: Wall Furnace
  • Trash Expense: 1308.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Features: Yard
  • Lot Size Sq Ft: 11333.00
  • Lot Size Acres: 0.2600

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 503.00
  • Gross Income: 4562.00
  • Gross Multiplier: 10.74
  • Gross Scheduled Income: 54744.00
  • Insurance Expense: 2500.00
  • Lot Size Area: 11333.0000 Square Feet
  • Maintenance Expense: 1250.00
  • Net Operating Income: 36581.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 18163.00
  • Other Expense: 280.00
  • Other Expense Description: City LA
  • Rent Control: Yes
  • Total Actual Rent: 4562.00

Tax Info

  • New Taxes Expense: 7468.00
  • Tax Lot: 610
  • Tax Tract Number: 2352
  • Tax Year: 2013

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
12/20/2013 12/20/13 Sold $550,000 -6.5% $129 / Sq Ft
11/15/2013 11/15/13 Pending -- -- --
10/25/2013 10/25/13 For Sale $588,000 -- $138 / 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: CV13217637

California Regional Multiple Listing Service (CRMLS)