NOT LISTED FOR SALE

7137 Greeley St Los Angeles, CA 91042

2 Beds
1 Bath
7,360 Sq Ft
10,855 Sq Ft Lot

Last Sold September 28, 2023

Last sale price $2,070,000 $281 Per Sq Ft

3 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Card or Code Access
  • Wrought Iron Fence
  • Verdugo Hills Senior High School Rated A-
  • Laundry Room
  • Wall Furnace

About This Home

As of September 2023

Located on Greeley Street in Tujunga, California, this property is a great investment for those looking for the opportunity pick their own tenants while gaining a strong cash-flow. With (8) - 2 Bed / 1 Bath Units with washer & dryer, a buyer will be given the opportunity to invest in a great unit mix in a growing sub-market. Five of eight units are currently vacant with three of the five vacant units offering renovated finishes. The property's current state allows for additional methods to increase overall through the utilization of a RUBS system to bill back tenants for a portion of the utilities (Buyer to verify). The building was built in 1940. But, was moved to the property in 1987. With a certificate of occupancy dated in 1988, there is a possibility of removing the asset from Los Angeles RSO (Buyer to Verify). Furthermore, with the existing lot area, there is possibility to build two ADU's (Buyer to Verify).

Last Agent to Sell the Property

Casey Picard

Keller Williams Realty License #01921866 Listed on: 08/23/2023

Keller Williams Realty

Last Buyer's Agent

Martin Lazarian

JohnHart Real Estate License #01457363

JohnHart Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 10,855 Sq Ft Lot
  • No Common Walls
  • Wrought Iron Fence
  • No Sprinklers

Interior Spaces

  • 7,360 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Parking

  • 16 Parking Spaces
  • Parking Available
  • Assigned Parking

Utilities

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

Listing and Financial Details

  • Tax Lot 19
  • Tax Tract Number 101
  • Assessor Parcel Number 2568013019

Community Details

Building Details

  • 3 Leased Units
  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,970
  • Insurance Expense $4,904
  • Maintenance Expense $4,800
  • Other Expense $1,336
  • Pest Control $900
  • Professional Management Expense $7,308
  • Trash Expense $3,182
  • Water Sewer Expense $5,959
  • New Taxes Expense $25,059
  • Operating Expense $57,253
  • Gross Income $188,352
  • Net Operating Income $125,448

Additional Features

  • 8 Units
  • Card or Code Access

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.83
  • Professional Management Expense: 7308.06
  • Property Attached: No
  • Security: Card/Code Access
  • View: No
  • Water Sewer Expenses: 5959.29
  • Zoning: LAR3-2
  • Property Type: Residential Income
  • Gardener Expense: 1970.45
  • Parcel Number: 2568013019
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Appliances: No
  • Price Per Square Foot: 292.12

Exterior Features

  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 16.00

Utilities

  • Sprinklers: No
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: In Closet
  • Pest Control Expense: 900.00
  • Trash Expense: 3181.79
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Land Lease: No
  • Lot Features: Sprinklers None
  • Lot Size Sq Ft: 10855.00
  • Lot Size Acres: 0.2492

Multi Family

  • Gross Income: 188352.00
  • Gross Multiplier: 11.41
  • Gross Scheduled Income: 188352.00
  • Insurance Expense: 4904.00
  • Lot Size Area: 10855.0000 Square Feet
  • Maintenance Expense: 4800.00
  • Net Operating Income: 125448.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 8
  • Operating Expense: 57253.00
  • Operating Expense Percent: 31.34
  • Other Expense: 1336.00
  • Other Expense Description: Direct Assessments
  • Rent Control: Yes
  • Total Expenses: 57253.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 25058.68
  • Tax Lot: 19
  • Tax Tract Number: 101...

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
09/28/2023 09/28/23 Sold $2,070,000 -3.7% $281 / Sq Ft
08/22/2023 08/22/23 For Sale $2,150,000 -- $292 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Casey Picard

    Seller's Agent in 2023

    Casey Picard

    Keller Williams Realty

    (626) 376-9233

    2 in this area

    22 Total Sales

    Casey Picard
    Section Image
  • Martin Lazarian

    Buyer's Agent in 2023

    Martin Lazarian

    JohnHart Real Estate

    (818) 259-1046

    23 in this area

    153 Total Sales

    Martin Lazarian
    Section Image
  • Masis Babakhanyan

    Buyer Co-Listing Agent in 2023

    Masis Babakhanyan

    JohnHart Real Estate

    (818) 240-4142

    22 in this area

    148 Total Sales

    Masis Babakhanyan
    Section Image
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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-14817

Pasadena-Foothills Association of REALTORS®
California Los Angeles County Los Angeles 91042

7137 Greeley St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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