$750,000
SOLD APR 26, 2020

7317 Parmelee Ave Los Angeles, CA 90001

3 Beds
5 Baths
1,180 Sq Ft
5,029 Sq Ft Lot

Recently Sold

$636 Per Sq Ft

5% Below List Price

20 Days on Market

About This Home

As of April 2020

Just off the major cross streets of Florence Avenue and Compton Avenue in the Florence-Graham neighborhood of South Los Angeles, we are selling three apartment buildings, totaling 14 units. The owner will sell 1115 E 7th Street with either or both 7408 Elsie Street and 7317 Parmelee Avenue. The unit mix is a balanced mix of Studio's, One-Bedrooms, Two-Bedrooms and Three-Bedrooms. All these buildings are located on quiet streets within this sub-market of Los Angeles and offer an investor unparalleled cash-flow moving forward. All three properties, totaling 14 units, are located within two blocks of each other for ease of management moving forward. 7317 Parmelee Avenue - *(1) Three-Bedroom/One-Bath House + (4) Studios *Ample Parking in Front and Back of Property *Landlord Pays All Utilities *All Tenants are Section 8 * 7.41% Cap Rate 9.01 GRM on Current Rents *11% Cash on Cash Return with 30% Down Payment

Last Agent to Sell the Property

David Harrington

Matthews Real Estate Investment Services License #01320460 Listed on: 01/24/2020

Last Buyer's Agent

David Harrington

Matthews Real Estate Investment Services License #01320460 Listed on: 01/24/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 5,029 Sq Ft Lot

Parking

  • 5 Parking Spaces

Interior Spaces

  • 1,180 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 5 Bathrooms

Community Details

  • 2 Buildings
  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number 6024-019-043

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 1180
  • Stories: 1
  • Year Built: 1924
  • Number Of Photos: 2
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 3
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 5.00
  • Den: 0
  • Price Per S Q F T: 669.49

Exterior Features

  • Other Structures: Other
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Total Parking: 5

Lot Info

  • Assessed Improvement Value: 85536
  • Assessed Land Value: 184742
  • Assessor Parcel Number: 6024-019-043
  • Geocode Override: No
  • Lot Size Area: 5029

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 9.01
  • Number Of Units: 5
  • Rent Control: 100%
  • Total Annual Expense: 26546
  • Type Of Units: apartments
  • Vacancy Rate: 3%

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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 Change Sq Ft Price
06/05/2025 06/05/25 For Sale $800,000 +6.7% $678 / Sq Ft
04/26/2020 04/26/20 Sold $750,000 -5.1% $636 / Sq Ft
02/13/2020 02/13/20 Pending -- -- --
01/24/2020 01/24/20 For Sale $790,000 +315.8% $669 / Sq Ft
08/02/2014 08/02/14 Sold $190,000 -46.3% $328 / Sq Ft
05/19/2014 05/19/14 Pending -- -- --
01/29/2014 01/29/14 For Sale $354,000 -- $610 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 20-547408

The MLS