NOT LISTED FOR SALE

748 E 42nd St Los Angeles, CA 90011

Historic South Central Neighborhood
6 Beds
6 Baths
3,104 Sq Ft
5,258 Sq Ft Lot

Last Sold March 10, 2020

Last sale price $729,284 $235 Per Sq Ft

104 Days on Market

About This Home

As of March 2020

The Subject property is a part of a 5-property portfolio, which is a true value-add investment opportunity located throughout Los Angeles totaling 24 units; the properties are located among South Park and South Los Angeles neighborhoods. The subject properties present an impressive unit mix throughout consisting of 22 one-bedrooms and 2 two-bedrooms; the majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase cash flow dramatically through renovations. The portfolio is being offered at a low price per unit of $150,417 blended; significant loss-to-lease of over 43%. With current rents below market and the subject properties being just 4-6 units, unit turnover and the achievement of market rents over time will dramatically increase the income and value of each property on an individual basis.Each subject property is located within densely populated submarkets of Los Angeles with rising rents year-over-ye

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 10/22/2019

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 10/22/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 5,258 Sq Ft Lot

Home Design

  • 3,104 Sq Ft Home

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Community Details

  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 5115-005-004

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3104
  • Price Per Unit: 133333.00
  • Year Built: 1956
  • Number Of Photos: 8
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 6
  • Total Bathrooms: 6.00
  • Price Per S Q F T: 257.73

Exterior Features

  • Other Structures: None

Garage/Parking

  • Other Spaces: 4
  • Parking Garage: Uncovered
  • Total Parking: 4

Lot Info

  • Assessor Parcel Number: 5115-005-004
  • Geocode Override: No
  • Lot Size Area: 5258

Rental Info

  • Total Actual Rent: 4572.00

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 14.49
  • Number Of Units: 6
  • Total Annual Expense: 25972
  • Type Of Units: Apartment
  • Vacancy Rate: 0

Tax Info

  • Tax Rate Year: 2019

Range of Values:

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Average Value
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List Price
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
03/10/2020 03/10/20 Sold $729,284 -8.8% $235 / Sq Ft
02/03/2020 02/03/20 Pending -- -- --
10/22/2019 10/22/19 For Sale $800,000 -- $258 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2020

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    88 Total Sales

    Neema Ahadian
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Map

Source: The MLS

MLS Number: 20-543770

The MLS
California Los Angeles County Los Angeles 90011 Historic South Central

748 E 42nd St, Los Angeles, CA

This home is located at 748 E 42nd St, Los Angeles, CA 90011 since 22 October 2019. This property was built in 1956. 748 E 42nd St is a home located in Los Angeles County with nearby schools including Harmony Elementary School, George Washington Carver Middle School, and Thomas Jefferson Senior High School.

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