NOT LISTED FOR SALE
12 Beds
31 Baths
17,364 Sq Ft
7,495 Sq Ft Lot

Last Sold May 16, 2023

Last sale price $3,200,000 $184 Per Sq Ft

30 Days on Market

Highlights

  • City View
  • Enclosed Patio or Porch
  • East Facing Home
  • Fenced Yard
  • Resident Manager or Management On Site
  • Wood Siding

About This Home

As of May 2023

The subject property is a thirty two (32) Unit Apartment Building located in the Westlake/ McArthur Park submarket of Los Angeles just West of Downtown. The apartment building is three stories and includes 17,364square feet. There are (22) Studios, (8) 1 Bed/1 Bath and (2) 2 Bed/1 Bath units. Buyer to do their own investigation to confirm total number of legal units in the building. Both gas and electric are master metered for all units. The building was built in 1906 and sits on a 7,495 Square foot zonedLAC2-1. The building sits in the Westlake Recovery Area is designated as a Transit Oriented Community Tier 3 allowing for an 80% density bonus. The property faces East on Union Ave with walk up entry to the lobby. There are two private areas on both sides of the front walk up occupied by tenants. A billboard owned by Lamar is located at the front of the property on the Northern property line. There is alley access at the rear of the property with entry on both 8th St. to the North and James M. Wood to the South.

Last Agent to Sell the Property

Will James

Lyon Stahl Investment Real Estate, Inc. License #01734419 Listed on: 02/27/2023

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Peter James

Lyon Stahl Investment Real Estate, Inc. License #01748556

Last Buyer's Agent

Will James

Lyon Stahl Investment Real Estate, Inc. License #01734419 Listed on: 02/27/2023

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1906

Lot Details

  • 7,495 Sq Ft Lot
  • East Facing Home
  • Fenced Yard
  • Front Yard

Home Design

  • Split Level Home
  • Rolled or Hot Mop Roof
  • Wood Siding

Interior Spaces

  • 17,364 Sq Ft Home
  • 3-Story Property
  • City Views
  • Gas and Electric Range

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 31 Bathrooms

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Gas Water Heater
  • Sewer in Street

Additional Features

  • Enclosed Patio or Porch
  • City Lot

Listing and Financial Details

  • The owner pays for gas, electricity, water
  • Assessor Parcel Number 5142-017-003

Community Details

Building Details

  • Rent Control
  • Vacancy Allowance $10,951

Additional Features

  • 30 Units
  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Year Built

Built in 1906

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Entry Location: Foyer
  • Living Area: 17364
  • Lot Acreage: 0.1721
  • Probate: No
  • Stories: 3
  • Year Built: 1906
  • Number Of Photos: 8
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Gas/Electric Range
  • Bedrooms: 12
  • Common Walls: Attached
  • Total Bathrooms: 31.00
  • Price Per S Q F T: 213.08

Exterior Features

  • Direction Faces: East
  • Construction: Wood Siding
  • Other Structures: None
  • Tennis Court Y/N: No
  • Patio: Enclosed
  • Paved: Yes
  • Pool: No
  • Roof: Rolled/Hot Mop
  • Spa Yn: No
  • View: City
  • View: Yes

Garage/Parking

  • Garage Structures: 0

Utilities

  • Water Heater: Gas
  • Cooling: Window Unit(s)
  • Heating: Wall
  • Sewer: In Street
  • Water: District
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 68.12
  • Assessed Improvement Value: 148056
  • Assessed Land Percent: 31.88
  • Assessed Land Value: 69282
  • Total Assessed Value: 217338
  • Assessor Parcel Number: 5142-017-003
  • Lot Description: Sidewalks, Fenced Yard, Front Yard, Street Lighting, Single Lot, Resident Manager
  • Lot Location: City
  • Lot Size Area: 7495

Rental Info

  • Total Actual Rent: 364685.00
  • Land Lease Type: Fee
  • Owner Pays: Gas, Electricity, Water
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.15
  • Number Of Units: 30
  • Total Annual Expense: 210651
  • Type Of Units: Residential
  • Vacancy Allow: 10951
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 3.0

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
05/16/2023 05/16/23 Sold $3,200,000 -13.5% $184 / Sq Ft
03/29/2023 03/29/23 Pending -- -- --
02/27/2023 02/27/23 For Sale $3,700,000 -- $213 / 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: 23-245289

The MLS