NOT LISTED FOR SALE

Los Angeles, CA 90011

Historic South Central Neighborhood

Estimated Value: $1,028,000 - $1,333,569

5 Beds
6 Baths
928 Sq Ft
$1,272/Sq Ft Est. Value

Last Sold November 19, 2014

Last sale price $550,000 $593 Per Sq Ft

Est. 115% increase in value since last sale

Current estimated payment $7,256/month

173 Days on Market

About This Home

As of November 2014

This six unit apartment complex in the City of Los Angeles is back on the market. Subject to cancellation of current escrow. The site is located north of Vernon between Main Street and San Pedro Place. The unit mix consists of four - one bedroom apartments and two - two bedroom units. The structures were built in 1925 and contain 2,736 square feet with a 6,750 square foot lot. The units are centrally located near many job centers including USC, the Staples Center and L.A. Live. This excellent investment provides an immediate cash on cash return of close to 10%, with plenty of upside in the rents. There is an attractive CAP rate of 7.1 and the GRM is 9.27 on current rents. The property is subject to rent control. Please do not walk on the property and disturb or question the tenants.

Last Agent to Sell the Property

Jerome McAlpin

McAlpin & Company License #00939725 Listed on: 05/12/2014

Last Buyer's Agent

Daron Case

RE/MAX Commercial & Inv Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,578

Year Built

  • Built in 1925

Lot Details

  • 6,750

Home Design

  • 928 Sq Ft Home

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 6 Bathrooms

Parking

  • 6 Parking Spaces
  • Detached Carport Space

Additional Features

  • 6,750 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 5113-036-009

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,578

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: No
  • Living Area: 928
  • Year Built: 1925
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 5
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 6.00
  • Den: 0
  • Price Per S Q F T: 644.40

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Carport Detached
  • Total Parking: 6

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Value: 124800
  • Assessed Land Value: 178400
  • Assessor Parcel Number: 5113-036-009
  • Geocode Override: No
  • Lot Size Area: 6750

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 9.27
  • Number Of Units: 6
  • Rent Control: 100
  • Total Annual Expense: 19980
  • Type Of Units: Apartments
  • Vacancy Rate: 1933

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 21, 2016
Sold by
Macfarlane High Income Real Estate Lp
Bought by
Imi Holdings Llc
Current Estimated Value
$1,180,785

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$530,000
Outstanding Balance
$425,318
Interest Rate
3.66%
Mortgage Type
Commercial
Estimated Equity
$816,340

Purchase Details

Listed on
May 12, 2014
Closed on
Nov 10, 2014
Sold by
Hernandez Alma
Bought by
Macfarlane High Incarne Real Estate Lp
Seller's Agent
Jerome McAlpin
McAlpin & Company
Buyer's Agent
Daron Case
RE/MAX Commercial & Inv Realty
List Price
$598,000
Sold Price
$550,000
Premium/Discount to List
-$48,000
-8.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.80%

Purchase Details

Closed on
Apr 6, 2005
Sold by
Hernandez Miguel A
Bought by
Hernandez Alma

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$466,000
Interest Rate
5.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 24, 2005
Sold by
Conquistador Investments Llc
Bought by
Hernandez Alma

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$466,000
Interest Rate
5.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 16, 2005
Sold by
Gonzalez Eutiquio and Gonzalez Eva E
Bought by
Conquistador Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$466,000
Interest Rate
5.6%
Mortgage Type
Commercial
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
Imi Holdings Llc $780,000 North American Title Co Inc
Macfarlane High Incarne Real Estate Lp $550,000 Ort
Hernandez Alma -- --
Hernandez Alma -- Provident Title Company
Conquistador Investments Llc $430,000 First American Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Imi Holdings Llc $10,000
Open Imi Holdings Llc $530,000
Previous Owner Macfarlane High Income Real Estate Lp $6,000,000
Previous Owner Hernandez Alma $120,000
Previous Owner Hernandez Alma $195,000
Previous Owner Hernandez Miguel $400,000
Previous Owner Hernandez Alma $406,250
Previous Owner Conquistador Investments Llc $466,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/19/2014 11/19/14 Sold $550,000 -8.0% $593 / Sq Ft
11/01/2014 11/01/14 Pending -- -- --
05/12/2014 05/12/14 For Sale $598,000 -- $644 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $11,578 $905,251 $588,414 $316,837
2024 $11,578 $887,502 $576,877 $310,625
2023 $11,367 $870,101 $565,566 $304,535
2022 $10,866 $853,041 $554,477 $298,564
2021 $10,732 $836,315 $543,605 $292,710
2019 $10,429 $811,511 $527,482 $284,029
2018 $10,291 $795,600 $517,140 $278,460
2016 $7,340 $558,387 $203,050 $355,337
2015 $7,241 $550,000 $200,000 $350,000
2014 $5,921 $426,000 $200,000 $226,000
Source: Public Records

Agents Affiliated with this Home

  • Jerome McAlpin

    Seller's Agent in 2014

    Jerome McAlpin

    McAlpin & Company

    (310) 902-8977

    32 Total Sales

    Jerome McAlpin
    Section Image

  • D

    Buyer's Agent in 2014

    Daron Case

    RE/MAX

See All Agents

Source: The MLS

MLS Number: 14-760299

The MLS

APN: 5113-036-009

California Los Angeles County Los Angeles 90011

Historic South Central

This home since 12 May 2014 and is currently estimated at $1,180,785, approximately $1,272 per square foot. This property was built in 1925. This home is a home located in Los Angeles County with nearby schools including Ricardo Lizarraga Elementary School, William Jefferson Clinton Middle School, and Thomas Jefferson Senior High School.

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