$1,640,000 Price Analysis   ♡   Los Angeles, CA 90018 8 bed 8 bath 7,574 SqFt ($216/SqFt) 8,005SqFt lot. Built 1929 Listed 2024-04-23, Taxes $17,231 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are proud to present The Jefferson
An exceptional multifamily opportunity located at 3044 Edgehill Dr., Los Angeles, Clifornia. This unique apartment complex is comprised of (8) apartment units in one distinct two-story building. The building was constructed of a wood frame with a flat roof and stucco exterior. The development of the building was completed in 1929 and encompassed an impressive 7, 574 building square feet situated on one parcel totaling 8, 005 square feet, offering a zoning of LARD1.5. The updated apartment units are massive and consist of (8) one-bedroom + one-bath units, offering two points of entry. Each unit is individually metered for gas and electric, along with individual hot water heaters, further lowering utility costs. In recent years, the property systems have been upgraded and the property offers a newer roof and copper plumbing, along with earthquake gas shut-off valves. The building is accessible from the front of the property off Edgehill Dr.
and the property provides 7 onsite parking spaces that have yet to be monetized. Though certain upgrades have been made, there is still a considerable amount of value-add potential at the property, as well as tremendous upside, offering 88% in potential untapped rental income, making The Jefferson an incredible opportunity for an investor looking to acquire a well-positioned asset at an unbelievable price of $216.53 p/sf. (8) One-Bedroom + One-Bath Jefferson Park is a historic neighborhood located in the South Los Angeles region of Los Angeles, California. Situated south of Downtown Los Angeles, Jefferson Park is bounded by West Adams to the north, Leimert Park to the south, Arlington Heights to the west and the Exposition Park area to the east. The neighborhood is known for its diverse community, rich cultural heritage and historic architecture. Jefferson Park offers a range of housing options, including apartments, single-family homes and duplexes. The neighborhoods apartment rental market is diverse, with properties ranging from historic buildings with charming architectural details to modern developments with luxury amenities. Rental prices in Jefferson Park tend to be more affordable compared to other neighborhoods in Los Angeles, making it an attractive option for renters seeking urban living without the high costs.
Presented by Raymond A. Rodriguez IV at
Equity Union.
Property MLS #SR24080564 from CRMLS
Parking Total: 7
Lot Size Acres: 0.1837695
Lot Size Source: Public Records
Lot Size Square Feet: 8005
Bedrooms in Unit-1: 1
Total Bathrooms in Unit-1: 1
County: Los Angeles
Cap Rate: 4.13
Source Property Type: Residential Income
Area: C16 - Mid Los Angeles
Source Neighborhood: C16 - Mid Los Angeles
Number of Separate Electric Meters: 8
Number of Separate Gas Meters: 8
Parcel Number: 5051033011
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $360,902 + $1,006,153 $1,367,055 | $17,231 |
| 2021 | $353,826 + $986,425 $1,340,251 | $16,988 |
| 2020 | $350,198 + $976,311 $1,326,509 | $17,161 |
| 2019 | $343,332 + $957,168 $1,300,500 | $16,513 |
| 2018 | $336,600 + $938,400 $1,275,000 | $16,349 |
| 2017 | $201,854 + $67,274 $269,128 | $4,265 |
| 2016 | $197,897 + $65,955 $263,852 | $4,085 |
| 2015 | $194,925 + $64,965 $259,890 | $4,038 |
| 2014 | $191,107 + $63,693 $254,800 | $4,107 |
| 2013 | $190,244 + $63,406 $253,650 | $4,092 |
| 2012 | $186,514 + $62,163 $248,677 | $4,142 |
| 2010 | $182,857 + $60,945 $243,802 | $11,104 |
| 2009 | $181,923 + $60,634 $242,557 | $3,878 |
| 2009 | $200,000 + $600,000 $800,000 | $3,878 |
| 2008 | $178,356 + $59,446 $237,802 | $3,749 |
| 2007 | $174,859 + $58,281 $233,140 | $3,607 |
$1,640,000
CRMLS
Sold 2017-06-19
$1,250,000
Public Record
Sold 1987-05-14
$160,000
Public Record
Year Built: 1929
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 95
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Public Records
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.