$1,215,000 Price Analysis 1210 E 68th StLos Angeles, CA 90001 11 bed 5 bath 3,441 SqFt ($353/SqFt) 5,390SqFt lot. Built 1941 Listed 2024-05-14, Taxes $10,257 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
A 5-unit bungalow apartment community located in the Florence neighborhood of South Los Angeles, CA. The property, including a fully permitted ADU built in 2022, is comprised of an excellent unit mix of (2) 2 bed/1 Bath units, (2) 3 bed/1 Bath unit and (1) 1 Bed/1 Bath unit. There are currently five (5) Section 8 tenants in-place offering excellent security f income and collections. The property boasts a current monthly income of $11, 729, a 7.74% Cap Rate, and8.88 GRM on current income. Section 8 Voucher Payment Standards (per HACLA) are currently up to $2, 407 for1-bedroom units, $3, 052 for 2-bedroom units and $3, 915 for3-bedroom units as of 2/2024.
The gated property also sits on a 5, 390 square feet lot.1210 E 68th St is centrally located 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to several schools and local amenities along Central Avenue and Florence Avenue. South Los Angeles has seen significant rent growth over th e past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2, 300-$2, 600and Section 8 Voucher Payment Standards rising up to$3, 052. With low vacancy rates, landlord-favored market conditions and numerous employment options nearby, South LA is poised for significant long-term growth.
Presented by Brandon Evans at
Rosano Partners.
Property MLS #24-391957 from TheMLSCLAW
Year | Assessments Building + Land Total | Tax |
---|---|---|
2022 | $408,907 + $304,841 $713,748 | $10,257 |
2021 | $400,890 + $298,864 $699,754 | $10,025 |
2020 | $396,780 + $295,800 $692,580 | $10,096 |
2019 | $389,000 + $290,000 $679,000 | $9,735 |
2018 | $275,706 + $260,100 $535,806 | $8,053 |
2017 | $270,300 + $255,000 $525,300 | $7,905 |
2016 | $184,490 + $130,087 $314,577 | $5,294 |
2015 | $181,719 + $128,133 $309,852 | $5,221 |
2014 | $178,160 + $125,624 $303,784 | $5,231 |
2013 | $177,355 + $125,057 $302,412 | $5,199 |
2012 | $173,878 + $122,605 $296,483 | $5,207 |
2010 | $170,469 + $120,201 $290,670 | $5,076 |
2009 | $169,597 + $119,587 $289,184 | $4,897 |
2009 | $169,195 + $119,303 $288,498 | $4,897 |
2008 | $166,272 + $117,243 $283,515 | $4,715 |
2007 | $163,012 + $114,945 $277,957 | $4,546 |
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.