$2,295,000 Price Analysis   ♡   Los Angeles, CA 90025 8 bed 10 bath 5,433 SqFt ($422/SqFt) 7,361SqFt lot. Built 1957 Listed 2024-05-31, Taxes $31,722 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
1723 Corinth Ave is a ten (10)
Unit multi-family property that has entitled plans for a new nine (9) unit project. Located in a wonderful West LA location, the property is near all the restaurants and shops on Sawtelle Blvd. and in close proximity to Westwood, Santa Monica and Century City. The existing two story building was constructed in 1957 is approximately 5, 433 SF and has an excellent unit mix of eight (8) 1 BR + 1 Bath and two (2) studio units. Two of the 1 BR + 1 Bath units are currently vacant and the building still requires the seismic retrofit work for the tuck under parking structure.
The seller's have fully entitled plans for a new nine (9) unit development project. The new building will be four stories in heights with one level of subterranean parking. Th total square footage of the new property will be approximately 10, 251 SF and will have a five (5) 2 BR + 2 Bath and four (4) 3 BR + 2 Bath units. The new multi-family development does NOT require any of the units to be designated as low income and does not fall under SB8. All the tenants have been notified that the property has been Ellised and is expected to be fully vacant by March of 2025. Unique opportunity for a savvy value-add multi-family investor or developer looking to build a new apartment in prime West LA. Full development plans are available upon request.
Presented by Errol Spiro at
Miller & Desatnik Realty Co.
Property MLS #24-398551 from TheMLSCLAW
Full Bathrooms: 10
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7361
Parking Total: 8
Calculated Total Monthly Association Fees: 0
Number of Units: 10
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 3600, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 18800
County: Los Angeles
Cap Rate: 4.16
Directions: West of Sawtelle Blvd. and south of Santa Monica Blvd.
Source Property Type: Residential Income
Area: West L.A.
Source Neighborhood: West L.A.
Parcel Number: 4261-017-008
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $525,588 + $2,102,356 $2,627,944 | $31,722 |
| 2021 | $515,283 + $2,061,134 $2,576,417 | $31,327 |
| 2020 | $510,000 + $2,040,000 $2,550,000 | $31,646 |
| 2019 | $324,583 + $1,200,973 $1,525,556 | $11,654 |
| 2018 | $318,219 + $1,177,425 $1,495,644 | $18,824 |
| 2017 | $311,980 + $1,154,339 $1,466,319 | $18,385 |
| 2016 | $305,863 + $1,131,705 $1,437,568 | $17,944 |
| 2015 | $301,269 + $1,114,706 $1,415,975 | $17,689 |
| 2014 | $295,368 + $1,092,871 $1,388,239 | $17,804 |
| 2013 | $294,034 + $1,087,932 $1,381,966 | $17,799 |
| 2012 | $288,269 + $1,066,600 $1,354,869 | $18,033 |
| 2010 | $282,617 + $1,045,687 $1,328,304 | $17,567 |
| 2009 | $281,172 + $1,040,338 $1,321,510 | $16,933 |
| 2009 | $280,505 + $1,037,872 $1,318,377 | $16,933 |
| 2008 | $275,659 + $1,019,940 $1,295,599 | $16,220 |
| 2007 | $270,254 + $999,942 $1,270,196 | $15,690 |
$2,295,000
TheMLSCLAW
Sold 2019-02-26
$1,900,000
Public Record
Sold 2003-04-24
$1,175,000
Public Record
Listing removed 2003-03-16
$1,149,000
ITECH
Listed 2002-09-20
$1,149,000
ITECH
Sold 1998-12-31
$650,000
ITECH
Listed 1998-08-24
$675,000
ITECH
Sold 1994-03-16
$530,000
Public Record
Sold 1988-02-04
$660,000
Public Record
Sold 1986-10-31
$540,000
Public Record
Year Built: 1957
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 67
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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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.