$3,799,000 Price Analysis   ♡   Los Angeles, CA 90018 27 bed 24 bath 14,042 SqFt ($270/SqFt) 0.3 acre lot. Built 1964 Listed 2024-06-03, Taxes $46,643 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
PARTNERSHIP WANTS IT SOLD!!!
(Listed Price Close to What Partnership Paid When They Purchased the Building) We are pleased to present the opportunity to acquire Arlington Apartments in the submarket of Arlington Heights (LA Market) and in close prximity to Mid-City and Koreatown. This offering includes an 18-unit multifamily building built in 1964 with a foot print of approximately 14, 042 SF, sitting on a 12, 899 SF lot zoned LAR3. Arlington Apartments offers an investor a significant value add opportunity with approximately 75% (+/-) potential upside in rents spread across a desirable unit mix of over 50% 2 bedroom units. Soft story retrofit has been completed and the seller owns the laundry machines. This well-located multifamily property offers an investor a rare opportunity to secure a larger sized asset in a high demand and growth submarket with real reposition opportunity and impressive frontage.
Arlington Heights is diverse and populated neighborhood in Central Los Angeles with Koreatown to the north, Mid-City and Mid-Wilshire to the west, Jefferson Park to the south and Harvard Heights to the east. Located centrally in Los Angeles, Arlington Heights is a transit friendly melting pot of cultural influences. Situated north of the 10 FWY, this neighborhood provides easy access to Culver City t o the west and downtown LA to the east. Along La Brea Avenue, Wilshire Blvd and Western Ave you will find restaurants and popular bars. The stretch of Washington Blvd, anchored by the Underground Museum between 3rd and 6th avenues, is becoming a desirable location for art galleries and boutiques. Nestled right at the convergence of main thoroughfares and freeways, Arlington Heights allows for easy access to the wider region of LA and key employment centers.
Presented by Hirsch Sherman at
Keller Williams Realty Calabasas.
Property MLS #24-399531 from TheMLSCLAW
Full Bathrooms: 24
Lot Size Source: Assessor
Lot Size Square Feet: 12899
Parking Total: 18
Calculated Total Monthly Association Fees: 0
Number of Units: 18
Unit Features: 1 BathsTotal: 1, 2 BedsTotal: 1, 2 BathsTotal: 1, 3 BedsTotal: 2, 3 BathsTotal: 1, 4 BedsTotal: 2, 4 BathsTotal: 1.5, 5 BedsTotal: 2, 5 BathsTotal: 2
County: Los Angeles
Cap Rate: 4.1
Directions: Arlington Heights Area. West of S Western Avenue, East of Crenshaw Boulevard, South of W Washington Boulevard and North of W Adams Boulevard.
Source Property Type: Residential Income
Area: Mid Los Angeles
Source Neighborhood: Mid Los Angeles
Parcel Number: 5060-031-022
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $716,244 + $3,091,701 $3,807,945 | $46,643 |
| 2021 | $702,200 + $3,031,080 $3,733,280 | $46,025 |
| 2020 | $742,023 + $1,440,888 $2,182,911 | $28,335 |
| 2019 | $368,201 + $289,499 $657,700 | $9,862 |
| 2018 | $360,982 + $283,823 $644,805 | $9,595 |
| 2017 | $353,904 + $278,258 $632,162 | $9,380 |
| 2016 | $346,965 + $272,802 $619,767 | $9,014 |
| 2015 | $341,754 + $268,705 $610,459 | $8,905 |
| 2014 | $335,060 + $263,442 $598,502 | $9,056 |
| 2013 | $333,546 + $262,252 $595,798 | $9,051 |
| 2012 | $327,006 + $257,110 $584,116 | $9,168 |
| 2010 | $320,595 + $252,069 $572,664 | $9,082 |
| 2009 | $318,955 + $250,781 $569,736 | $8,773 |
| 2009 | $318,199 + $250,186 $568,385 | $8,773 |
| 2008 | $312,701 + $245,864 $558,565 | $8,468 |
| 2007 | $306,570 + $241,044 $547,614 | $8,160 |
$3,799,000
TheMLSCLAW
Listed 2024-06-03
$3,995,000
TheMLSCLAW
Sold 2020-02-14
$3,695,000
Public Record
Listing removed 2006-07-01
$2,185,000
ITECH
Listed 2006-02-24
$2,185,000
ITECH
Sold 1986-11-14
$350,000
Public Record
Year Built: 1964
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 60
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
Map directions Map directions Map directions Map directionsThe 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.