$4600000 Price Analysis   ♡   Los Angeles, CA 90004 25 bed 23 bath 12628 SqFt ($364/SqFt) 0.33 acre lot. Built 1961 Listed 2024-05-14, Taxes $33963 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Property Details
Well-maintained 17-unit building cash flowing at an excellent Current Cap Rate of 5.5% and 12.5 GRM from day 1 with an incredible 53% upside to 9.6% Cap Rate and 8.2 GRM on proforma in prime Hancock Park/Larchmont Village area. Attractively priced at 270k/door and 364/SF with an excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units and 9 (1bed/1bath) units including 3 brand-new (1bed /1bath) attached ADUs currently under construction. Additionally, 2 of the units have been completely renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances and major exterior capital improvements.
Amenities include a renovated pool and courtyard with seating areas, on-site laundry facilities, secure entry and covered parking spaces for convenience. Individually metered for gas and electricity with soft-story retrofit already completed. Large 14, 364 SF R3 TOC Tier 3 corner lot for future development potential. Located in the heart of Hancock Park minutes away from Larchmont Village, Koreatown, Hollywood and Melrose s well as many hip neighborhood attractions, restaurants, bars and shops such as Wilshire Country Club, Paramount Studios, H Mart, Levain Bakery, Salt and Straw and Great White, popping up all around the area.
Presented by Armin Soleimani at
Global Platinum Properties, Inc.
Property MLS #24-391961 from TheMLSCLAW
Full Bathrooms: 23
Heating Features: Wall
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 14319
Calculated Total Monthly Association Fees: 0
Number of Units: 17
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2495, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2495, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2495, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 2495, 5 BedsTotal: 2, 5 BathsTotal: 1, 5 SquareFeet: 3250, 6 BedsTotal: 2, 6 BathsTotal: 2, 6 SquareFeet: 2495, 7 BedsTotal: 1, 7 BathsTotal: 1, 7 SquareFeet: 3250, 8 BedsTotal: 2, 8 BathsTotal: 2, 8 SquareFeet: 3250, 9 BedsTotal: 2, 9 BathsTotal: 1, 9 SquareFeet: 2995, 10 BedsTotal: 2, 10 BathsTotal: 2, 10 SquareFeet: 3250
County: Los Angeles
Cap Rate: 5.55
Directions: Located between Beverly Blvd. and Council Street, just one block west of Western Ave.
Source Property Type: Residential Income
Area: Hancock Park-Wilshire
Source Neighborhood: Hancock Park-Wilshire
Parcel Number: 5517-004-011
Postal Code Plus 4: 4054
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $984108 + $1736669 $2720777 | $33963 |
| 2021 | $964812 + $1702617 $2667429 | $33509 |
| 2020 | $954920 + $1685159 $2640079 | $33834 |
| 2019 | $936197 + $1652117 $2588314 | $32545 |
| 2018 | $917841 + $1619723 $2537564 | $32223 |
| 2017 | $899845 + $1587964 $2487809 | $31472 |
| 2016 | $882201 + $1556828 $2439029 | $30687 |
| 2015 | $868950 + $1533443 $2402393 | $30255 |
| 2014 | $851929 + $1503405 $2355334 | $30429 |
| 2013 | $780000 + $1570000 $2350000 | $15240 |
| 2012 | $820195 + $1230293 $2050488 | $27684 |
| 2010 | $804113 + $1206170 $2010283 | $26894 |
| 2009 | $562345 + $562345 $1124690 | $15245 |
| 2009 | $798104 + $1197156 $1995260 | $15245 |
| 2008 | $551319 + $551319 $1102638 | $14640 |
| 2007 | $540509 + $540509 $1081018 | $14141 |
$4600000
TheMLSCLAW
Listing removed 2024-05-10
$0
TheMLSCLAW
Listed 2024-03-07
$3850000
TheMLSCLAW
Listing removed 2024-03-02
$0
TheMLSCLAW
Price Changed 2024-02-07
$3850000
TheMLSCLAW
Listed 2024-01-09
$3995000
TheMLSCLAW
Sold 2023-10-04
$2250000
Public Record
Listing removed 2019-05-29
$0
TheMLSCLAW
Relisted 2019-04-13
$4000000
TheMLSCLAW
Listing removed 2019-04-12
$0
TheMLSCLAW
Listed 2018-11-27
$4000000
TheMLSCLAW
Sold 2013-03-19
$2350000
Public Record
Sold 2002-07-03
$1000000
Public Record
Sold 1998-03-13
$580000
Public Record
Year Built: 1961
Levels: Two Level
Living Area Source: Owner
Property Age: 63
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.