$4,600,000 Price Analysis   ♡   Los Angeles, CA 90004 25 bed 23 bath 12,628 SqFt ($364/SqFt) 0.33 acre lot. Built 1961 Listed 2024-05-14, Taxes $33,963 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Property Details
Well-maintained 17-unit building cash flowing at an exceptional 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 Par k/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 electrcity 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 as 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 | $984,108 + $1,736,669 $2,720,777 | $33,963 |
| 2021 | $964,812 + $1,702,617 $2,667,429 | $33,509 |
| 2020 | $954,920 + $1,685,159 $2,640,079 | $33,834 |
| 2019 | $936,197 + $1,652,117 $2,588,314 | $32,545 |
| 2018 | $917,841 + $1,619,723 $2,537,564 | $32,223 |
| 2017 | $899,845 + $1,587,964 $2,487,809 | $31,472 |
| 2016 | $882,201 + $1,556,828 $2,439,029 | $30,687 |
| 2015 | $868,950 + $1,533,443 $2,402,393 | $30,255 |
| 2014 | $851,929 + $1,503,405 $2,355,334 | $30,429 |
| 2013 | $780,000 + $1,570,000 $2,350,000 | $15,240 |
| 2012 | $820,195 + $1,230,293 $2,050,488 | $27,684 |
| 2010 | $804,113 + $1,206,170 $2,010,283 | $26,894 |
| 2009 | $562,345 + $562,345 $1,124,690 | $15,245 |
| 2009 | $798,104 + $1,197,156 $1,995,260 | $15,245 |
| 2008 | $551,319 + $551,319 $1,102,638 | $14,640 |
| 2007 | $540,509 + $540,509 $1,081,018 | $14,141 |
$4,600,000
TheMLSCLAW
Listing removed 2024-05-10
$0
TheMLSCLAW
Listed 2024-03-07
$3,850,000
TheMLSCLAW
Listing removed 2024-03-02
$0
TheMLSCLAW
Price Changed 2024-02-07
$3,850,000
TheMLSCLAW
Listed 2024-01-09
$3,995,000
TheMLSCLAW
Sold 2023-10-04
$2,250,000
Public Record
Listing removed 2019-05-29
$0
TheMLSCLAW
Relisted 2019-04-13
$4,000,000
TheMLSCLAW
Listing removed 2019-04-12
$0
TheMLSCLAW
Listed 2018-11-27
$4,000,000
TheMLSCLAW
Sold 2013-03-19
$2,350,000
Public Record
Sold 2002-07-03
$1,000,000
Public Record
Sold 1998-03-13
$580,000
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.