$2,380,000 Price Analysis   ♡   Los Angeles, CA 90012 13 bed 10 bath 7,658 SqFt ($310/SqFt) 7,428SqFt lot. Built 1992 Listed 2024-06-02, Taxes $14,064 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted
5 unit, city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park and Silverlake areas of Los Angeles and positioned strategically and conveniently near the #2, #5, #134, #110, e freeways and rapid transit including the Gold Line and bus routes. It is situated in a trendy and up-and-coming strong rental market amidst DTLA, Silverlake, Dodger Stadium, Echo Park and the Financial District neighborhoods with major employers including USC, Good Samaritan Hospital, Paramount Studios and the Los Angeles Fashion and Arts Districts and much more.This property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale.Comprising 3 stories with a total building size of 7, 658 sq.ft. per assessor, all units are sizeable & the apartment complex boasts a desirable unit mix including an OWNER unit of approx.2, 641 sq.ft.(will be available upon close of escrow with new paint & carpet throughout) featuring a 3br, 3.5bth townhome-style front unit with an office /den(could be used as a 4th bedroom), large recreation room, C/A, spacious laundry area, ample s torage rooms, a 2-car attached garage.
The outside laundry & storage rooms with best possibilities for ADU are utility ready with drywalls & windows.Buyer to Investigate feasibility, seller makes no guarantees and no warranties. The remaining 4 units are an ideal mix of two larger (over 1, 100 sq. ft. ea) 3br, 2bth U and two good-sized 2-br, 1-bth U. Each unit boasts an excellent layout, individual water heaters and separate metering for gas and electrcity utilities, ensuring convenience and efficiency. All 4 units are occupied by long-term tenants on month to month leases. Rent comparable reports indicate a positive upside and added investment potential. Property is not under citys Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 and Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees and no warranties. Ample parking includes 3 covered spaces and 5 open parking spaces. Residents benefit from an array of culinary delights, cultural experiences and artistic exhibitions for investors, owner or professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of Los Angeles most dynamic and sought-after neighborhoods.
Presented by Stella Chow at
RE/MAX PREMIER PROPERTIES.
Property MLS #WS24109540 from CRMLS
Living Room Balcony
Storage
Flooring: Carpet, Laminate, Tile, Vinyl
Appliances YN: Yes
Laundry Features: Inside
Heating: Yes
Garage Spaces: 10
Parking Features: Parking YN: Yes, Parking Features: Assigned, Carport, Attached Carport, Detached Carport, Covered, Direct Garage Access, Concrete, Paved, Garage, Garage Faces Front, Garage - Single Door, On Site, Parking Space
Parking Total: 10
Lot Size Acres: 0.1705234
Lot Size Source: Assessor
Lot Size Square Feet: 7428
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 3
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 3
Total Bathrooms in Unit-1: 4
Total Bathrooms in Unit-2: 2
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 2
Unit-1 Garage Spaces: 2
Unit-2 Garage Spaces: 2
Unit-3 Garage Spaces: 2
Unit-4 Garage Spaces: 2
Unit-5 Garage Spaces: 2
Maintenance Expense: 6000.00
Rent Control: Yes
County: Los Angeles
Cap Rate: 4.19
Other Expense: 5000.00
Source Property Type: Residential Income
Insurance Expense: 3500.00
Area: C21 - Silver Lake - Echo Park
Source Neighborhood: C21 - Silver Lake - Echo Park
Number of Separate Electric Meters: 5
Number of Separate Gas Meters: 5
Parcel Number: 5406022015
Postal Code Plus 4: 1395
Trash Expense: 1600.00
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $587,123 + $510,333 $1,097,456 | $14,064 |
| 2021 | $575,611 + $500,327 $1,075,938 | $13,859 |
| 2020 | $569,709 + $495,197 $1,064,906 | $13,986 |
| 2019 | $558,539 + $485,488 $1,044,027 | $13,465 |
| 2018 | $547,588 + $475,969 $1,023,557 | $13,297 |
| 2017 | $536,851 + $466,637 $1,003,488 | $12,977 |
| 2016 | $526,325 + $457,488 $983,813 | $12,616 |
| 2015 | $518,420 + $450,617 $969,037 | $12,441 |
| 2014 | $508,265 + $441,791 $950,056 | $12,506 |
| 2013 | $505,968 + $439,795 $945,763 | $12,497 |
| 2012 | $496,048 + $431,172 $927,220 | $12,662 |
| 2010 | $486,322 + $422,718 $909,040 | $12,329 |
| 2009 | $483,835 + $420,556 $904,391 | $11,843 |
| 2009 | $482,688 + $419,559 $902,247 | $11,843 |
| 2008 | $474,349 + $412,310 $886,659 | $11,355 |
| 2007 | $465,049 + $404,226 $869,275 | $10,962 |
$2,380,000
CRMLS
Listing removed 2003-07-01
$849,000
ITECH
Listing removed 2003-03-31
$849,000
ITECH
Listed 2002-10-17
$849,000
ITECH
Listed 2002-10-11
$849,000
ITECH
Sold 1989-12-28
$145,000
Public Record
Year Built: 1992
Building Features: 1
Common Walls: 2+ Common Walls
Construction Materials: Drywall Walls
Direction Faces: South
Entry Level: 1
Entry Location: front
Property Age: 32
Property Attached: Yes
Building Total Stories: 3
Structure Type: Apartment
House Style: Custom Built
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 2600.00
Electricity Available
Natural Gas Connected
Sewer Connected
Water Available
Water Source: Public
Map directions Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 | ||||
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.