$1,200,000 Price Analysis   ♡   Los Angeles, CA 90001 10 bed 6 bath 2,300 SqFt ($521/SqFt) 5,649SqFt lot. Built 1923 Listed 2024-05-21, Taxes $9,514 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
$100
000 Price Reduction 1850 E. 71st St is a 4-unit and ADU value-add property offered at a 7.20% CAP and 9.3 1 GRM on current rents. The property consists of (1) 3-bdrm. and 2-bath unit, (2) 2-bdrm. units, (1) 2-bdrm. ADU and (1) 1-bdrm. unit that generate approx. $10, 737 in monthly gross income. 1850 E. 71st St. presents approx. 30% rental upside compared to renovated units in the area.
The property will stabilize at a 10.24% CAP and 7.18 GRM by achieving market rents. Located north of Florence Ave, this value-add opportunity is located 0.5 miles from Plaza La Alameda, a community center (opened in 2008) that is home to 220, 000 SF of retail space and 18, 000 SF of office space. In addition, the property is located 1 mile east of Pacific Blvd, the commercial heart of Huntington Park. 1850 E. 71st Street can be purchased individually r as part of a 5-property South LA portfolio. Please contact LA1 for more information.
Presented by Max Berger at
COMPASS.
Property MLS #24-394601 from TheMLSCLAW
Full Bathrooms: 6
Laundry Features: Community
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 5649
Parking Total: 2
Calculated Total Monthly Association Fees: 0
Number of Units: 4
Unit Features: 1 BedsTotal: 3, 1 BathsTotal: 2, 1 SquareFeet: 3295, 2 BedsTotal: 2, 2 BathsTotal: 1, 2 SquareFeet: 8385, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2195
County: Los Angeles
Cross Street: E. Florence Ave. & Wilson Ave.
Cap Rate: 7.2
Directions: Located two blocks east of E. Florence Ave. and S. Alameda St, the subject property is 0.5 miles from Plaza la Alameda.
Source Property Type: Residential Income
Area: Downtown L.A.
Source Neighborhood: Downtown L.A.
Parcel Number: 6009-029-002
Postal Code Plus 4: 2217
Zoning: LCR4YY
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $350,608 + $310,937 $661,545 | $9,514 |
| 2021 | $343,734 + $304,841 $648,575 | $9,410 |
| 2020 | $340,210 + $301,716 $641,926 | $9,475 |
| 2019 | $333,540 + $295,800 $629,340 | $9,140 |
| 2018 | $185,640 + $344,760 $530,400 | $7,967 |
| 2017 | $96,702 + $75,617 $172,319 | $3,747 |
| 2016 | $94,806 + $74,135 $168,941 | $3,655 |
| 2015 | $93,382 + $73,022 $166,404 | $3,610 |
| 2014 | $91,553 + $71,592 $163,145 | $3,624 |
| 2013 | $91,140 + $71,269 $162,409 | $3,594 |
| 2012 | $89,353 + $69,872 $159,225 | $3,592 |
| 2010 | $87,601 + $68,502 $156,103 | $3,503 |
| 2009 | $87,154 + $68,153 $155,307 | $3,387 |
| 2009 | $86,947 + $67,991 $154,938 | $3,387 |
| 2008 | $85,446 + $66,817 $152,263 | $3,271 |
| 2007 | $83,771 + $65,507 $149,278 | $3,152 |
$1,200,000
TheMLSCLAW
Listed 2024-05-21
$1,300,000
TheMLSCLAW
Sold 2018-04-13
$617,000
CRMLS
Listed 2018-01-20
$599,999
CRMLS
Sold 1982-04-30
$75,000
Public Record
Year Built: 1923
Common Walls: Attached
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 101
Levels or Stories: 2
Building Total Stories: 2
House Style: Bungalow
Year Built Source: Vendor Enhanced
Architectural Style: Bungalow
Map directions Map directions Map directions Map directions
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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.