$1999000 Price Analysis   ♡   Los Angeles, CA 90016 14 bed 14 bath 3526 SqFt ($566/SqFt) 8123SqFt lot. Built 1945 Listed 2023-10-17, Taxes $3637 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
4th Price Reduction!
* Sale Pending *We are pleased to present a 14-unt motel currently operating as an apartment building located along the trending Washington Blvd corridor. With 4 existing vacancies and a projected 7.98 % CAP upon leasing of the vacancies, there is immediate opportunity for an operator to renovate and add-value while working with the existing tenants (majority of which are transitional housing) that are currently receiving subsidies up to $1, 660 per month. The majority of units compose of bachelor style layouts (no kitchen), with 1 one bedroom unit (stand-alone structure) and 1 two bedroom unit (previous motel office). With 3, 526sf of building located on 8, 123sf of land, the property is well positioned for a local operator to continue relationships with the existing subsidy providers or to return the property back to its original motel use. Located minutes away from West Adams and Culver City, both investors and tenants are able to take advantage of the ever-improving amenities within the neighborhood, including but not limited to local coffee shops, breweries, restaurants, employment hubs, art galleries and more!
Buyer shall complete their own due diligence to determine the current legal use, tenancies, legal amount of units and all aspects relating to the property. For more information please contact the listing broker.
Presented by Casey Lins at
Kidder Mathews of California, Inc.
Property MLS #23-322219 from TheMLSCLAW
Full Bathrooms: 14
Lot Size Square Feet: 8123
Parking Total: 7
Calculated Total Monthly Association Fees: 0
Number of Units: 14
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 18260, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2096, 3 BedsTotal: 2, 3 BathsTotal: 1, 3 SquareFeet: 2666
County: Los Angeles
Cap Rate: 7.98
Directions: Google maps: 5134 W Washington Blvd. Los Angeles, CA 90016
Source Property Type: Residential Income
Area: Mid Los Angeles
Source Neighborhood: Mid Los Angeles
Parcel Number: 5062-006-022
Zoning: LAC2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $91974 + $185800 $277774 | $3637 |
| 2021 | $90171 + $182157 $272328 | $3584 |
| 2020 | $89247 + $180290 $269537 | $3616 |
| 2019 | $87498 + $176755 $264253 | $3484 |
| 2018 | $85783 + $173290 $259073 | $3384 |
| 2017 | $84101 + $169893 $253994 | $3316 |
| 2016 | $82452 + $166562 $249014 | $3227 |
| 2015 | $81214 + $164061 $245275 | $3183 |
| 2014 | $79624 + $160848 $240472 | $3201 |
| 2013 | $79265 + $160122 $239387 | $3195 |
| 2012 | $77711 + $156983 $234694 | $3237 |
| 2010 | $76188 + $153905 $230093 | $3182 |
| 2009 | $75799 + $153118 $228917 | $3065 |
| 2009 | $75619 + $152755 $228374 | $3065 |
| 2008 | $74313 + $150116 $224429 | $2941 |
| 2007 | $72856 + $147173 $220029 | $2844 |
$1999000
TheMLSCLAW
Price Changed 2024-03-14
$2150000
TheMLSCLAW
Price Changed 2024-02-05
$2250000
TheMLSCLAW
Price Changed 2023-12-05
$2345000
TheMLSCLAW
Listed 2023-10-17
$2395000
TheMLSCLAW
Sold 1986-01-17
$220000
Public Record
Year Built: 1945
Levels: One Level
Property Age: 79
Levels or Stories: 1
Building Total Stories: 1
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.