Thank you
Kenny Stevens
Compass
310-230-5478
We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target).
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Total Bedrooms : 18
Total Baths: 15
Full Baths: 0
Half Baths: 0
Property Appliances: Refrigerator
Central Air
Air Conditioning
Central
Has Heating
Year Built: 1986
Building Area Total: 9,758
Gated Community
Common Area,In Garage
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1607
Lot Size Source: Other
Lot Size Square Feet: 7000
Original List Price: 3,000,000
Listing Contract Date: 2023-07-21
Listing Agreement: Seller Reserved
Parcel Number: 5076012008
Garage Description: Garage,Gated
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C17 - Mid-Wilshire
Postal Code Plus 4: 2967
Directions: Located two blocks east and two block south of Olympic Blvd. and Vermont Ave.
Zoning: LAR3
Source Property Type: Residential Income
Area: C17 - Mid-Wilshire
Property Age: 38
Year Built Source: Vendor Enhanced
Total Square Feet Living: 9758
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1637 S Vermont Avenue, Los Angeles, CA,90006 | $2,600,000 | -- | -- | -- | 12750 Sqft |
1833 W Pico Boulevard, Los Angeles, CA,90006 | $1,350,000 | -- | -- | -- | 6247 Sqft |
1225 S Harvard Boulevard, Los Angeles, CA,90006 | $1,200,000 | -- | -- | -- | 5918 Sqft |
980 S Oxford Avenue #403, Los Angeles, CA,90006 | $780,000 | 3 | 2 | 1,324 | 15497 Sqft |
1661 S Normandie Avenue, Los Angeles, CA,90006 | $1,200,000 | 2 | 1 | 3,396 | 6208 Sqft |
1421 Courtland Avenue, Los Angeles, CA,90006 | $900,000 | -- | -- | 2,087 | 3941 Sqft |
1138 S Mariposa Avenue, Los Angeles, CA,90006 | $1,499,000 | 8 | -- | 4,064 | 5904 Sqft |
980 S Oxford Avenue #103, Los Angeles, CA,90006 | $760,000 | 3 | 2 | 1,350 | 15497 Sqft |
1125 S Lake Street, Los Angeles, CA,90006 | $968,000 | 9 | 4 | 4,117 | 8579 Sqft |
2970 W 11th Street, Los Angeles, CA,90006 | $1,349,000 | 7 | -- | 4,103 | 5908 Sqft |
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ByOwner last updated this listing 04/29/2024 @ 13:49
MLS: 23293115
LISTED BY: Kenny Stevens, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.